Login

New User / Forgot Password

Welcome

Change Login

Change Password

Edit Profile

Logout

Register

By logging in you agree to our Terms and Conditions and Privacy Policy

  • call us +91 22- 24360696 / 24312770
  • Login
  • Help
  • Home
  • Know Us
    • About Us
    • Photo Gallery
    • Awards
    • Certificates
    • Client Testimonials
  • Our Services
    • My Portfolio
    • Calculators
    • eGreetings
  • Our Products
    • Life Insurance
    • Mutual Funds
      • Top Performing Funds
      • Dividend Declared
      • New Funds Offer
      • Search Funds
    • Health Insurance
    • Personal Accident
    • Travel Insurance
    • Motor Insurance
    • FD's & Bonds
    • Small Savings
  • Useful Information
    • Tax Info
    • Articles
    • Industry News
    • Learning Center
      • Tax Guide
      • Insurance Guide
      • FAQs
      • Glossary
    • TPA
    • Video
  • Downloads
    • Forms
    • KYC Forms
    • General Forms
  • Reach Us
    • Social Network
    • Contact Us
Home » Information » Tax Information
back
Share
Tweet
Tax Information
Every year with Government budget, the most common expectation an Indian citizen has is of ‘change for better’ in the Income tax slab. So to plan your investment strategy and understand how much tax liability you will incur this year let’s have a look at the tax structure for different categories. These categories are created by the Government of India for taxation purposes, and they are based on Gender and Age.
  • 2020-2021
  • 2019-2020
  • 2018-2019
  • 2017-2018
  • 2016-2017
Income Tax Slabs 2020-2021 for Individuals & HUF below 60 years of age
 

Net income range

Income-Tax rate

Up to Rs. 2,50,000

Nil

Rs. 2,50,001- Rs. 5,00,000

5%

Rs. 5,00,001- Rs. 10,00,000

20%

Above Rs. 10,00,000

30% 

*Rebate of Rs 12,500 will be available for taxpayers with taxable income up to Rs 5 lakh available under Section 87A
Income Tax Slabs 2020-2021 for Senior Citizens (Aged 60 years but less than 80 years)
 

Net income range

Income-Tax rate

Up to Rs. 3,00,000

Nil

Rs. 3,00,001 – Rs. 5,00,000

5%

Rs. 5,00,001- Rs. 10,00,000

20%

Above Rs. 10,00,000

30%

*Rebate of Rs 12,500 will be available for taxpayers with taxable income up to Rs 5 lakh available under Section 87A
Income Tax Slabs 2020-2021 for Super Senior Citizens (Above 80 years)
 

Net income range

Income-Tax rate

Up to Rs. 5,00,000

Nil

Rs. 5,00,001- Rs. 10,00,000

20%

Above Rs. 10,00,000

30%

*Rebate of Rs 12,500 will be available for taxpayers with taxable income up to Rs 5 lakh available under Section 87A
Tax rates if the Assesse has opted for section 115BAC [Applicable in case of all Individuals & HUF]
 

