Understanding Income Tax Slab before calculation and assessment of tax is very important for tax expert as well as a common man.
Table of Contents
Let’s begin with the bottom:
Income Tax Slabs for A.Y. (2001-02)
| Sr. No. | Income Slab (₹) | Tax (₹) | Surcharge Total Income>₹. 60,000 | Surcharge Total Income>₹. 1,50,000 |
| 1 | Less than ₹ 50,000 | Nil | Nil | Nil |
| 2 | ₹ 50,000 to ₹ 60,000 | (TI-50,000) * 10% | 12% | 17% |
| 3 | ₹ 60,000 to ₹ 1, 50,000 | 1,000+(TI-60,000) * 20% | 12% | 17% |
| 4 | Greater than ₹ 1,50,000 | 19,000+(TI-1,50,000) * 30% | 12% | 17% |
Income Tax Slabs for A.Y. (2002-03)
| Sr. No. | Income Slab (₹) | Tax (₹) | Surcharge Total Income>₹. 60,000 |
| 1 | Less than ₹ 50,000 | Nil | Nil |
| 2 | ₹ 50,000 to ₹ 60,000 | (TI-50,000) * 10% | 2% |
| 3 | ₹ 60,000 to ₹ 1, 50,000 | 1,000+(TI-60,000) * 20% | 2% |
| 4 | Greater than ₹ 1,50,000 | 19,000+(TI-1,50,000) * 30% | 2% |
Also, Read Mistake rectification under section 154 of income tax act.
Income Tax Slabs for A.Y. (2003-04)
| Sr. No. | Income Slab (₹) | Tax (₹) | Surcharge Total Income>₹. 60,000 |
| 1 | Less than ₹ 50,000 | Nil | Nil |
| 2 | ₹ 50,000 to ₹ 60,000 | (TI-50,000) * 10% | 5% |
| 3 | ₹ 60,000 to ₹ 1, 50,000 | 1,000+(TI-60,000) * 20% | 5% |
| 4 | Greater than ₹ 1,50,000 | 19,000+(TI-1,50,000) * 30% | 5% |
Income Tax Slabs for A.Y. (2004-05)
| Sr. No. | Income Slab (₹) | Tax (₹) | Surcharge Total Income>₹. 8,50,000 |
| 1 | Less than ₹ 50,000 | Nil | Nil |
| 2 | ₹ 50,000 to ₹ 60,000 | (TI-50,000) * 10% | 10% |
| 3 | ₹ 60,000 to ₹ 1, 50,000 | 1,000+(TI-60,000) * 20% | 10% |
| 4 | Greater than ₹ 1,50,000 | 19,000+(TI-1,50,000) * 30% | 10% |
Income Tax Slabs for A.Y. (2005-06)
| Sr. No. | Income Slab (₹) | Tax (₹) | Surcharge Total Income>₹. 8,50,000 |
| 1 | Less than ₹ 50,000 | Nil | Nil |
| 2 | ₹ 50,000 to ₹ 60,000 | (TI-50,000) * 10% | 10% |
| 3 | ₹ 60,000 to ₹ 1, 50,000 | 1,000+(TI-60,000) * 20% | 10% |
| 4 | Greater than ₹ 1,50,000 | 19,000+(TI-1,50,000) * 30% | 10% |
Also Read: Awesome! (5) Easy Ways to “E-verify” Your Income Tax Return.
Income Tax Slabs for A.Y. (2006-07) & A.Y. (2007-08)
From AY 2006-07, tax slab is bifurcated according to men, women & senior citizen.
Tax slab for Men up to 65 years of age.
| Sr. No. | Income Slab (₹) | Tax (₹) | Surcharge Total Income>₹. 10,00,000 |
| 1 | Less than ₹ 1,00,000 | Nil | Nil |
| 2 | ₹ 1,00,000 to ₹ 1,50,000 | (TI-1,00,000) * 10% | 10% |
| 3 | ₹ 1,50,000 to ₹ 2,50,000 | 5,000+(TI-1,50,000) * 20% | 10% |
| 4 | Greater than ₹ 2,50,000 | 25,000+(TI-2,50,000) * 30% | 10% |
Tax slab for Women up to 65 years of age.
