{"id":5961,"date":"2020-04-02T20:05:17","date_gmt":"2020-04-02T14:35:17","guid":{"rendered":"https:\/\/corpbiz.io\/learning\/?p=5961"},"modified":"2020-11-10T14:19:30","modified_gmt":"2020-11-10T08:49:30","slug":"online-income-tax-slab-and-rate-for-financial-year-2020-21","status":"publish","type":"post","link":"https:\/\/corpbiz.io\/learning\/online-income-tax-slab-and-rate-for-financial-year-2020-21\/","title":{"rendered":"Income Tax Slab and Rate for financial year 2020-21"},"content":{"rendered":"\n<p class=\"has-drop-cap\">In India,\nincome tax is levied on the basis of an individual&#8217;s income, and the tax rates\nbased on the range of income are known as tax slabs. India has continuous\nmethods for taxation; this means higher the income higher the individual Tax\nneeds to pay.<\/p>\n\n\n\n<p>Income tax slab and rate tend to go through a change in every year&#8217;s <strong>budget<\/strong><sup><a href=\"https:\/\/www.indiabudget.gov.in\/\"><strong>[1]<\/strong><\/a><\/sup>. Under this blog, we will discuss the latest slab for the financial year 2020-21.<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title ez-toc-toggle\" style=\"cursor:pointer\">Page Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/corpbiz.io\/learning\/online-income-tax-slab-and-rate-for-financial-year-2020-21\/#What_does_Income_Tax_slab_mean\" >What\ndoes Income Tax slab mean?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/corpbiz.io\/learning\/online-income-tax-slab-and-rate-for-financial-year-2020-21\/#What_is_the_Income_Tax\" >What\nis the Income Tax?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/corpbiz.io\/learning\/online-income-tax-slab-and-rate-for-financial-year-2020-21\/#What_is_the_existing_income_tax_regime_in_India\" >What\nis the existing income tax regime in India?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/corpbiz.io\/learning\/online-income-tax-slab-and-rate-for-financial-year-2020-21\/#Income_Tax_Slabs_for_all_Individuals\" >Income Tax Slabs for all Individuals<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/corpbiz.io\/learning\/online-income-tax-slab-and-rate-for-financial-year-2020-21\/#Income_Tax_Slabs_Rates_for_Individual_Tax_Payer_HUF\" >Income Tax Slabs &amp; Rates for Individual Tax Payer &amp; HUF<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/corpbiz.io\/learning\/online-income-tax-slab-and-rate-for-financial-year-2020-21\/#Income_Tax_Slabs_for_Senior_Citizens\" >Income Tax Slabs for Senior Citizens<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/corpbiz.io\/learning\/online-income-tax-slab-and-rate-for-financial-year-2020-21\/#Income_Tax_Slabs_for_Super_Senior_Citizens\" >Income Tax Slabs for Super Senior Citizens<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/corpbiz.io\/learning\/online-income-tax-slab-and-rate-for-financial-year-2020-21\/#Income_Tax_Slab_For_Domestic_Companies\" >Income Tax Slab For Domestic Companies<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/corpbiz.io\/learning\/online-income-tax-slab-and-rate-for-financial-year-2020-21\/#Income_Tax_Slabs_for_Non_%E2%80%93_Resident_Individuals\" >Income Tax Slabs for Non \u2013 Resident Individuals<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/corpbiz.io\/learning\/online-income-tax-slab-and-rate-for-financial-year-2020-21\/#Note\" >Note;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/corpbiz.io\/learning\/online-income-tax-slab-and-rate-for-financial-year-2020-21\/#Income_Tax_Slab_for_Foreign_Company\" >Income Tax Slab for Foreign Company<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/corpbiz.io\/learning\/online-income-tax-slab-and-rate-for-financial-year-2020-21\/#Takeaway\" >Takeaway<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_does_Income_Tax_slab_mean\"><\/span>What\ndoes Income Tax slab mean?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>As an Individual&#8217;s income increases, he is supposed to\ncontribute more from the portion of his income to the government. The\ngovernment utilizes the funds collected from taxpayers for the betterment of\nthe society at large. <\/p>\n\n\n\n<p>Under this tax regime, income is categorized into different groups and criteria. Such a group is known as Tax Slab, and Tax is charged at different rates on the different range of income falling under different tax slab. Income Tax slab and rate depends on various factors such as;<\/p>\n\n\n\n<ul><li><strong>Total Income <\/strong><\/li><li><strong>Residential Status&nbsp; <\/strong><\/li><li><strong>Type of taxpayer and age<\/strong><\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_is_the_Income_Tax\"><\/span>What\nis the Income Tax?