Investments in PF, PPF, ELSS, NPS, Housing Loan Principal etc
Deductions u/s 80 CCD
Investments in NPS (Maximum limit 50,000)
Deductions u/s 80 D
Medical Insurance Premium (Self, Parents)
Deductions u/s 80 G
Eligible Donations
Deductions u/s 80 E
Interest Paid on Education Loan
Deductions u/s 80 TTA
Interest Received on Savings Bank A/C
Tax Benefit u/s 24
Interest Paid On Home Loan
Total Deductions/Benefits
Taxable Income
Disclaimer:The above calculator is only to enable public to have a quick and an easy access to basic tax calculation and does not purport to give correct tax calculation in all circumstances. It is advised that for filing of returns the exact calculation may be made as per the provisions contained in the relevant Acts, Rules etc.
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Income Tax Slab for AY 2019-20
Tax Slab for Individuals below 60 Years of Age
Income range per annum
New Slabs AY 2021-22
Old Slabs, mandatory upto FY 2019-20 and optional from FY2020-21
Up to Rs. 2.5 lakhs
No Tax
No tax
Above Rs. 2.5 lakhs to Rs. 5 lakhs
5%
5%
Above Rs. 5 lakhs to Rs. 7.5 lakhs
10%
20%
Above Rs. 7.5 lakhs to Rs. 10 lakhs
15%
20%
Above Rs. 10 lakhs to Rs. 12.5 lakhs
20%
30%
Above Rs. 12.5 lakhs to Rs. 15 lakhs
25%
30%
Above Rs. 15 lakhs
30%
30%
Rebate under section 87(A)
100% tax rebate subject to maximum of Rs. 2,500 available to resident individual whose total income does not exceed Rs. 3.5 lakhs
Income Tax Slab for Senior Citizens (age more than 60 years but less than 80 years FY 2019-20)
Income range per annum
New Slab, AY 2021-22
Tax Rate, AY 2020-21
Up to Rs. 3 lakhs
No Tax
No Tax
Above Rs. 3 lakh to Rs. 5 lakhs
5%
5%
Above Rs. 5 lakhs to Rs. 7.5 lakhs
10%
20%
Above Rs. 7.5 lakhs to Rs. 10 lakhs
15%
20%
Above Rs. 10 lakhs to Rs. 12.5 lakhs
20%
30%
Above Rs. 12.5 lakhs to Rs. 15 lakhs
25%
30%
Above Rs. 15 lakhs
30%
30%
Rebate under section 87(A)
100% tax rebate subject to maximum of Rs. 2,500 available to resident individual whose total income does not exceed Rs. 3.5 lakhs
Senior Citizens Tax Slab (age more than 80 years FY 2019-20)
Income range per annum
New Slab, AY 2021-22
New Slab, Tax Rate, AY 2020-21
Up to Rs. 2.5 lakhs per annum
No Tax
No Tax
Up to Rs. 5 lakhs per annum
No Tax
No Tax
Above Rs. 5 lakhs to Rs. 7.5 lakhs
10%
20%
Above Rs. 7.5 lakhs to Rs. 10 lakhs
15%
20%
Above Rs. 10 lakhs to Rs. 12.5 lakhs
20%
30%
Above Rs. 12.5 lakhs to Rs. 15 lakhs
25%
30%
Above Rs. 15 lakhs
30%
30%
Note:Cess at 4% of tax applicable in all cases. Surcharge at 10% for income above Rs. 50 lakhs and at 15% for income above Rs. 1 crore.
"Mutual fund investments are subject to market risks. Please read the scheme information and other related documents carefully before investing. Past performance is not indicative of future returns"