Rate of Income Tax
We thought the following information on various tax issues would be useful to you. Personal circumstances always vary, so please ensure you contact us for specific advice.
Income tax rates usually change annually. Any adjustments are announced by the Ministry of Finance, Government of India.
Income tax rates determine the tax that will be applied to your income. In India, there are different income tax rates for men, women and senior citizens. The table outlines these.
Assessment Year 2020-21, Relevant to Financial Year 2020-21
For Individuals below 60 years age (including Woman Assessees):
| Total income (Rs) | Income tax rate |
| Up to 2.5 lakh | Nil |
| From 2,50,001 to Rs 5,00,000 | 5 percent |
| From 5,00,001 to Rs 7,50,000 | 10 percent |
| From 7,50,001 to 10,00,000 | 15 percent |
| From 10,00,001 to Rs 12,50,000 | 20 percent |
| From 12,50,001 to 15,00,000 | 25 percent |
| Above 15,00,000 | 30 percent |