| Sr. No. | Income Slab (₹) | Tax (₹) | Surcharge Total Income>₹. 10,00,000 |
| 1 | Less than ₹ 1,35,000 | Nil | Nil |
| 2 | ₹ 1,35,000 to ₹ 1,50,000 | (TI-₹ 1,35,000) * 10% | 10% |
| 3 | ₹ 1,50,000 to ₹ 2,50,000 | ₹ 1,500+(TI-₹ 1,50,000) * 20% | 10% |
| 4 | Greater than ₹ 2,50,000 | ₹ 21,500+(TI-₹ 2,50,000) * 30% | 10% |
Tax slab for Senior Citizen aged above 65 years.
| Sr. No. | Income Slab (₹) | Tax (₹) | Surcharge Total Income>₹. 10,00,000 |
| 1 | Less than ₹ 1,85,000 | Nil | Nil |
| 2 | ₹ 1,85,000 to ₹ 2,50,000 | (TI-₹ 1,85,000) * 20% | 10% |
| 3 | Greater than ₹ 2,50,000 | ₹ 13,000+(TI-₹ 2,50,000) * 30% | 10% |
Also Read: Get Your ‘Best Credit Card for Grocery Shopping in India’-2019
Income Tax Slabs for A.Y. (2008-09)
Tax slab for Men up to 65 years of age.
| Sr. No. | Tax Slab (Rs) | Tax (Rs) | Surcharge Total Income> Rs. 10,00,000 |
| 1 | Less than ₹ 1,10,000 | Nil | Nil |
| 2 | ₹ 1,10,000 to ₹ 1,50,000 | (TI-₹ 1,10,000) * 10% | 10% |
| 3 | ₹ 1,50,000 to ₹ 2,50,000 | ₹ 4,000+(TI-₹ 1,50,000) * 20% | 10% |
| 4 | Greater than ₹ 2,50,000 | ₹ 24,000+(TI-₹ 2,50,000) * 30% | 10% |
Tax slab for Women up to 65 years of age.
| Sr. No. | Tax Slab (Rs) | Tax (Rs) | Surcharge Total Income> Rs. 10,00,000 |
| 1 | Less than ₹ 1,45,000 | Nil | Nil |
| 2 | ₹ 1,45,000 to ₹ 1,50,000 | (TI-₹ 1,45,000) * 10% | 10% |
| 3 | ₹ 1,50,000 to ₹ 2,50,000 | ₹ 500+(TI-₹ 1,50,000) * 20% | 10% |
| 4 | Greater than ₹ 2,50,000 | ₹ 20,500+(TI-₹ 2,50,000) * 30% | 10% |
Tax slab for Senior Citizen aged above 65 years.
| Sr. No. | Tax Slab (Rs) | Tax (Rs) | Surcharge Total Income> Rs. 10,00,000 |
| 1 | Less than ₹ 1,95,000 | Nil | Nil |
| 2 | ₹ 1,95,000 to ₹ 2,50,000 | (TI-₹ 1,95,000) * 20% | 10% |
| 3 | Greater than ₹ 2,50,000 | ₹ 11,000+(TI-₹ 2,50,000) * 30% | 10% |
Income Tax Slabs for A.Y. (2009-10)
Tax slab for Men up to 65 years of age.
| Sr. No. | Tax Slab (₹) | Tax (₹) |
| 1 | Less than ₹ 1,50,000 | Nil |
| 2 | ₹ 1,50,000 to ₹ 3,00,000 | (TI-₹ 1,50,000) * 10% |
| 3 | ₹ 3,00,000 to ₹ 5,00,000 | ₹ 15,000+(TI-₹ 3,00,000) * 20% |
| 4 | Greater than ₹ 5,00,000 | ₹ 55,000+(TI-₹ 5,00,000) * 30% |
Tax slab for Women up to 65 years of age.
| Sr. No. | Tax Slab (₹) | Tax (₹) |
| 1 | Less than ₹ 1,80,000 | Nil |
| 2 | ₹ 1,80,000 to ₹ 3,00,000 | (TI-₹ 1,80,000) * 10% |
| 3 | ₹ 3,00,000 to ₹ 5,00,000 | ₹ 12,000+(TI-₹ 3,00,000) * 20% |
| 4 | Greater than ₹ 5,00,000 | ₹ 52,000+(TI-₹ 5,00,000) * 30% |
Tax slab for Senior Citizen aged above 65 years.
| Sr. No. | Tax Slab (₹) | Tax (₹) |
| 1 | Less than ₹ 2,25,000 | Nil |
| 2 | ₹ 2,25,000 to ₹ 3,00,000 | (TI-₹ 2,25,000) * 10% |
| 3 | ₹ 3,00,000 to ₹ 5,00,000 | ₹ 7,500+(TI-₹ 3,00,000) * 20% |
| 4 | Greater than ₹ 5,00,000 | ₹ 47,500+(TI-₹ 5,00,000) * 30% |
Also Read: Best Credit Cards against Fixed Deposit in India – Highlights & Discussion
Income Tax Slabs for A.Y. (2010-11)
Tax slab for Men up to 65 years of age.
