Tax slabs for salaried person for tax year 2020/2021 June 22, 2020
Following are the tax slabs for salaried persons to be applicable during tax year 2021 (2020/2021).
| S. No. | Taxable income | Rate of tax |
| (1) | (2) | (3) |
| 1. | Where taxable income does not exceed Rs. 600,000 | 0% |
| 2. | Where taxable income exceeds Rs. 600,000 but does not exceed Rs. 1,200,000 | 5% of the amount exceeding Rs. 600,000 |
| 3. | Where taxable income exceeds Rs. 1,200,000 but does not exceed Rs. 1,800,000 | Rs. 30,000 plus 10% of the amount exceeding Rs. 1,200,000 |
| 4. | Where taxable income exceeds Rs. 1,800,000 but does not exceed Rs. 2,500,000 | Rs. 90,000 plus 15% of the amount exceeding Rs. 1,800,000 |
| 5. | Where taxable income exceeds Rs.2,500,000 but does not exceed Rs. 3,500,000 | Rs. 195,000 plus 17.5% of the amount exceeding Rs. 2,500,000 |
| 6. | Where taxable income exceeds Rs. 3,500,000 but does not exceed Rs. 5,000,000 | Rs. 370,000 plus 20% of the amount exceeding Rs. 3,500,000 |
| 7. | Where taxable income exceeds Rs. 5,000,000 but does not exceeds Rs. 8,000,000 | Rs. 670,000 plus 22.5% of the amount exceeding Rs. 5,000,000 |
| 8. | Where taxable income exceeds Rs. 8,000,000 but does not exceeds Rs. 12,000,000 | Rs. 1,345,000 plus 25% of the amount exceeding Rs. 8,000,000 |
| 9. | Where taxable income exceeds Rs. 12,000,000 but does not exceeds Rs. 30,000,000 | Rs. 2,345,000 plus 27.5% of the amount exceeding Rs. 12,000,000 |
| 10. | Where taxable income exceeds Rs. 30,000,000 but does not exceeds Rs. 50,000,000 | Rs. 7,295,000 plus 30% of the amount exceeding Rs. 30,000,000 |
| 11. | Where taxable income exceeds Rs. 50,000,000 but does not exceeds Rs. 75,000,000 | Rs. 13,295,000 plus 32.5% of the amount exceeding Rs. 50,000,000 |
| 12. | Where taxable income exceeds Rs. 75,000,000 | Rs. 21,420,000 plus 35% of the amount exceeding Rs. 75,000,000] |