Total Income

Rate of tax

Up to Rs. 2,50,000

 Nil

From Rs. 2,50,001 to Rs. 5,00,000

5%

From Rs. 5,00,001 to Rs. 7,50,000

10%

From Rs. 7,50,001 to Rs. 10,00,000

15%

From Rs. 10,00,001 to Rs. 12,50,000

20%

From Rs. 12,50,001 to Rs. 15,00,000

25%

Above Rs. 15,00,000

30%

Plus: - 
Surcharge: - 10% of income tax where total income exceeds Rs. 50,00,000.  
                      15% of income tax where total income exceeds Rs. 1,00,00,000.  
                      25% of income tax where total income exceeds Rs. 2,00,00,000.  
                      37% of income tax where total income exceeds Rs. 5,00,00,000.
Note: Enhanced surcharged levied at the rates of 25%/37% shall not be levied in case of income accessable under sections 111A / 112A or 115AD. Hence, the maximum rate of surcharge on tax payable on such incomes shall be 15%.
Income tax slabs 2019-2020 for Individuals & HUF below 60 years of age
Taxable income slabs Tax and Cess Change In Amount
Income tax rates and cess  Educational cess Post Budget Tax Liability Increase in TAX due to cess
Up to Rs 2.5 lakhs  Nil Nil - -
Rs 2,50,001 to Rs 5,00,000 5% of (Total income minus Rs 2,50,000) + 4% cess   2% of Income Tax 13000 125
Rs 5,00,001 to Rs 10,00,000  Rs 12,500 + 20% of (Total income minus Rs 5,00,000) + 4% cess  2% of Income Tax 1,17,000 1125
Rs 10,00,001 and above   Rs 1,12,500 + 30% of (Total income minus Rs 10,00,000) + 4% cess   2% of Income Tax 2,73,000 2625
*Rebate of Rs 12,500 will be available for taxpayers with taxable income up to Rs 5 lakh available under Section 87A
Income tax slabs 2019-2020 for Senior citizens (Aged 60 years but less than 80 years)
Taxable income slabs Tax and Cess Change In Amount
Income tax rates and cess  Educational cess Post Budget Tax Liability Increase in TAX due to cess
Up to Rs 3 lakhs   Nil Nil - -
Rs 3,00,001 to Rs 5,00,000  5% of (Total income minus Rs 3,00,000) + 4% cess  2% of Income Tax 10400 100
Rs 5,00,001 to Rs 10,00,000  Rs 10,000 + 20% of (Total income minus Rs 5,00,000) + 4% cess  2% of Income Tax 1,14,400 1100
Rs 10,00,001 and above  Rs 1,10,000 + 30% of (Total income minus Rs 10,00,000) + 4% cess  2% of Income Tax 2,70,400 2600
*Rebate of Rs 12,500 will be available for taxpayers with taxable income up to Rs 5 lakh available under Section 87A
Income tax slabs 2019-2020 for Super Senior citizens (Above 80 Years)
Taxable income slabs Tax and Cess Change In Amount
Income tax rates and cess  Educational cess Post Budget Tax Liability Increase in TAX due to cess
Up to Rs 5 lakhs    Nil Nil - -
Rs 5,00,001 to Rs 10,00,000  20% of (Total income minus Rs 5,00,000) + 4% cess   2% of Income Tax 1,04,000 1000
Rs 10,00,001 and above   Rs 1,00,000 + 30% of (Total income minus Rs 10,00,000) + 4% cess   2% of Income Tax 2,60,000 2500


Surcharges to be levied for FY 2019-20:
Taxable Income Surcharge (%)
Income above Rs 50 lakh but below Rs 1 crore  10
Income above Rs 1 crore but below Rs 2 crore  15
Income above Rs 2 crore but below 5 crore   25
Income above Rs 5 crore 37
For Non-resident individuals (NRI), the basic exemption limit is of Rs 2.5 lakh in a financial year irrespective of their age.
A resident individual can also avail rebate under Section 87(A) whose net income is equal to or less than Rs 3.5 lakh. The amount of rebate under this section is 100% of the income tax or Rs 2,500 whichever is less. It is deductible before calculating the cess.
What changed for Super HNIs?
Income Between 2 Crore and 5 Crore
  Existing Proposed
Total Income 3,00,00,000 3,00,00,000
Deduction Claimed -6,00,000 -6,00,000
New Taxable Income 2,94,00,000 2,94,00,000
Tax on this 86,32,500 86,32,500
Surcharge 12,94,875 21,58,125
Cess 3,97,095 4,31,625
Total Tax 1.03 Crore 1.12 Crore
Higher By 8.98 Lakh Per Year
74,815 Per Year