| Sr. no. | Tax Slab (₹) | Tax (₹) |
| 1 | Less than ₹ 1,60,000 | Nil |
| 2 | ₹ 1,60,000 to ₹ 3,00,000 | (TI-₹ 1,60,000) * 10% |
| 3 | ₹ 3,00,000 to ₹ 5,00,000 | ₹ 14,000+(TI-₹ 3,00,000) * 20% |
| 4 | Greater than ₹ 5,00,000 | ₹ 54,000+(TI-₹ 5,00,000) * 30% |
Tax slab for Women up to 65 years of age.
| Sr. no. | Tax Slab (₹) | Tax (₹) |
| 1 | Less than ₹ 1,90,000 | Nil |
| 2 | ₹ 1,90,000 to ₹ 3,00,000 | (TI-₹ 1,90,000) * 10% |
| 3 | ₹ 3,00,000 to ₹ 5,00,000 | ₹ 11,000+(TI-₹ 3,00,000) * 20% |
| 4 | Greater than ₹ 5,00,000 | ₹ 51,000+(TI-₹ 5,00,000) * 30% |
Tax slab for Senior Citizen aged above 65 years.
| Sr. no. | Tax Slab (₹) | Tax (₹) |
| 1 | Less than ₹ 2,40,000 | Nil |
| 2 | ₹ 2,40,000 to ₹ 3,00,000 | (TI-₹ 2,40,000) * 10% |
| 3 | ₹ 3,00,000 to ₹ 5,00,000 | ₹ 6,000+(TI-₹ 3,00,000) * 20% |
| 4 | Greater than ₹ 5,00,000 | ₹ 46,000+(TI-₹ 5,00,000) * 30% |
Income Tax Slabs for A.Y. (2011-12)
Tax slab for Men up to 65 years of age.
| Sr. no. | Tax Slab (₹) | Tax (₹) |
| 1 | Less than ₹ 1,60,000 | Nil |
| 2 | ₹ 1,60,000 to ₹ 5,00,000 | (TI-₹ 1,60,000) * 10% |
| 3 | ₹ 5,00,000 to ₹ 8,00,000 | ₹ 34,000+(TI-₹ 5,00,000) * 20% |
| 4 | Greater than ₹ 8,00,000 | ₹ 94,000+(TI-₹ 8,00,000) * 30% |
Tax slab for Women up to 65 years of age.
| Sr. no. | Tax Slab (₹) | Tax (₹) |
| 1 | Less than ₹ 1,90,000 | Nil |
| 2 | ₹ 1,90,000 to ₹ 5,00,000 | (TI-₹ 1,90,000) * 10% |
| 3 | ₹ 5,00,000 to ₹ 8,00,000 | ₹ 31,000+(TI-₹ 5,00,000) * 20% |
| 4 | Greater than ₹ 8,00,000 | ₹ 91,000+(TI-₹ 8,00,000) * 30% |
Tax slab for Senior Citizen aged above 65 years.
| Sr. no. | Tax Slab (₹) | Tax (₹) |
| 1 | Less than ₹ 2,40,000 | Nil |
| 2 | ₹ 2,40,000 to ₹ 5,00,000 | (TI-₹ 2,40,000) * 10% |
| 3 | ₹ 5,00,000 to ₹ 8,00,000 | ₹ 26,000+(TI-₹ 5,00,000) * 20% |
| 4 | Greater than ₹ 8,00,000 | ₹ 86,000+(TI-₹ 8,00,000) * 30% |
Also Read: How to save money each month – 32 Unique Ideas
Income Tax Slabs for A.Y. (2012-13)
Tax slab for Men up to 60 years of age.
| Sr. no. | Tax Slab (₹) | Tax (₹) |
| 1 | Less than ₹ 1,80,000 | Nil |
| 2 | ₹ 1,80,000 to ₹ 5,00,000 | (TI-₹ 1,80,000) * 10% |
| 3 | ₹ 5,00,000 to ₹ 8,00,000 | ₹ 32,000+(TI-₹ 5,00,000) * 20% |
| 4 | Greater than ₹ 8,00,000 | ₹ 92,000+(TI-₹ 8,00,000) * 30% |
Tax slab for Women up to 60 years of age.
