{"id":2299,"date":"2019-10-20T18:28:27","date_gmt":"2019-10-20T12:58:27","guid":{"rendered":"https:\/\/aktassociates.com\/blog\/?p=2299"},"modified":"2019-10-20T18:28:27","modified_gmt":"2019-10-20T12:58:27","slug":"income-tax-slab-rate-for-ay-2020-21","status":"publish","type":"post","link":"https:\/\/aktassociates.com\/blog\/income-tax-slab-rate-for-ay-2020-21\/","title":{"rendered":"\u00a0Income Tax Slab Rate for AY. 2020-21"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Every person whose Total Income exceeds the prescribed slab rate is liable to pay <a href=\"https:\/\/aktassociates.com\/blog\/income-tax-rules-for-nri\/\">income tax<\/a>. Taxes shall be charged at the rate as determined by the annual finance act for such a year.<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-2300 size-full\" src=\"https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2019\/10\/income-tax-slab-and-tax-rate-in-india-2020-21.png\" alt=\"income tax slab and tax rate in india 2020-21\" width=\"700\" height=\"400\" srcset=\"https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2019\/10\/income-tax-slab-and-tax-rate-in-india-2020-21.png 700w, https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2019\/10\/income-tax-slab-and-tax-rate-in-india-2020-21-300x171.png 300w, https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2019\/10\/income-tax-slab-and-tax-rate-in-india-2020-21-20x11.png 20w\" sizes=\"(max-width: 700px) 100vw, 700px\" \/><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_66_1 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >In this article, we will discuss about...<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #1e73be;color:#1e73be\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #1e73be;color:#1e73be\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/aktassociates.com\/blog\/income-tax-slab-rate-for-ay-2020-21\/#Income_Tax_Slab_rates_for_AY_2020-21\" title=\"Income Tax Slab rates for A.Y. 2020-21\">Income Tax Slab rates for A.Y. 2020-21<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/aktassociates.com\/blog\/income-tax-slab-rate-for-ay-2020-21\/#Slab_rates_for_Partnership_Firms_and_Limited_Liability_Partnership_LLP\" title=\"Slab rates for Partnership Firms and Limited Liability Partnership (LLP)\">Slab rates for Partnership Firms and Limited Liability Partnership (LLP)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/aktassociates.com\/blog\/income-tax-slab-rate-for-ay-2020-21\/#Slab_rates_for_Local_Authority\" title=\"Slab rates for Local Authority\">Slab rates for Local Authority<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/aktassociates.com\/blog\/income-tax-slab-rate-for-ay-2020-21\/#Slab_rates_for_Co-operative_Society\" title=\"Slab rates for Co-operative Society\">Slab rates for Co-operative Society<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/aktassociates.com\/blog\/income-tax-slab-rate-for-ay-2020-21\/#Slab_rates_for_Domestic_Company\" title=\"Slab rates for Domestic Company\">Slab rates for Domestic Company<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/aktassociates.com\/blog\/income-tax-slab-rate-for-ay-2020-21\/#Slab_rates_for_Companies_other_than_Domestic_Company_Foreign_Company\" title=\"Slab rates for Companies other than Domestic Company (Foreign Company)\">Slab rates for Companies other than Domestic Company (Foreign Company)<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Income_Tax_Slab_rates_for_AY_2020-21\"><\/span><strong>Income Tax Slab rates for A.Y. 2020-21<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Slab rates for Individuals, <a href=\"https:\/\/aktassociates.com\/blog\/hindu-undivided-family-taxability-benefits\/\">Hindu Undivided Family (HUF)<\/a>, Association of Persons (AOP), Body of Individuals (BOI), Artificial Judicial Persons is fixed as follows<\/span><\/p>\n<table>\n<tbody>\n<tr>\n<td><b>Income Tax Slab<\/b><\/td>\n<td><b>Tax Rate (&lt; 60 years of age)<\/b><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Total Income less than Rs.2,50,000\/-<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Nil<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Total Income more than Rs.2,50,000\/- and less than Rs.5,00,000\/-<\/span><\/td>\n<td><span style=\"font-weight: 400;\">5% on the total income exceeding Rs.2,50,000\/-<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Total Income more than Rs.5,00,000\/- and