Income Above 5 Crore
  Existing Proposed
Total Income 6,00,00,000 6,00,00,000
Deduction Claimed -10,00,000 -10,00,000
New Taxable Income 5,90,00,000 5,90,00,000
Tax on this 1,75,12,500 1,75,12,500
Surcharge 26,26,875 64,79,625
Cess 8,05,575 9,59,685
Total Tax 2.09 Crore 2.49 Crore
Higher By 40 Lakh Per Year
3.33 Lakh Per Year
Income tax slabs 2018-19 for Individuals & HUF
Income tax slab (in Rs.) Tax percentage Education Cess Surcharge
0 to 250000 Nil Nil Nil
250001 to 350000 5%* 4% Nil
250001 to 500000 5% 4% Nil
500001 to 1000000 20% 4% Nil
1000001 to 5000000 30% 4% Nil
5000001 to 10000000 30% 4% 10%
10000001 & Above 30% 4% 15%
*Rebate of Rs.2500 can be claimed by individuals earning between Rs 2.5 lakh and Rs 3.5 lakh u/s87A
Income tax slabs 2018-19- for Senior citizens (Aged 60 years but less than 80 years)
Income tax slab (in Rs.) Tax percentage Education Cess Surcharge
0 to 300000 Nil Nil Nil
300001 to 350000 5%* 4% Nil
300001 to 500000 5% 4% Nil
500000 to 1000000 20% 4% Nil
1000001 to 5000000 30% 4% Nil
5000001 to 10000000 30% 4% 10%
10000001 & Above 30% 4% 15%
*Rebate of Rs.2500 can be claimed by individuals earning between Rs 2.5 lakh and Rs 3.5 lakh u/s87A
Income tax slabs 2018-19 - for Very Senior citizens (Above 80 years)
Income tax slab (in Rs.) Tax percentage Education Cess Surcharge
0 to 500000 Nil Nil Nil
500001 to 1000000 20% 4% Nil
1000001 to 5000000 30% 4% Nil
5000001 to 10000000 30% 4% 10%
10000001 & Above 30% 4% 15%
Surcharge: If the total income exceeds Rs 50 Lakhs but below Rs 1 crore, a surcharge of 10% will be levied. 15% surcharge on income tax if the total income is over and above Rs 1 cr
Income tax slabs 2017-2018 for Individuals & HUF
Income tax slab (in Rs.) Tax percentage Education Cess Surcharge
0 to 250000 Nil Nil Nil
250001 to 350000 5%* 3% Nil
250001 to 500000 5% 3% Nil
500001 to 1000000 20% 3% Nil
1000001 to 5000000 30% 3% Nil
5000001 to 10000000 30% 3% 10%
10000001 & Above 30% 3% 15%
* U/S 87A, Tax rebate of Rs 2,500 for individuals with income of up to Rs 3.5 Lakh has been proposed
Income tax slabs 2017-2018 - for Senior citizens (Aged 60 years but less than 80 years)
Income tax slab (in Rs.) Tax percentage Education Cess Surcharge
0 to 300000 Nil Nil Nil
300001 to 350000 5%* 3% Nil
300001 to 500000 5% 3% Nil
500000 to 1000000 20% 3% Nil
1000001 to 5000000 30% 3% Nil
5000001 to 10000000 30% 3% 10%
10000001 & Above 30% 3% 15%
* U/S 87A, Tax rebate of Rs 2,500 for individuals with income of up to Rs 3.5 Lakh has been proposed
Income tax slabs 2017-2018 - for Very Senior citizens (Above 80 years)
Income tax slab (in Rs.) Tax percentage Education Cess Surcharge
0 to 500000 Nil Nil Nil
500001 to 1000000 20% 3% Nil
1000001 to 5000000 30% 3% Nil
5000001 to 10000000 30% 3% 10%
10000001 & Above 30% 3% 15%
Surcharge: If the total income exceeds Rs 50 Lakhs but below Rs 1 crore, a surcharge of 10% will be levied. 15% surcharge on income tax if the total income is over and above Rs 1 cr
India Income tax slabs 2016-2017 for General tax payers and Women
S. No. Income tax slab (in Rs.) Tax percentage
1 0 to 2,50,000 No tax
2 2,50,001 to 5,00,000 10%
3 5,00,001 to 10,00,000 20%
4 Above 10,00,000 30%
India Income tax slabs 2016-2017 - for Senior citizens (Aged 60 years but less than 80 years)
S. No. Income tax slab (in Rs.) Tax percentage