| Sr. no. | Tax Slab (₹) | Tax (₹) |
| 1 | Less than ₹ 1,90,000 | Nil |
| 2 | ₹ 1,90,000 to ₹ 5,00,000 | (TI-₹ 1,90,000) * 10% |
| 3 | ₹ 5,00,000 to ₹ 8,00,000 | ₹ 31,000+(TI-₹ 5,00,000) * 20% |
| 4 | Greater than ₹ 8,00,000 | ₹ 91,000+(TI-₹ 8,00,000) * 30% |
Tax slab for Senior Citizen aged above 60 years.
| Sr. no. | Tax Slab (₹) | Tax (₹) |
| 1 | Less than ₹ 2,50,000 | Nil |
| 2 | ₹ 2,50,000 to ₹ 5,00,000 | (TI-₹ 2,50,000) * 10% |
| 3 | ₹ 5,00,000 to ₹ 8,00,000 | ₹ 25,000+(TI-₹ 5,00,000) * 20% |
| 4 | Greater than ₹ 8,00,000 | ₹ 85,000+(TI-₹ 8,00,000) * 30% |
Income Tax Slabs for A.Y. (2013-14)
Tax slab for Men up to 60 years of age.
| Sr. no. | Tax Slab (₹) | Tax (₹) |
| 1 | Less than ₹ 2,00,000 | Nil |
| 2 | ₹ 2,00,000 to ₹ 5,00,000 | (TI-₹ 2,00,000) * 10% |
| 3 | ₹ 5,00,000 to ₹ 10,00,000 | ₹ 30,000+(TI-₹ 5,00,000) * 20% |
| 4 | Greater than ₹ 10,00,000 | ₹ 1,30,000+(TI-₹ 8,00,000) * 30% |
Tax slab for Women up to 60 years of age.
| Sr. no. | Tax Slab (₹) | Tax (₹) |
| 1 | Less than ₹ 2,00,000 | Nil |
| 2 | ₹ 2,00,000 to ₹ 5,00,000 | (TI-₹ 2,00,000) * 10% |
| 3 | ₹ 5,00,000 to ₹ 10,00,000 | ₹ 30,000+(TI-₹ 5,00,000) * 20% |
| 4 | Greater than ₹ 10,00,000 | ₹ 1,30,000+(TI-₹ 8,00,000) * 30% |
Tax slab for Senior Citizen aged above 60 years.
| Sr. no. | Tax Slab (₹) | Tax (₹) |
| 1 | Less than ₹ 2,50,000 | Nil |
| 2 | ₹ 2,50,000 to ₹ 5,00,000 | (TI-₹ 2,50,000) * 10% |
| 3 | ₹ 5,00,000 to ₹ 10,00,000 | ₹ 25,000+(TI-₹ 5,00,000) * 20% |
| 4 | Greater than ₹ 10,00,000 | ₹ 1,25,000+(TI-₹ 10,00,000) * 30% |
Income Tax Slabs for A.Y. (2014-15)
Tax slab for Men up to 60 years of age.
| Sr. no. | Tax Slab (₹) | Tax (₹) |
| 1 | Less than ₹ 2,00,000 | Nil |
| 2 | ₹ 2,00,000 to ₹ 5,00,000 | (TI-₹ 2,00,000) * 10% |
| 3 | ₹ 5,00,000 to ₹ 10,00,000 | ₹ 30,000+(TI-₹ 5,00,000) * 20% |
| 4 | Greater than ₹ 10,00,000 | ₹ 1,30,000+(TI-₹ 8,00,000) * 30% |
Tax slab for Women up to 60 years of age.
| Sr. no. | Tax Slab (₹) | Tax (₹) |
| 1 | Less than ₹ 2,00,000 | Nil |
| 2 | ₹ 2,00,000 to ₹ 5,00,000 | (TI-₹ 2,00,000) * 10% |
| 3 | ₹ 5,00,000 to ₹ 10,00,000 | ₹ 30,000+(TI-₹ 5,00,000) * 20% |
| 4 | Greater than ₹ 10,00,000 | ₹ 1,30,000+(TI-₹ 8,00,000) * 30% |
Tax slab for Senior Citizen aged above 60 years.