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The Tax\nimposed by the government on the income generated by businesses and individuals\nwithin their jurisdiction is called income tax. Meaning of Income stands\ndifferent for different individuals, which can be generated through business,\nexchange of sale goods or service, or through capital investment. <\/p>\n\n\n\n<p>According to income tax, there are two types of income ;<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" width=\"631\" height=\"489\" src=\"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2020\/04\/image-9.png\" alt=\"two types of income\" class=\"wp-image-5962\" srcset=\"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2020\/04\/image-9.png 631w, https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2020\/04\/image-9-300x232.png 300w\" sizes=\"(max-width: 631px) 100vw, 631px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_is_the_existing_income_tax_regime_in_India\"><\/span>What\nis the existing income tax regime in India?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>In India there are three types of individual taxpayers;<\/p>\n\n\n\n<ul><li><strong>Individuals (below the age of 60) years)&nbsp;&nbsp;<\/strong><\/li><li><strong>Resident Senior Citizens (above 60 years and below 80 <\/strong><\/li><li><strong>Resident super senior citizens (Above 80 years)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <\/strong><\/li><\/ul>\n\n\n\n<p><strong><em>Tax slab is different for each category of taxpayer, and undergo a change during every budget.<\/em><\/strong><\/p>\n\n\n\n<table class=\"table table-bordered\"><tbody><tr><td>\n  <strong>Income Tax Slab<\/strong>\n  <\/td><td>\n    <strong>Tax Rate <\/strong>\n  <\/td><\/tr><tr><td>\n  Up to Rs 2.5 lakh\n  <\/td><td>\n  NIL\n  <\/td><\/tr><tr><td>\n  From 2.5 lakh to\n  Rs 5 lakh\n  <\/td><td>\n  5% (Tax rebate of Rs 12,500\n  available under section 87A)\n  <\/td><\/tr><tr><td>\n  From 5 lakh to Rs\n  7.5 lakh\n  <\/td><td>\n  10%\n  <\/td><\/tr><tr><td>\n  From 7.5 lakh to Rs 10 lakh\n  <\/td><td>\n  15%\n  <\/td><\/tr><tr><td>\n  From&nbsp; 10\n  lakh to Rs 12.5 lakh\n  <\/td><td>\n  20%\n  <\/td><\/tr><tr><td>\n  From 12.5 lakh to\n  Rs 15 lakh\n  <\/td><td>\n  25%\n  <\/td><\/tr><tr><td>\n  &gt;Rs 15 lakh and\n  above\n  <\/td><td>\n  30%\n  <\/td><\/tr><\/tbody><\/table>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Income_Tax_Slabs_for_all_Individuals\"><\/span>Income Tax Slabs for all Individuals<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><strong><em>Following\nis the list <\/em><\/strong><strong><em>deductions\nand exemptions that taxpayer will have to give up in new tax regime;<\/em><\/strong><\/p>\n\n\n\n<ul><li>Leave Travel\nAllowance&nbsp;<\/li><li>House Rent\nAllowance&nbsp;<\/li><li>Conveyance<\/li><li>Daily\nexpenses in the course of employment<\/li><li>Relocation\nallowance<\/li><li>Helper\nallowance<\/li><li>Children\neducation allowance<\/li><li>Other\nspecial allowances [Section 10(14)]<\/li><li>Standard\ndeduction<\/li><li>Professional\nTax<\/li><li>Interest on\nhousing loan (Section 24)<\/li><li>Chapter VI-A\ndeduction (80C,80D, 80E and so on) (Except Section 80CCD(2) and 80JJA)<\/li><\/ul>\n\n\n\n<p><strong><em>Note; No change in old and new tax regime in; <\/em><\/strong><\/p>\n\n\n\n<ul><li>Health and education cess@4%<\/li><li>Rate of surcharge<strong>&nbsp; <\/strong>(is an additional tax imposed on a person\nor entity if turnover exceeds the prescribed limits)<\/li><li>Rebate u\/s 87A(no tax will be applicable on total income up to 5\nlakh )<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Income_Tax_Slabs_Rates_for_Individual_Tax_Payer_HUF\"><\/span>Income Tax Slabs &amp; Rates for Individual Tax Payer &amp; HUF<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<table class=\"table table-bordered\"><tbody><tr><td>\n  Income Tax Slab\n  <\/td><td>\n  Tax Rate for Individual &amp;\n  HUF Below the Age Of 60 Years\n  <\/td><\/tr><tr><td>\n  Up to \u20b92,50,000*\n  <\/td><td>\n  <strong>Nil<\/strong>\n  <\/td><\/tr><tr><td>\n  <strong>\u20b92,50,001 to\n  \u20b95,00,000<\/strong>\n  <\/td><td>\n  5% of total income exceeding\n  \u20b92,50,000\n  <\/td><\/tr><tr><td>\n  <strong>\u20b95,00,001 to\n  \u20b910,00,000<\/strong>\n  <\/td><td>\n  \u20b912,500 + 20% of total income\n  exceeding \u20b95,00,000\n  <\/td><\/tr><tr><td>\n  <strong>Above \u20b910,00,000<\/strong>\n  <\/td><td>\n  \u20b91,12,500 + 30% of total\n  income exceeding \u20b910,00,000\n  <\/td><\/tr><\/tbody><\/table>\n\n\n\n<ul><li>No income tax is applicable upon the individual whose income is less than 2, 50,000;<\/li><li>0% to 5% tax upon different age group with the income of 2.5 lac to 5 lac;<\/li><li>20% tax &nbsp;is applicable with the income of&nbsp; 5 lac to 10 lac;<\/li><li>30%&nbsp; tax is applicable with the income above 10 lac;<\/li><li>A tax rebate u\/s 87A is applicable if taxpayer income is ;<\/li><\/ul>\n\n\n\n<ol><li>Up to 3.5 lac for FY 2018-19, rebate amount will be 2,500 on total income;<\/li><li>Up to 5 lac for FY 2019-20, rebate amount will be 12,500<\/li><\/ol>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Income_Tax_Slabs_for_Senior_Citizens\"><\/span>Income Tax Slabs for Senior Citizens  <span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<table class=\"table table-bordered\"><tbody><tr><td>\n  <strong>Income\n  Tax Slabs<\/strong><strong><\/strong>\n  <\/td><td>\n  <strong>Tax Rate\n  for Senior citizens of 60 Years and less than 80 Years<\/strong><strong><\/strong>\n  <\/td><\/tr><tr><td>\n  <strong>Income up\n  to Rs 3,00,000*<\/strong>\n  <\/td><td>\n  Nil \n  <\/td><\/tr><tr><td>\n  <strong>Income of Rs\n  3,00,000 \u2013 Rs 5,00,000<\/strong>\n  <\/td><td>\n  5%\n  <\/td><\/tr><tr><td>\n  <strong>Income\n  from Rs 5,00,000 to &nbsp;10,00,000<\/strong>\n  <\/td><td>\n  20%\n  <\/td><\/tr><tr><td>\n  <strong>Income\n  more than Rs 10,00,000<\/strong>\n  <\/td><td>\n  30%\n  <\/td><\/tr><\/tbody><\/table>\n\n\n\n<div class=\"shadow1\"><strong>Note:<\/strong> Additional 4% health and education cess will be applicable to the tax amount calculated as above.<\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Income_Tax_Slabs_for_Super_Senior_Citizens\"><\/span>Income Tax Slabs for Super Senior Citizens<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<table class=\"table table-bordered\"><tbody><tr><td>\n  <strong>Income\n  Tax Slabs<\/strong><strong><\/strong>\n  <\/td><td>\n  <strong>Tax Rate\n  for Super Senior Citizens (Aged 80 Years And Above)<\/strong><strong><\/strong>\n  <\/td><\/tr><tr><td>\n  <strong>Income up\n  to Rs 5,00,000*<\/strong>\n  <\/td><td>\n  No tax\n  <\/td><\/tr><tr><td>\n  <strong>Income\n  from Rs 5,00,000 \u2013 10,00,000<\/strong>\n  <\/td><td>\n  20%\n  <\/td><\/tr><tr><td>\n  Income more than Rs 10,00,000\n  <\/td><td>\n  30%\n  <\/td><\/tr><\/tbody><\/table>\n\n\n\n<div class=\"shadow1\"><strong>Note:<\/strong> Additional 4% health and education cess will be applicable to the tax amount calculated as above.<\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Income_Tax_Slab_For_Domestic_Companies\"><\/span>Income Tax Slab For Domestic Companies<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<table class=\"table table-bordered\"><tbody><tr><td>\n  <strong>Turnover Tax Rate <\/strong><strong><\/strong>\n<td>\n<p><strong>Tax Rate <\/strong><\/p>\n<\/td>\n  <\/td><td><\/td><\/tr><tr><td>\n  Gross turnover up to 400 Cr.\n  in the FY 2017-18\n  <\/td><td>\n  25%\n  <\/td><\/tr><tr><td>\n  Gross turnover exceeding 400\n  Cr. in the FY 2017-18\n  <\/td><td>\n  30%\n  <\/td><\/tr><tr><td>\n  Where the company opted for\n  Section 115BA\n  <\/td><td>\n  25%\n  <\/td><\/tr><tr><td>\n  Where the company opted for Section 115BAA\n  <\/td><td>\n  22%\n  <\/td><\/tr><tr><td>\n  Where the company opted for Section 115BAB\n  <\/td><td>\n  15%\n  <\/td><\/tr><\/tbody><\/table>\n\n\n\n<p><strong>Along with this cess and surcharge is levied follows;<\/strong><\/p>\n\n\n\n<p><em>CESS; 4% of corporate Tax<\/em><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Income_Tax_Slabs_for_Non_%E2%80%93_Resident_Individuals\"><\/span>Income Tax Slabs for Non \u2013 Resident Individuals<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<table class=\"table table-bordered\">\n<tbody>\n<tr>\n<td width=\"356\">\n<p><strong>Income Tax Slabs<\/strong><\/p>\n<\/td>\n<td width=\"400\">\n<p><strong>Tax Rate for Super Senior Citizens (Aged 80 Years And Above)<\/strong><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"356\">\n<p>Income up to Rs 2,50,000*<\/p>\n<\/td>\n<td width=\"400\">\n<p>No tax<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"356\">\n<p>Income from Rs 5,00,001\u2013 7,50,000<\/p>\n<\/td>\n<td