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In this article we update you about the income tax slab rates applicable to different types of taxpayers such as individual huf partnership firms aop boi co operative society local authorities domestic as well as foreign companies etc for assessment year 2020 21 i e.
Income tax rates 2019 20. Income tax rates applicable in case of domestic companies for assessment year 2020 21 and 2021 22 are as follows. Income tax slab indicates the annual income limits of an individual and the rates at which such income will be chargeable. Assessment year 2021 22 where its total turnover or gross receipt during the previous year 2017 18 does not exceed rs. 62 550 plus 45c for each 1 over 180 000.
The tax rates increase with the increase in income of an assessee. File your income tax returns. Foreign resident tax rates 2019 20. 32 5c for each 1.
Tax on this income.
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