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Computation of Tax for ‘Individual or HUF’ in case both Opting and without Opting New Tax Regime of Section 115BAC

(A) If an 'Individual or HUF' has Not Opted for New Tax Regime of Section 115BAC

Taxable Income

 

 

(Resident Individual)
-

( Resident Senior Citizen)

( Resident Super Senior Citizen)

Tax Payable

Tax Payable

Tax Payable

A.Y. 2021-22

A.Y. 2020-21

A.Y. 2021-22

A.Y. 2020-21

A.Y. 2021-22

A.Y. 2020-21

2,50,000

-

-

-

-

-

-

3,00,000

-

-

-

-

-

-

3,50,000

-

-

-

-

-

-

4,00,000

-

-

-

-

-

-

4,50,000

-

-

-

-

-

-

5,00,000

-

-

-

-

-

-

7,50,000

65,000

65,000

62,400

62,400

52,000

52,000

10,00,000

1,17,000

1,17,000

1,14,400

1,14,400

1,04,000

1,04,000

15,00,000

2,73,000

2,73,000

2,70,400

2,70,400

2,60,000

2,60,000

20,00,000

4,29,000

4,29,000

4,26,400

4,26,400

4,16,000

4,16,000

30,00,000

7,41,000

7,41,000

7,38,400

7,38,400

7,28,000

7,28,000

50,00,000

13,65,000

13,65,000

13,62,400

13,62,400

13,52,000

13,52,000

1,00,00,000

32,17,500

32,17,500

32,14,640

32,14,640

32,03,200

32,03,200

2,00,00,000

69,51,750

69,51,750

69,48,760

69,48,760

69,36,800

69,36,800

5,00,00,000

1,92,56,250

1,92,56,250

1,92,53,000

1,92,53,000

1,92,40,000

1,92,40,000

7,00,00,000

2,96,53,650

2,96,53,650

2,96,50,088

2,96,50,088

2,96,35,840

2,96,35,840

(B) If an 'Individual or HUF' has Opted for New Tax Regime of Section 115BAC

Taxable Income Tax under New Tax Regime of Sec. 115BAC

2,50,000

-

3,00,000

-

3,50,000

-

4,00,000

-

4,50,000

-

5,00,000

-

7,50,000

39,000

10,00,000

78,000

15,00,000

1,95,000

20,00,000

3,51,000

30,00,000

6,63,000

50,00,000

12,87,000

1,00,00,000

31,31,700

2,00,00,000

68,62,050

5,00,00,000

1,91,58,750

7,00,00,000

2,95,46,790
Rates of Surcharge on Income-Tax for the Financial Year 2020-21 (AY: 2021-22) Tax Amendments in Finance Bill 2020 ‘Calculation of Tax’ in case of ‘Salaried Person’ under new Regime of Section 115BAC
Income Tax Slab for Financial Year 2020-21 (AY : 2021-22)

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