income tax rate chart

In this article attempt is made to discuss and summarise the changes in the Tax Rate for Domestic Companies after introduction of The Taxation Law (Amendment) Act 2019 which received the assent of the President on 11th December 2019. Detailed discussion of the newly incorporated provisions and existing provisions has been done in the subs...

Income tax slab rates are decided and governed by Income Tax Act 1961 and are subject to change every year. Here are the income tax slab rates for the Financial Year 2019-20 (relevant to Assessment Year 2020-21) for Resident Individual (Below 60 Years Old), HUF and AOP/BOI/Artificial juridical person, Senior Citizens (60 Years Or More [&h...

The new Section 115BAA and 115BAB has been inserted in the Income tax Act vide Taxation Laws (Amendment) Ordinance, 2019 to give the benefit of a lower corporate tax rate for all the domestic companies. They have the option to pay tax at a rate of 22% and 15% respectively from the FY 2019-20 onward. Also […]...

Faceless Assessments Authorities – A ‘National e-Assessment Centre’ to facilitate and centrally control the e-assessment. ‘Regional e-Assessment Centres’ under the jurisdiction of the regional Principal Chief Commissioner for making assessment. ‘Assessment units’ for identifying points or issues, material for the determi...

INCOME TAX SLABS & RATES : A.Y 2020-21 [F.Y. 2019-20] Income Tax Slab Rates for A.Y 2020-21 [F.Y. 2019-20] for Individual resident (Aged below 60 years) or Any NRI or HUF or  AOP or BOI or AJP, for Senior Citizen (Aged 60 years or more but less than 80 years),  for Very Senior Citizen (Aged […]...

Different tax rates have been provided for various categories of taxpayers and for different sources of income. Individuals/HUFs/AOP/BOI are taxed as per the different slab rates. However, companies are taxed at fixed rate, except for certain specified incomes. This write-up will provide you the information on Income Tax tax rates applica...

In this Article we updates about the normal Income tax rates applicable to different types of taxpayers for Financial Year 2019-20 . The Income tax rates discussed in this part are applicable for assessment year 2020-21 i.e. financial year 2019-20. In this part you can gain knowledge about the normal Income Tax tax rates applicable [&hell...

Most Indians see tax evasion as a mark of smartness. If the government allows you a tax break, you are free to take it. If there is a legal way you can save some of your hard-earned money from being taxed, you are free to save it. ...

Income Tax Rate Chart for Financial Year 2019-2020 i.e. Assessment Year 2020-21 for individuals and companies, covering the proposed Finance Bill 2019 amendments, are tabulated here under – Income Tax Slab for Individuals – Income Tax slab for Resident Individual (below the age of 60 years as on the last day of the relevant previous [...

This compliance book aims at helping and providing practical solutions and day to day compliance requirements to professionals, entrepreneurs and all small to large businesses as it has summarized provisions, charts and important notes with tables which can be easily understood. Compliance Hand Book contains the following- Income Tax- Inc...