less than Rs.10,00,000\/-<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Rs.12,500\/- plus 20% on the total income exceeding Rs.5,00,000\/-<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Total Income more than Rs.10,00,000\/-<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Rs.1,12,500\/- plus 30% on the total income exceeding Rs.10,00,000\/-<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><strong>For the Senior citizens ( &gt; 60 years of age but less than 80 years age)<\/strong><\/p>\n<table>\n<tbody>\n<tr>\n<td><b>Income Tax Slab<\/b><\/td>\n<td><b>Tax Rate (&lt; 60 years of age)<\/b><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Total Income less than Rs.3,00,000\/-<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Nil<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Total Income more than Rs.3,00,000\/- and less than Rs.5,00,000\/-<\/span><\/td>\n<td><span style=\"font-weight: 400;\">5% on the total income exceeding Rs.3,00,000\/-<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Total Income more than Rs.5,00,000\/- and less than Rs.10,00,000\/-<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Rs.10,000\/- plus 20% on the total income exceeding Rs.5,00,000\/-<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Total Income more than Rs.10,00,000\/-<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Rs.1,10,000\/- plus 30% on the total income exceeding Rs.10,00,000\/-<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><b>Note: <\/b>An additional 4% Health &amp; education cess will be applicable to the tax amount calculated as above.<\/p>\n<p><span style=\"font-weight: 400;\">In addition to the above taxes, an additional tax is levied called surcharge on the Income Tax payable at the rate as follows<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Surcharge at the rate of 10% shall be levied on the income tax payable, in the case where the total income exceeds Rs.50 Lakh but not exceeding Rs.1 Crore.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Surcharge at the rate of 15% shall be levied, in the case where the total income exceeds Rs.1 Crore.<\/span><\/li>\n<\/ul>\n<p><strong>For the Senior citizens ( &gt; 80 years of age)<\/strong><\/p>\n<table>\n<tbody>\n<tr>\n<td><b>Income Tax Slab<\/b><\/td>\n<td><b>Tax Rate (&lt; 60 years of age)<\/b><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Total Income less than Rs.5,00,000\/-<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Nil<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Total Income more than Rs.5,00,000\/- and less than Rs.10,00,000\/-<\/span><\/td>\n<td><span style=\"font-weight: 400;\">20% on the total income exceeding Rs.5,00,000\/-<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Total Income more than Rs.10,00,000\/-<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Rs.1,00,000\/- plus 30% on the total income exceeding Rs.10,00,000\/-<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><b>Note: <\/b>An additional 4% Health &amp; education cess will be applicable to the tax amount calculated as above.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Slab_rates_for_Partnership_Firms_and_Limited_Liability_Partnership_LLP\"><\/span><strong>Slab rates for Partnership Firms and Limited Liability Partnership (LLP)<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Tax Rate shall be charged at the rate of 30% on the Total Income.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Surcharge: In addition to the above tax, an additional tax is levied called surcharge at the rate of 12% on the Income Tax payable for the cases where the total income exceeds Rs.1 Crore.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Slab_rates_for_Local_Authority\"><\/span><strong>Slab rates for Local Authority<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Tax Rate shall be charged at the rate of 30% on the Total Income.<\/span><\/p>\n<p><b>Note: An additional 4% Health &amp; education cess will be applicable to the tax amount calculated as above.