| Sr. no. | Tax Slab (₹) | Tax (₹) |
| 1 | Less than ₹ 2,50,000 | Nil |
| 2 | ₹ 2,50,000 to ₹ 5,00,000 | (TI-₹ 2,50,000) * 10% |
| 3 | ₹ 5,00,000 to ₹ 10,00,000 | ₹ 25,000+(TI-₹ 5,00,000) * 20% |
| 4 | Greater than ₹ 10,00,000 | ₹ 1,25,000+(TI-₹ 10,00,000) * 30% |
Income Tax Slabs for A.Y. (2015-16)
Tax slab for Men up to 60 years of age.
| Sr. no. | Tax Slab (₹) | Tax (₹) |
| 1 | Less than ₹ 2,50,000 | Nil |
| 2 | ₹ 2,50,000 to ₹ 5,00,000 | (TI-₹ 2,50,000) * 10% |
| 3 | ₹ 5,00,000 to ₹ 10,00,000 | ₹ 25,000+(TI-₹ 5,00,000) * 20% |
| 4 | Greater than ₹ 10,00,000 | ₹ 1,25,000+(TI-₹ 10,00,000) * 30% |
Tax slab for Women up to 60 years of age.
| Sr. no. | Tax Slab (₹) | Tax (₹) |
| 1 | Less than ₹ 2,50,000 | Nil |
| 2 | ₹ 2,50,000 to ₹ 5,00,000 | (TI-₹ 2,50,000) * 10% |
| 3 | ₹ 5,00,000 to ₹ 10,00,000 | ₹ 25,000+(TI-₹ 5,00,000) * 20% |
| 4 | Greater than ₹ 10,00,000 | ₹ 1,25,000+(TI-₹ 10,00,000) * 30% |
Tax slab for Senior Citizen aged above 60 years.
| Sr. no. | Tax Slab (₹) | Tax (₹) |
| 1 | Less than ₹ 3,00,000 | Nil |
| 2 | ₹ 3,00,000 to ₹ 5,00,000 | (TI-₹ 3,00,000) * 10% |
| 3 | ₹ 5,00,000 to ₹ 10,00,000 | ₹ 20,000+(TI-₹ 5,00,000) * 20% |
| 4 | Greater than ₹ 10,00,000 | ₹ 1,20,000+(TI-₹ 10,00,000) * 30% |
Income Tax Slabs for A.Y. (2016-17)
Tax slab for Men up to 60 years of age.
| Sr. no. | Tax Slab (₹) | Tax (₹) |
| 1 | Less than ₹ 2,50,000 | Nil |
| 2 | ₹ 2,50,000 to ₹ 5,00,000 | (TI-₹ 2,50,000) * 10% |
| 3 | ₹ 5,00,000 to ₹ 10,00,000 | ₹ 25,000+(TI-₹ 5,00,000) * 20% |
| 4 | Greater than ₹ 10,00,000 | ₹ 1,25,000+(TI-₹ 10,00,000) * 30% |
Tax slab for Women up to 60 years of age.
| Sr. no. | Tax Slab (₹) | Tax (₹) |
| 1 | Less than ₹ 2,50,000 | Nil |
| 2 | ₹ 2,50,000 to ₹ 5,00,000 | (TI-₹ 2,50,000) * 10% |
| 3 | ₹ 5,00,000 to ₹ 10,00,000 | ₹ 25,000+(TI-₹ 5,00,000) * 20% |
| 4 | Greater than ₹ 10,00,000 | ₹ 1,25,000+(TI-₹ 10,00,000) * 30% |
Tax slab for Senior Citizen aged above 60 years.
| Sr. no. | Tax Slab (₹) | Tax (₹) |
| 1 | Less than ₹ 3,00,000 | Nil |
| 2 | ₹ 3,00,000 to ₹ 5,00,000 | (TI-₹ 3,00,000) * 10% |
| 3 | ₹ 5,00,000 to ₹ 10,00,000 | ₹ 20,000+(TI-₹ 5,00,000) * 20% |
| 4 | Greater than ₹ 10,00,000 | ₹ 1,20,000+(TI-₹ 10,00,000) * 30% |
Income Tax Slabs for A.Y. (2017-18)
Tax slab for Men up to 60 years of age.
| Sr. no. | Tax Slab (₹) | Tax (₹) |
| 1 | Less than ₹ 2,50,000 | Nil |
| 2 | ₹ 2,50,000 to ₹ 5,00,000 | (TI-₹ 2,50,000) * 10% |
| 3 | ₹ 5,00,000 to ₹ 10,00,000 | ₹ 25,000+(TI-₹ 5,00,000) * 20% |
| 4 | Greater than ₹ 10,00,000 | ₹ 1,25,000+(TI-₹ 10,00,000) * 30% |
Tax slab for Women up to 60 years of age.
