Tax Rates and Tax Tables

Tax Rates and

Tax Tables

The tax rates for assessment year 2020-21 & 2019-20 can be explained

with the help of following comparative tables:

A resident individual, whose taxable income does not exceed `5, 00,000, can claim a tax rebate

under section 87A. The amount of rebate shall be lower of 100% of income-tax or `12,500.

**A resident individual, whose taxable income does not exceed `3, 50,000, can claim a tax

rebate under section 87A. The amount of rebate shall be lower of 100% of income-tax or

`2,500.

Health & Education Cess:

The health & education cess at the rate of 4% shall be computed on aggregate of

Income-Tax and Surcharge.

CVPRASAD