width=\"400\">\n<p>10%<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"356\">\n<p>Income from Rs 7,50,001\u2013 10,00,000<\/p>\n<p>Income from10,00,000  12,50,000<\/p>\n<p>Income from 12,50,00- <\/p>\n<p>15,00,000- <\/p>\n<p>Income above 15,00,000 <\/p>\n<\/td>\n<td width=\"400\">\n<p>15%<\/p>\n<p>20%<\/p>\n<p>25%<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Note\"><\/span> Note; <span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul><li>No change in old and new tax regime in <\/li><\/ul>\n\n\n\n<ol><li>Rate of Surcharge <\/li><li>Health and Education Cess @ 4%<\/li><\/ol>\n\n\n\n<ul><li>Certain income tax exemption and deductions will not be available under new tax regime.<\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Income Tax Slab for Co-operative Society <\/strong><\/h3>\n\n\n\n<ul><li>Income tax on companies with gross receipt more than 400 crores, Tax Imposed will be @ 30% + 4% +Surcharge at applicable rate.<\/li><\/ul>\n\n\n\n<ul><li>Income Tax on companies with gross receipt up to 400 Crore, Tax imposed will be @25% +4% =Surcharge at applicable rate.<\/li><\/ul>\n\n\n\n<div class=\"shadow1\"> The domestic companies can alternatively choose to pay Tax under the following reduced rates;<\/div>\n\n\n\n<ul><li>Section 115BAA (domestic companies) &#8211; tax would be levied  @22% + 4% Cess + 10% Surcharge;<\/li><li>Section 115BAB (manufacturing companies)- tax would be levied      @15% + 4% Cess + 10% Surcharge;<\/li><li>A Manufacturing generating company can now opt for Section      115BAB as proposed by the Budget 2020;<\/li><li>Certain exemptions and deductions + provisions of MAT  (Alternate Minimum Tax) will not be applicable in case of these reduced  rates.<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Income_Tax_Slab_for_Foreign_Company\"><\/span><strong>Income Tax Slab for Foreign Company <\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul><li>In case where royalty has been received from the government or technical fee is as per the central govt., the Tax rate imposed will be @50%+ 4% cess +Surcharge at applicable rate.<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Takeaway\"><\/span>Takeaway<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Income tax  slab and rate tends to get change in every new FY. According to estimate, about 71% of total government revenue is collected through the Tax paid by the individuals or entities. In India, <a href=\"https:\/\/corpbiz.io\/income-tax-return-filing\"><strong>income tax<\/strong><\/a> is calculated on the basis of determined by the government for an assessment year.<\/p>\n\n\n\n<p class=\"text-left\"><b>Read our article<\/b>:<mark style=\"background: #fffd03 !important;\"><a href=\"https:\/\/corpbiz.io\/learning\/online-income-tax-return-filing-without-form-16\/\">Income Tax Return Filing without Form 16<\/a><\/mark><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In India, income tax is levied on the basis of an individual&#8217;s income, and the tax rates based on the range of income are known as tax slabs. India has continuous methods for taxation; this means higher the income higher the individual Tax needs to pay. Income tax slab and rate tend to go through [&hellip;]<\/p>\n","protected":false},"author":9,"featured_media":5972,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[10,152],"tags":[],"acf":{"service_id":"46"},"authorName":"Shailza Sharma","authorImageUrl":"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2019\/10\/IMG-20190927-WA0001-150x150-22.jpg","authorDescription":"Miss Shailza Sharma, BA. LLB graduate from Himachal Pradesh University. She holds an experience of 2.5 years in various Legal companies and organizations.","postViews":9167,"readingTime":4,"_links":{"self":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/5961"}],"collection":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/comments?post=5961"}],"version-history":[{"count":25,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/5961\/revisions"}],"predecessor-version":[{"id":19270,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/5961\/revisions\/19270"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/media\/5972"}],"wp:attachment":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/media?parent=5961"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/categories?post=5961"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/tags?post=5961"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}