| Sr. no. | Tax Slab (₹) | Tax (₹) |
| 1 | Less than ₹ 2,50,000 | Nil |
| 2 | ₹ 2,50,000 to ₹ 5,00,000 | (TI-₹ 2,50,000) * 10% |
| 3 | ₹ 5,00,000 to ₹ 10,00,000 | ₹ 25,000+(TI-₹ 5,00,000) * 20% |
| 4 | Greater than ₹ 10,00,000 | ₹ 1,25,000+(TI-₹ 10,00,000) * 30% |
Tax slab for Senior Citizen aged above 60 years.
| Sr. no. | Tax Slab (₹) | Tax (₹) |
| 1 | Less than ₹ 3,00,000 | Nil |
| 2 | ₹ 3,00,000 to ₹ 5,00,000 | (TI-₹ 3,00,000) * 10% |
| 3 | ₹ 5,00,000 to ₹ 10,00,000 | ₹ 20,000+(TI-₹ 5,00,000) * 20% |
| 4 | Greater than ₹ 10,00,000 | ₹ 1,20,000+(TI-₹ 10,00,000) * 30% |
Also Read: Best money saving idea for salaried employee
Income Tax Slabs for A.Y. (2018-19)
Tax slab for Men up to 60 years of age.
| Sr. no. | Tax Slab (₹) | Tax (₹) |
| 1 | Less than ₹ 2,50,000 | Nil |
| 2 | ₹ 2,50,000 to ₹ 5,00,000 | (TI-₹ 2,50,000) * 5% |
| 3 | ₹ 5,00,000 to ₹ 10,00,000 | ₹ 12,500+(TI-₹ 5,00,000) * 20% |
| 4 | Greater than ₹ 10,00,000 | ₹ 1,12,500+(TI-₹ 10,00,000) * 30% |
Tax slab for Women up to 60 years of age.
| Sr. no. | Tax Slab (₹) | Tax (₹) |
| 1 | Less than ₹ 2,50,000 | Nil |
| 2 | ₹ 2,50,000 to ₹ 5,00,000 | (TI-₹ 2,50,000) * 5% |
| 3 | ₹ 5,00,000 to ₹ 10,00,000 | ₹ 12,500+(TI-₹ 5,00,000) * 20% |
| 4 | Greater than ₹ 10,00,000 | ₹ 1,12,500+(TI-₹ 10,00,000) * 30% |
Tax slab for Senior Citizen aged above 60 years.
| Sr. no. | Tax Slab (₹) | Tax (₹) |
| 1 | Less than ₹ 3,00,000 | Nil |
| 2 | ₹ 3,00,000 to ₹ 5,00,000 | (TI-₹ 3,00,000) * 5% |
| 3 | ₹ 5,00,000 to ₹ 10,00,000 | ₹ 10,000+(TI-₹ 5,00,000) * 20% |
| 4 | Greater than ₹ 10,00,000 | ₹ 1,10,000+(TI-₹ 10,00,000) * 30% |
Income Tax Slabs for A.Y. (2019-20)
Tax slab for Men up to 60 years of age.
| Sr. no. | Tax Slab (₹) | Tax (₹) |
| 1 | Less than ₹ 2,50,000 | Nil |
| 2 | ₹ 2,50,000 to ₹ 5,00,000 | (TI-₹ 2,50,000) * 5% |
| 3 | ₹ 5,00,000 to ₹ 10,00,000 | ₹ 12,500+(TI-₹ 5,00,000) * 20% |
| 4 | Greater than ₹ 10,00,000 | ₹ 1,12,500+(TI-₹ 10,00,000) * 30% |
Tax slab for Women up to 60 years of age.
| Sr. no. | Tax Slab (₹) | Tax (₹) |
| 1 | Less than ₹ 2,50,000 | Nil |
| 2 | ₹ 2,50,000 to ₹ 5,00,000 | (TI-₹ 2,50,000) * 5% |
| 3 | ₹ 5,00,000 to ₹ 10,00,000 | ₹ 12,500+(TI-₹ 5,00,000) * 20% |
| 4 | Greater than ₹ 10,00,000 | ₹ 1,12,500+(TI-₹ 10,00,000) * 30% |
Tax slab for Senior Citizen aged above 60 years.
