Budget 2020: Income Tax Slab for the FY 2020-21

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Finance Minister Nirmala Sitharaman announced budget 2020 on 1st Feb 2020. In this budget, the key features regarding income tax described below:

Income Tax Slab for the FY 2020-21 AY 2021-22

Net Income RangeIncome Tax Rate
Upto Rs. 2,50,000Nil
Rs. 2,50,001 to 5,00,0005%
Rs. 5,00,001 to 7,50,00010%
Rs. 7,50,001 to 10,00,00015%
Rs. 10,00,001 to 12,50,00020%
Rs. 12,50,001 to 15,00,00025%
Above Rs. 15,00,00030%

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