1 0 to 3,00,000 No tax
2 3,00,001 to 5,00,000 10%
3 5,00,001 to 10,00,000 20%
4 Above 10,00,000 30%
India Income tax slabs 2016-2017 - for Very Senior citizens (Above 80 years)
S. No. Income tax slab (in Rs.) Tax percentage
1 0 to 5,00,000 No tax
2 5,00,001 to 10,00,000 20%
3 Above 10,00,000 30%
India Income tax slabs 2015-2016 for General tax payers and Women
S. No. Income tax slab (in Rs.) Tax percentage
1 0 to 2,50,000 No tax
2 2,50,001 to 5,00,000 10%
3 5,00,001 to 10,00,000 20%
4 Above 10,00,000 30%
India Income tax slabs 2015-2016 - for Senior citizens (Aged 60 years but less than 80 years)
S. No. Income tax slab (in Rs.) Tax percentage
1 0 to 3,00,000 No tax
2 3,00,001 to 5,00,000 10%
3 5,00,001 to 10,00,000 20%
4 Above 10,00,000 30%
India Income tax slabs 2015-2016 - for Very Senior citizens (Above 80 years)
S. No. Income tax slab (in Rs.) Tax percentage
1 0 to 5,00,000 No tax
2 5,00,001 to 10,00,000 20%
3 Above 10,00,000 30%
Disclaimer of Warranties
You expressly agree the use of the service is at your sole risk. The service is provided on an "as is" and "as available" basis. www.rkshetty.com expressly disclams all warranties of any kind, whether express or implied, including, but not limited to the implied warranties of merchantability, fitness for a particular purpose and non-infringement . www.rkshetty.com makes no warranty the services will meet your requirements, or the services will be uninterrupted, timely, secure, or error free. Nor does www.rkshetty.com make any warranty as to the results that may be obtained through the service or that defects in the software will be corrected. You understand and agree any material and/ or data downloaded or otherwise obtained through the use of the service is done at your own discretion and risk and you will be solely responsible for any damage to your computer systems or loss of data that results from the download of such material and/ or data. www.rkshetty.com makes no warranty regarding any goods or services purchased or obtained through the service or any transactions entered into through the service. No advice or information, whether oral or written, which you obtain from www.rkshetty.com or through the service shall create any warranty not expressly made herein. You acknowledge that www.rkshetty.com site may contain links to other web sites operated by third parties ("linked sites"). You acknowledge that, when you click on a link to visit a linked site, a frame may appear that contains the www.rkshetty.com logo, advertisements and/ or other content selected by www.rkshetty.com. You acknowledge that www.rkshetty.com and its sponsors neither endorse nor are affiliated with the linked site or any link contained in a link site, or any changes or updates to such sites. You also acknowledge that www.rkshetty.com is providing these links to you only as a convenience. www.rkshetty.com does not endorse in anyway any advertisers/ contents of advertisers on its webpages. Please therefore verify the veracity of all information on your own before undertaking reliance and actioning thereupon. www.rkshetty.com shall not be responsible nor liable for any consequential damages arising on account of your relying on the contents of the advertisement.
Privacy Policy
This site is the responsibility of www.rkshetty.com