| Sr. no. | Tax Slab (₹) | Tax (₹) |
| 1 | Less than ₹ 3,00,000 | Nil |
| 2 | ₹ 3,00,000 to ₹ 5,00,000 | (TI-₹ 3,00,000) * 5% |
| 3 | ₹ 5,00,000 to ₹ 10,00,000 | ₹ 10,000+(TI-₹ 5,00,000) * 20% |
| 4 | Greater than ₹ 10,00,000 | ₹ 1,10,000+(TI-₹ 10,00,000) * 30% |
Income Tax Slabs for A.Y. (2020-21) FY – (2019-20)
Tax slab for Men up to 60 years of age.
| Sr. no. | Tax Slab (₹) | Tax (₹) |
| 1 | Less than ₹ 2,50,000 | Nil |
| 2 | ₹ 2,50,000 to ₹ 5,00,000 | (TI-₹ 2,50,000) * 5% |
| 3 | ₹ 5,00,000 to ₹ 10,00,000 | ₹ 12,500+(TI-₹ 5,00,000) * 20% |
| 4 | Greater than ₹ 10,00,000 | ₹ 1,12,500+(TI-₹ 10,00,000) * 30% |
Tax slab for Women up to 60 years of age.
| Sr. no. | Tax Slab (₹) | Tax (₹) |
| 1 | Less than ₹ 2,50,000 | Nil |
| 2 | ₹ 2,50,000 to ₹ 5,00,000 | (TI-₹ 2,50,000) * 5% |
| 3 | ₹ 5,00,000 to ₹ 10,00,000 | ₹ 12,500+(TI-₹ 5,00,000) * 20% |
| 4 | Greater than ₹ 10,00,000 | ₹ 1,12,500+(TI-₹ 10,00,000) * 30% |
Tax slab for Senior Citizen aged above 60 years.
| Sr. no. | Tax Slab (₹) | Tax (₹) |
| 1 | Less than ₹ 3,00,000 | Nil |
| 2 | ₹ 3,00,000 to ₹ 5,00,000 | (TI-₹ 3,00,000) * 5% |
| 3 | ₹ 5,00,000 to ₹ 10,00,000 | ₹ 10,000+(TI-₹ 5,00,000) * 20% |
| 4 | Greater than ₹ 10,00,000 | ₹ 1,10,000+(TI-₹ 10,00,000) * 30% |
Income Tax Slabs for A.Y. (2021-22) FY – (2020-21)
Tax slab for Men up to 60 years of age.
| Old Regim | Deduction u/s 80C, 80D are permitted as usual | ||
| Sr. no. | Tax Slab (₹) | Tax (₹) | |
| 1 | Less than ₹ 2,50,000 | Nil | |
| 2 | ₹ 2,50,001 to ₹ 5,00,000 | (TI-₹ 2,50,000) * 5% | |
| 3 | ₹ 5,00,001 to ₹ 10,00,000 | ₹ 12,500+(TI-₹ 5,00,000) * 20% | |
| 4 | Greater than ₹ 10,00,000 | ₹ 1,12,500+(TI-₹ 10,00,000) * 30% | |
| OR | |||
| New Regim | Deduction u/s 80C, 80D Not permitted | ||
| Sr. no. | Tax Slab (₹) | Tax (₹) | |
| 1 | Less than ₹ 2,50,000 | Nil | |
| 2 | ₹ 2,50,001 to ₹ 5,00,000 | (TI-₹ 2,50,000) * 5% | |
| 3 | ₹ 5,00,001 to ₹ 7,50,000 | ₹ 12,500+(TI-₹ 5,00,000) * 10% | |
| 4 | ₹ 7,50,001 to ₹ 10,00,000 | ₹ 37,500+(TI-₹ 7,50,000) * 15% | |
| 5 | ₹ 10,00,001 to ₹ 12,50,000 | ₹ 75,000+(TI-₹ 10,00,000) * 20% | |
| 6 | ₹ 12,50,001 to ₹ 15,00,000 | ₹ 1,25,000+(TI-₹ 12,50,000) * 25% | |
| 7 | Greater than ₹ 15,00,000 | ₹ 1,87,500+(TI-₹ 15,00,000) * 30% |
Tax slab for Women up to 60 years of age.
