Income Tax Rates/Slab for A Y 2020-21 ( F .Y2019-20 )
Income Tax Rates/Slab for A Y 2020-21 ( F .Y. 2019-20 )
According to Income Tax Act,1961 Total taxable income is tax as per prescribed rate of income in Financial Budget presented in parliament every year. Income Tax Rates are different for every assessee like
Individual,
Hindu Undivided Family,
Company,
Foreign company,
Trust,
Co operative society,
Partnership Firm,
Artificial person.
Income Tax rates as per Financial Budget 2019 for assessment year 2020-21 are as following