We want you to

  • feel comfortable using our web sites
  • feel secure submitting information to us
  • contact us with your questions or concerns about privacy on this site
  • know that by using our site you are consenting to the collection of certain data
What Information is, or may be, collected from you?

We will collect certain anonymous information in standard usage logs through our Web server, including: computer-identification information obtained from "cookies," sent to your browser from a

  • web server and stored on your hard drive
  • an IP address, assigned to the computer which you use
  • the domain server through which you access our service
  • the type of computer you're using
  • the type of web browser you're using
We may collect the following personally identifiable information about you:

  • name
  • email address
  • ZIP/Postal code
  • demographic profile (like your age, gender,occupation and education);
  • financial information (like annual income or insurance policy number); and
  • opinions of features on our websites.
Who collects the information?

We will collect anonymous traffic information from you when you visit our site

We will collect personally identifiable information about you only as part of a voluntary registration process.

Our advertisers may collect anonymous traffic information from their own assigned cookies to your browser

The Site contains links to other Web sites. We are not responsible for the privacy practices of such Web sites

We offer a collection of online services which are available to you. Please understand that any information that is disclosed in these areas becomes public information. We have no control over its use and you should exercise caution when disclosing your personal information to anyone

How's the information used?

We use personal information to:

  • help us provide personalized features
  • tailor our sites to your interest
  • get in touch with you when necessary
We use contact information internally to:

  • direct our efforts for product improvement
  • contact you as a survey respondent
  • notify you if you win any contest; and
  • send you promotional materials
Generally, we use anonymous traffic information to:

  • remind us of who you are in order to deliver to you a better and more personalized service from both an advertising and an editorial perspective
  • recognize your access privileges to our Web sites
  • make sure that you don't see the same ad repeatedly
  • help diagnose problems with our server
  • administer our Web sites
  • track your session so that we can understand better how people use our sites
With whom will your information be shared?

We will not disclose any of your personally identifiable information to third parties unless:

  • we have your permission
  • special circumstances such as compliance with legal authorities
  • require disclosure
We will not use your financial information for any purpose other than to provide services to you.

What choices are available to you regarding collection, use and distribution of your information?

Supplying personally identifiable information is entirely voluntary. You are not required to register with us in order to use our site. However, we offer some services only to visitors who do register.

Upon request, we will remove your personally identifiable information from our database, thereby canceling your registration.

If we plan to use your personally identifiable information for any commercial purposes, we will notify you at the time we collect that information and allow you to opt-out of having your information used for those purposes.

All sites that are customizable require that you accept cookies. You also must accept cookies to register as someone for access to some of our services. e.g Online Portfolio. For information on how to set your browser to alert you to cookies, or to reject cookies, go to http://www.cookiecentral.com/faq/.

What security procedures are in place to protect information from loss, misuse or alteration?

To protect against the loss, misuse and alteration of the information under our control, we have in place appropriate physical, electronic and managerial procedures. For example, our servers are accessible only to authorized personnel.

Although we will endeavor to safeguard the confidentiality of your personally identifiable information, transmissions made by means of the Internet cannot be made absolutely secure. By using this site, you agree that we will have no liability for disclosure of your information due to errors in transmission or unauthorized acts of third parties.

Policy Updates

We reserve the right to change or update these policies at any time upon reasonable notice, effective immediately upon posting to this site.

Disclaimer Privacy Policy Contact Us Feedback Search the Site Sitemap

© 2018 All rights reserved | www.rkshetty.com

Disclaimer of Warranties
You expressly agree the use of the service is at your sole risk. The service is provided on an "as is" and "as available" basis. www.rkshetty.com expressly disclams all warranties of any kind, whether express or implied, including, but not limited to the implied warranties of merchantability, fitness for a particular purpose and non-infringement . www.rkshetty.com makes no warranty the services will meet your requirements, or the services will be uninterrupted, timely, secure, or error free. Nor does www.rkshetty.com make any warranty as to the results that may be obtained through the service or that defects in the software will be corrected. You understand and agree any material and/ or data downloaded or otherwise obtained through the use of the service is done at your own discretion and risk and you will be solely responsible for any damage to your computer systems or loss of data that results from the download of such material and/ or data. www.rkshetty.com makes no warranty regarding any goods or services purchased or obtained through the service or any transactions entered into through the service. No advice or information, whether oral or written, which you obtain from www.rkshetty.com or through the service shall create any warranty not expressly made herein. You acknowledge that www.rkshetty.com site may contain links to other web sites operated by third parties ("linked sites"). You acknowledge that, when you click on a link to visit a linked site, a frame may appear that contains the www.rkshetty.com logo, advertisements and/ or other content selected by www.rkshetty.com. You acknowledge that www.rkshetty.com and its sponsors neither endorse nor are affiliated with the linked site or any link contained in a link site, or any changes or updates to such sites. You also acknowledge that www.rkshetty.com is providing these links to you only as a convenience. www.rkshetty.com does not endorse in anyway any advertisers/ contents of advertisers on its webpages. Please therefore verify the veracity of all information on your own before undertaking reliance and actioning thereupon. www.rkshetty.com shall not be responsible nor liable for any consequential damages arising on account of your relying on the contents of the advertisement.
Privacy Policy
This site is the responsibility of www.rkshetty.com

We want you to

  • feel comfortable using our web sites
  • feel secure submitting information to us
  • contact us with your questions or concerns about privacy on this site
  • know that by using our site you are consenting to the collection of certain data
What Information is, or may be, collected from you?