| Old Regim | Deduction u/s 80C, 80D are permitted as usual | ||
| Sr. no. | Tax Slab (₹) | Tax (₹) | |
| 1 | Less than ₹ 2,50,000 | Nil | |
| 2 | ₹ 2,50,001 to ₹ 5,00,000 | (TI-₹ 2,50,000) * 5% | |
| 3 | ₹ 5,00,001 to ₹ 10,00,000 | ₹ 12,500+(TI-₹ 5,00,000) * 20% | |
| 4 | Greater than ₹ 10,00,000 | ₹ 1,12,500+(TI-₹ 10,00,000) * 30% | |
| OR | |||
| New Regim | Deduction u/s 80C, 80D Not permitted | ||
| Sr. no. | Tax Slab (₹) | Tax (₹) | |
| 1 | Less than ₹ 2,50,000 | Nil | |
| 2 | ₹ 2,50,001 to ₹ 5,00,000 | (TI-₹ 2,50,000) * 5% | |
| 3 | ₹ 5,00,001 to ₹ 7,50,000 | ₹ 12,500+(TI-₹ 5,00,000) * 10% | |
| 4 | ₹ 7,50,001 to ₹ 10,00,000 | ₹ 37,500+(TI-₹ 7,50,000) * 15% | |
| 5 | ₹ 10,00,001 to ₹ 12,50,000 | ₹ 75,000+(TI-₹ 10,00,000) * 20% | |
| 6 | ₹ 12,50,001 to ₹ 15,00,000 | ₹ 1,25,000+(TI-₹ 12,50,000) * 25% | |
| 7 | Greater than ₹ 15,00,000 | ₹ 1,87,500+(TI-₹ 15,00,000) * 30% |
Tax slab for Senior Citizen aged above 60 years.
| Old Regim | All Exemptions & Deduction u/s 80C, 80D are permitted as usual | ||
| Sr. no. | Tax Slab (₹) | Tax (₹) | |
| 1 | Less than ₹ 3,00,000 | Nil | |
| 2 | ₹ 3,00,000 to ₹ 5,00,000 | (TI-₹ 3,00,000) * 5% | |
| 3 | ₹ 5,00,000 to ₹ 10,00,000 | ₹ 10,000+(TI-₹ 5,00,000) * 20% | |
| 4 | Greater than ₹ 10,00,000 | ₹ 1,10,000+(TI-₹ 10,00,000) * 30% | |
| OR | |||
| New Regim | All Exemptions & Deduction u/s 80C, 80D Not permitted | ||
| Sr. no. | Tax Slab (₹) | Tax (₹) | |
| 1 | Less than ₹ 3,00,000 | Nil | |
| 2 | ₹ 3,00,001 to ₹ 5,00,000 | (TI-₹ 2,50,000) * 5% | |
| 3 | ₹ 5,00,001 to ₹ 7,50,000 | ₹ 12,500+(TI-₹ 5,00,000) * 10% | |
| 4 | ₹ 7,50,001 to ₹ 10,00,000 | ₹ 37,500+(TI-₹ 7,50,000) * 15% | |
| 5 | ₹ 10,00,001 to ₹ 12,50,000 | ₹ 75,000+(TI-₹ 10,00,000) * 20% | |
| 6 | ₹ 12,50,001 to ₹ 15,00,000 | ₹ 1,25,000+(TI-₹ 12,50,000) * 25% | |
| 7 | Greater than ₹ 15,00,000 | ₹ 1,87,500+(TI-₹ 15,00,000) * 30% |
There will be two types of tax slabs which are introduced in Budget 2020
- Scenario A – For those who like to claim Income Tax Deductions and Exemptions like 80C, 80D ….
- Scenario B – For those who DO NOT wish to claim Income Tax Deductions and Exemptions.
In addition to the above details, the taxpayer also gets the rebate under section 87A, which is also changed frequently. From FY 2019 -20 [AY 2020-2021] Tax rebate is ₹ 12500.
If your Taxable income after all deduction comes ₹ 5 Lakhs, you are liable to pay ₹ 12500, Now the role of section 87A step in which allow you to get a tax rebate of ₹ 12500.
Refer table below:
| S. No. | Financial Year | Rebate Available |
| 1 | 2019-20 | ₹ 12,500 |
| 2 | 2018-19 | ₹ 2,500 |
| 3 | 2017-18 | ₹ 2,500 |
| 4 | 2016-17 | ₹ 5,000 |
| 5 | 2015-16 | ₹ 2,000 |
| 6 | 2014-15 | ₹ 2,500 |
| 7 | 2013-14 | ₹ 2,500 |
According to the above information, you can see the change in taxable income, which is changed by ₹ 50,000 to ₹ 5,00,000 (1000 % change).
This percentage clearly shows the change of Income an individual holds in their pocket.
A very good compilation of Information. Ver
A very good compilation of Information.
Useful to Senior Citizen also
nice analysis sir