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Latest Income Tax Slab 2020-21
Tax Slab* for Financial Year 2014-15 (Assessment Year 15-16)
| For Men below 60 years of age | For Senior Citizens (Age 60 years or more but less than 80 years) | For Senior Citizens (Age 80 years or more) | |||
|---|---|---|---|---|---|
| Income Level | Tax Rate | Income Level | Tax Rate | Income Level | Tax Rate |
| Rs. 2,50,000 | Nil | Upto Rs. 3,00,000 | Nil | Upto Rs. 5,00,000 | Nil |
| Rs. 2,50,001 - Rs. 500,000 | 10% | Rs. 3,00,001 - Rs. 500,000 | 10% | Rs. 5,00,001 - Rs. 10,00,000 | 20% |
| Rs. 500,001 - Rs. 10,00,000 | 20% | Rs. 500,001 - Rs. 10,00,000 | 20% | Above Rs. 10,00,000 | 30% |
| Above Rs. 10,00,000 | 30% | Above Rs. 10,00,000 | 30% | ||
Surcharge @ 10% of tax will be payable by individuals having total income exceeding Rs. 100,00,000.
Income Tax Deductions and Exemptions
| Income Tax Section | Gross Annual Salary | How Much Tax Can You Save? | HDFC Standard Life Plans |
|---|---|---|---|
| Sec. 80C | Across all income slabs | Upto Rs. 46,350/- saved on investment of Rs. 1,50,000/- | All our Life Insurance Plans Buy Life Insurance and Save Tax |
| Sec. 80CCC | Across all income slabs | Upto Rs.30,900/- saved on Investment of Rs.1,00,000/- | All our Pension Plans
To learn more about the income tax slabs AY 18-19, click here. |
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