We will collect certain anonymous information in standard usage logs through our Web server, including: computer-identification information obtained from "cookies," sent to your browser from a

  • web server and stored on your hard drive
  • an IP address, assigned to the computer which you use
  • the domain server through which you access our service
  • the type of computer you're using
  • the type of web browser you're using
We may collect the following personally identifiable information about you:

  • name
  • email address
  • ZIP/Postal code
  • demographic profile (like your age, gender,occupation and education);
  • financial information (like annual income or insurance policy number); and
  • opinions of features on our websites.
Who collects the information?

We will collect anonymous traffic information from you when you visit our site

We will collect personally identifiable information about you only as part of a voluntary registration process.

Our advertisers may collect anonymous traffic information from their own assigned cookies to your browser

The Site contains links to other Web sites. We are not responsible for the privacy practices of such Web sites

We offer a collection of online services which are available to you. Please understand that any information that is disclosed in these areas becomes public information. We have no control over its use and you should exercise caution when disclosing your personal information to anyone

How's the information used?

We use personal information to:

  • help us provide personalized features
  • tailor our sites to your interest
  • get in touch with you when necessary
We use contact information internally to:

  • direct our efforts for product improvement
  • contact you as a survey respondent
  • notify you if you win any contest; and
  • send you promotional materials
Generally, we use anonymous traffic information to:

  • remind us of who you are in order to deliver to you a better and more personalized service from both an advertising and an editorial perspective
  • recognize your access privileges to our Web sites
  • make sure that you don't see the same ad repeatedly
  • help diagnose problems with our server
  • administer our Web sites
  • track your session so that we can understand better how people use our sites
With whom will your information be shared?

We will not disclose any of your personally identifiable information to third parties unless:

  • we have your permission
  • special circumstances such as compliance with legal authorities
  • require disclosure
We will not use your financial information for any purpose other than to provide services to you.

What choices are available to you regarding collection, use and distribution of your information?

Supplying personally identifiable information is entirely voluntary. You are not required to register with us in order to use our site. However, we offer some services only to visitors who do register.

Upon request, we will remove your personally identifiable information from our database, thereby canceling your registration.

If we plan to use your personally identifiable information for any commercial purposes, we will notify you at the time we collect that information and allow you to opt-out of having your information used for those purposes.

All sites that are customizable require that you accept cookies. You also must accept cookies to register as someone for access to some of our services. e.g Online Portfolio. For information on how to set your browser to alert you to cookies, or to reject cookies, go to http://www.cookiecentral.com/faq/.

What security procedures are in place to protect information from loss, misuse or alteration?

To protect against the loss, misuse and alteration of the information under our control, we have in place appropriate physical, electronic and managerial procedures. For example, our servers are accessible only to authorized personnel.

Although we will endeavor to safeguard the confidentiality of your personally identifiable information, transmissions made by means of the Internet cannot be made absolutely secure. By using this site, you agree that we will have no liability for disclosure of your information due to errors in transmission or unauthorized acts of third parties.

Policy Updates

We reserve the right to change or update these policies at any time upon reasonable notice, effective immediately upon posting to this site.

Know Us

  • About Us
  • Photo Gallery
  • Certificates
  • Awards
  • Client Testimonials

Useful Information

  • Tax Info
  • Articles
  • Industry News
  • Learning Center
    • Tax Guide
    • Insurance Guide
    • FAQs
    • Glossary
  • TPA
  • Video Gallery

Our Products

  • Life insurance
  • Mutual Funds
    • Top Performing Funds
    • Dividend Declared
    • New Funds Offer
    • Search Funds
  • Health Insurance
  • Personal Accident
  • Travel Insurance
  • Motor Insurance
  • FD's & Bonds
  • Small Savings

Our Services

  • My Portfolio
  • Calculator
  • eGreetings

Downloads

  • Forms
  • KYC Forms
  • General Forms

Reach Us

  • Social Network
  • Contact Us

Keep in Touch

All Rights Reserved © 2018 www.rkshetty.com

  • Disclaimer
  • Privacy Policy
  • Contact Us
  • Feedback
  • Search the site
  • Site Map