Income Tax Slabs for 2020-21 Financial Year and 2021-22 Assessment Year

Income Tax Slabs for 2020-2021 Financial Year and 2021-22  Personal Tax Slabs, Rates.Income Tax Slabs, Rates Remain Unchanged, Standard Reduction Raised to Rs 50,000.New Income Tax Slab 2020-21.New In Income Tax Slabs, Introduces Standard Deductions.Get income tax slab rates for ay 2020-21 here for individuals, senior citizens, partnership firms, local authority.Income Tax slabs in Budget 2020-21.

READ: IT Software   for AP &Telangana | Income Tax Claculation Software Program for AY 2021-22

Income tax slabs under the new tax regime for all individuals for FY 2020-21 (AY 2021-22) New Budget 2020 : 

Income Tax Slab	Tax Rate
Up to Rs 2.5 lakh	NIL
Rs 2.5 lakh to Rs 5 lakh	5% (Tax rebate of Rs 12,500 available under section 87A)
Rs 5 lakh to Rs 7.5 lakh	10%
Rs 7.5 lakh to Rs 10 lakh	15%
Rs 10 lakh to Rs 12.5 lakh	20%
Rs 12.5 lakh to Rs 15 lakh	25%
Rs 15 lakh and above	30%

---

Income Tax Slab Rates for FY 2019-20 (AY 2020-21)
IT 2019-20 new slabs below shown
For Individual Male/Female with age <60 Yrs
Taxable Income Up to Rs. 2,50,000 – Nil
Rs. 2,50,000 to 5,00,000 – 5%
Rs. 5,00,000 to 10,00,000 – 20%
Rs. 10,00,000 & above – 30%

For More details Read:  Budget 2020 Income Tax New Slab rates for 2020-21 Revised tax Rates , income tax calculator

Individual Tax

1. Rebate under section-87A  : As per the amendments to Section 87A, if your annual taxable income is INR 5,00,000 or lower, you can avail the tax rebate. The existing laws made way for a 2,500 income tax rebate. However, the updated law ensured that the limit was increased to a 12,500 income tax rebate
2. Standard Deduction for salaried tax payers increased from Rs. 40,000 to Rs. 50,000.
3. Rent exempted from TDS increased to Rs. 2.4 lakh from Rs. 1.8 lakh.
4. TDS exemption on interest on post office and bank deposits raised from Rs. 10,000 to Rs. 40,000.
5. Gratuity limit increased from Rs. 10 Lakh to Rs. 30 lakh.
6. Exemption on Capital Gains Tax under Section 54 of up to Rs. 2 crore on residential property can now be claimed for investment of proceeds in 2 residential properties once in a lifetime.
7. IT returns and refunds to be processed within 24 hours.
8. IT scrutiny to be made simpler with digital-unmanned system where the identity of the IT officer and tax payer remains anonymous.

S.NO.	INCOME TAX SOFTWARE	DOWNLOAD
1	IT Software 2020-21 for AP & Telangana for AY 2021-22	Click Here
2	KSS Prasad Income Tax Software FY 2020-21	Click Here
3	Putta Srinivas Reddy Income Tax Software FY 2020-21	Click Here
4	Vijay Kumar Income Tax Software FY 2020-21	Click Here
5	Zaheeruddin STO, Kakinada IT Software FY 2020-21	Click Here
6	C.Ramanjaneyulu Income Tax Software FY 2020-21	Click Here
7	B.Srinivasa Chary Income Tax Software FY 2020-21	Click Here
8	Seshadri Income Tax Software FY 2020-21	Click Here
9	Ramzan Ali Income Tax Software FY 2020-21	Click Here
10	Mobile Version Income Tax Software FY 2020-21	Click Here
11	Model School Teachers (APMS IT)   Software FY 2020-21	Click Here
12	DSC Wise Teachers IT Calculation Tables 2020-21 for AP, TS	Click Here
13	IT  Softwares 2020-21 AP TS Teachers, Employees with PRC Arrears	Click Here
14	AP Employee Online Salary Details, Online Employee Pay Details	Click Here
15	TS Employees, Teachers Pay details, Month wise Salary Statement	Click Here
16	Telangana Employees  Salary certificate	Click Here
17	How to Download SBI Home Loan Statement Interest and Principal	Click Here
18	How to Get LIC Premium Statements for Income Tax Purpose	Click Here
19	How to Pay PLI ( Postal Life Insurance ) Premium Online	Click Here
20	Tax Rebate u/s 87A Income Tax Exemption Guide	Click Here
21	Income Tax Slab Rates and Deductions Analysis for FY 2020-21	Click Here
22	How to do Income Tax E-Filing Online Step by Step Process	Click Here
23	Income Tax e-Filing Processed (Confirmed) OR Not? Check Here	Click Here

---

#Updated Income Tax Software 2020-21 for AP &TS
# Income Tax Exemption Guide, Deduction Sections for 2020-21 
# Income Tax Slab Rates and Deductions for 2020-21

SHARE POST