Financial Year 2020-2021 (Old Tax Regime)
| A. Tax Rates For Individuals (Men & Women), Hindu Undivided Families, Association of Persons and Body of Individuals | |
|---|---|
| Total Income (Rs.) | Tax Rate (%) |
| Upto Rs. 2,50,000* | Nil |
| 2,50,001 to 5,00,000 | 5 |
| 5,00,001 to 10,00,000 | 20 |
| Above Rs. 10,00,000 | 30 |
| *In the case of a resident individual of sixty years or more but less than eighty years, the basic exemption limit is Rs. 3,00,000 *Relief for Taxpayers in the first bracket of '2,50,000' to '5,00,000'. A Tax credit of 12500 to every person with total taxable income upto 5,00,000 | |
| * Deduction under section 16(ia) of Rs.50,000. | |
| The category of women below the age of 65 years has been removed | |
| B. Tax Rates For Senior Citizens (80 Years Or Above) | |
|---|---|
| Total Income (Rs.) | Tax Rate (%) |
| Upto Rs. 5,00,000* | Nil |
| 5,00,001 to 10,00,000 | 20 |
| Above Rs. 10,00,000 | 30 |
| Surcharge is @ 15% if total taxable income is in excess of Rs. 1,00,00,000 | |
| Education cess is applicable @ 4% on income tax | |
| Marginal relief may be available | |