<\/b><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Slab_rates_for_Co-operative_Society\"><\/span><strong>Slab rates for Co-operative Society<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table>\n<tbody>\n<tr>\n<td><b>Income Tax Slab<\/b><\/td>\n<td><b>Tax Rate\u00a0<\/b><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Total Income less than Rs.10,000\/-<\/span><\/td>\n<td><span style=\"font-weight: 400;\">10% on Total Income\u00a0<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Total Income more than Rs.10,000\/- but less than Rs.20,000\/-<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Rs.1,000\/- plus 20% on the total income exceeding Rs.10,000\/-<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Total Income more than Rs.20,000\/-<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Rs.3,000\/- plus 30% on the total income exceeding Rs.20,000\/-<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><b>Note: <\/b>An additional 4% Health &amp; education cess will be applicable to the tax amount calculated as above.<\/p>\n<p><span style=\"font-weight: 400;\">Surcharge: In addition to the above tax, an additional tax is levied called surcharge at the rate of 12% on the Income Tax payable for the cases where the total income exceeds Rs.1 Crore.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Slab_rates_for_Domestic_Company\"><\/span><strong>Slab rates for Domestic Company<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table>\n<tbody>\n<tr>\n<td><b> Domestic Company<\/b><\/td>\n<td><b> Assessment Year 2019-20<\/b><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Where its total turnover or gross receipt during the previous year 2016-17 does not exceed Rs. 250 crore<\/span><\/td>\n<td><span style=\"font-weight: 400;\">25%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Where its total turnover or gross receipt during the previous year 2017-18 does not exceed Rs. 400 crore<\/span><\/td>\n<td><span style=\"font-weight: 400;\">NA<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Where it opted for Section 115BA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">25%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Where it opted for Section 115BAA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">NA<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Where it opted for <a href=\"https:\/\/aktassociates.com\/blog\/section-115bab-by-finance-act\/\">Section 115BAB<\/a><\/span><\/td>\n<td><span style=\"font-weight: 400;\">NA<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Any other domestic company<\/span><\/td>\n<td><span style=\"font-weight: 400;\">30%<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>The option has been given to pay concessional effective tax @25.17% to existing domestic companies &amp; @17.16% to new domestic manufacturing companies without availing any tax incentives\/exemptions<\/p>\n<p><b>ETR(%)\u00a0 :-effective tax rate<\/b><\/p>\n<table>\n<tbody>\n<tr>\n<td><b>SI No<\/b><\/td>\n<td><b>Nature of domestic company<\/b><\/td>\n<td><b>Current ETR(%)<\/b><\/td>\n<td><b>ETR if option<\/b><\/p>\n<p><b>exercised (%)<\/b><\/td>\n<td><b>Conditions \/ benefits if<\/b><\/p>\n<p><b>option exercised<\/b><\/td>\n<\/tr>\n<tr>\n<td rowspan=\"9\"><b>1.<\/b><\/p>\n<p><b>\u00a0<\/b><\/p>\n<p><b>\u00a0<\/b><\/p>\n<p><b>\u00a0<\/b><\/p>\n<p><b>\u00a0<\/b><\/p>\n<p><b>\u00a0<\/b><\/p>\n<p><b>\u00a0<\/b><\/td>\n<td>Existing Domestic Companies<\/td>\n<td><\/td>\n<td><\/td>\n<td rowspan=\"9\">\n<ul>\n<li style=\"font-weight: 400;\">Applicable w.e.f FY 2019-20<\/li>\n<li style=\"font-weight: 400;\">Not eligible for any tax incentives\/exemptions<\/li>\n<li style=\"font-weight: 400;\">Not required to pay MAT<\/li>\n<li style=\"font-weight: 400;\">The option has to be exercised one time on or before the due date of<a href=\"https:\/\/aktassociates.com\/blog\/income-tax-return-filing\/\"> filing of tax return<\/a><\/li>\n<li style=\"font-weight: 400;\">The option once exercised can\u2019t be withdrawn<b>.<\/b><\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<tr>\n<td>a) Turnover &gt; Rs.400 Crore during the FY 2017-18<\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td>Income \u2264 Rs.1 crore<\/td>\n<td>31.20%<\/td>\n<td>25.17%#<\/td>\n<\/tr>\n<tr>\n<td>Income &gt; Rs.1 crore \u2264 Rs.10 crore<\/td>\n<td>33.38%<\/td>\n<td>25.17%<\/td>\n<\/tr>\n<tr>\n<td>Income &gt; Rs.10 crore<\/td>\n<td>34.94%<\/td>\n<td>25.17%<\/td>\n<\/tr>\n<tr>\n<td>b) Other domestic companies ( in existence on or before 30-Sep-2019)<\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td>Income \u2264 Rs.1 crore<\/td>\n<td>26%<\/td>\n<td>25.17%<\/td>\n<\/tr>\n<tr>\n<td>Income &gt; Rs.1 crore \u2264 Rs.10 crore<\/td>\n<td>27.82%<\/td>\n<td>25.17%<\/td>\n<\/tr>\n<tr>\n<td>Income &gt; Rs.10 crore<\/td>\n<td>29.12%<\/td>\n<td>25.17%<\/td>\n<\/tr>\n<tr>\n<td>2.