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Income Tax Rates – AY 2021-22 (FY 2020-21)

In India, Income Tax (IT) is levied on the income of a taxable person based on pre-decided tax rates. Under the Income Tax Act, the word “Person’ can mean: Individual Hindu Undivided Family (HUF) Company Firm Association of Persons (AOP)/Body of Individuals (BOI) Local authority Every artificial juridical person not mentioned above. The rate of … Read moreIncome Tax Rates – AY 2021-22 (FY 2020-21)

Income Tax Rates – AY 2020-21 (FY 2019-20)

Income Tax is a direct tax charged on the income of an assessee. Different classes of taxpayers are taxed differently under the Indian Income Tax laws. In the case of individuals, the taxable income of the assessee is grouped into income blocks, commonly known as slabs. The tax rates are decided based on the income … Read moreIncome Tax Rates – AY 2020-21 (FY 2019-20)

Income Tax Slab Rates – FY 2018-19

Income Tax is a direct tax charged by the government from its citizens directly. This tax is charged at an individual level based on the income group of taxpayers. There are different slab rates for different income groups, which will be discussed in this article. The topics covered in this article are: Factors for Income … Read moreIncome Tax Slab Rates – FY 2018-19