<\/td>\n<td>Existing Domestic Companies \u2013 Continues to avail\u00a0 tax<\/p>\n<p>incentives\/exemptions<\/td>\n<td><\/td>\n<td><\/td>\n<td>\n<ul>\n<li style=\"font-weight: 400;\">Can opt for 25.17% effective tax rate after the expiry of tax holiday\/exemption period<\/li>\n<li style=\"font-weight: 400;\">MAT rate reduced from 18.5% to 15% (plus applicable surcharge and cess)<\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<tr>\n<td rowspan=\"4\">3.<\/td>\n<td>New Domestic Manufacturing Companies incorporated on or after 01-Oct-2019<\/td>\n<td><\/td>\n<td><\/td>\n<td rowspan=\"4\">\n<ul>\n<li style=\"font-weight: 400;\">Applicable w.e.f FY 2019-20<\/li>\n<li style=\"font-weight: 400;\">Has to commence<br \/>\nmanufacturing on or before 31.03.2023<\/li>\n<li style=\"font-weight: 400;\">Not eligible for any tax<br \/>\nincentives\/exemptions<\/li>\n<li style=\"font-weight: 400;\">Not required to pay MAT<\/li>\n<li style=\"font-weight: 400;\">An option has to be exercised on or before the due date of filing of first tax return<\/li>\n<li style=\"font-weight: 400;\">Option once exercised<br \/>\ncan\u2019t be withdrawn<\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<tr>\n<td>Income \u2264 Rs.1 crore<\/td>\n<td>26%<\/td>\n<td>17.16%##<\/td>\n<\/tr>\n<tr>\n<td>Income &gt; Rs.1 crore \u2264 Rs.10 crore<\/td>\n<td>27.82%<\/td>\n<td>17.16%<\/td>\n<\/tr>\n<tr>\n<td>Income &gt; Rs.10 crore<\/td>\n<td>29.12%<\/td>\n<td>17.16%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<ul>\n<li>\u00a0Corporate tax rate @22%, Surcharge @10% &amp; Health &amp; Education Cess@4%<\/li>\n<li>\u00a0Corporate tax rate @15%, Surcharge @10% &amp; Health &amp; Education Cess@4%<\/li>\n<\/ul>\n<h2><a href=\"https:\/\/aktassociates.com\/business-compliance\/yearly-compliance\/it-return-filing\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-2208 size-full\" src=\"https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2019\/10\/IT-Return-filing-for-Business.png\" alt=\"IT Return filing for Business\" width=\"700\" height=\"150\" srcset=\"https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2019\/10\/IT-Return-filing-for-Business.png 700w, https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2019\/10\/IT-Return-filing-for-Business-300x64.png 300w, https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2019\/10\/IT-Return-filing-for-Business-20x4.png 20w\" sizes=\"(max-width: 700px) 100vw, 700px\" \/><\/a><\/h2>\n<h2><span class=\"ez-toc-section\" id=\"Slab_rates_for_Companies_other_than_Domestic_Company_Foreign_Company\"><\/span><strong>Slab rates for Companies other than Domestic Company (Foreign Company)<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Tax Rate shall be charged at the rate of 40% on the Total Income.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In addition, cess and surcharge is levied as follows: Cess: 4% of corporate tax<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Further<\/span><span style=\"font-weight: 400;\">, In addition to the above taxes, the surcharge shall be levied on the Income Tax payable at the rate as follows<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Surcharge at the rate of 2% shall be levied on the income tax payable, in the case where the total income exceeds Rs.1 Crore but not exceeds Rs.10 Crores.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Surcharge at the rate of 5% shall be levied, in the case where the total income exceeds Rs.10 Crores.<\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Every person whose Total Income exceeds the prescribed slab rate is liable to pay income tax. Taxes shall be charged &#8230; <\/p>\n<p class=\"read-more-container\"><a title=\"\u00a0Income Tax Slab Rate for AY. 2020-21\" class=\"read-more button\" href=\"https:\/\/aktassociates.com\/blog\/income-tax-slab-rate-for-ay-2020-21\/#more-2299\">Read more<span class=\"screen-reader-text\">\u00a0Income Tax Slab Rate for AY. 2020-21<\/span><\/a><\/p>\n","protected":false},"author":4,"featured_media":2301,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>\u00a0Income Tax Slab rate for A.Y. 2020-21 AKT Associates<\/title>\n<meta name=\"description\" content=\"Every person whose Total Income exceeds the prescribed slab rate is liable to pay income tax. 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