Income Tax Slabs for Individual Tax Payers & HUF








Income Tax Slabs Existing Regime Slab Rates for FY 2019-20 and FY 2020-21 New Regime Slab rates for FY 2020-21
Tax rate Tax Rate
Less than 60 years 60-80 Years Above 80 Years Applicable for all Individuals and HUFs
Up to Rs. 2,50,000 NIL NIL NIL NIL
Rs. 2,50,000 to Rs. 3,00,000 5% NIL NIL 5%
Rs. 3,00,000 to Rs. 5,00,000 5% 5% NIL 5%
Rs. 5,00,000 to Rs. 7,50,000 20% 20% 20% 10%
Rs. 7,50,000 to Rs. 10,00,000 20% 20% 20% 15%
Rs. 10,00,000 to Rs. 12,50,000 30% 30% 30% 20%
Rs. 12,50,000 to Rs. 15,00,000 30% 30% 30% 25%
Rs. 15,00,000 and Above 30% 30% 30% 30%







*An additional 4% Health & education cess will be applicable on the tax amount calculated as above.







Surcharge For Old Regime





*10% of income tax, where total income exceeds Rs.50 lakh up to Rs.1 crore.





* 15% of income tax, where the total income exceeds Rs.1 crore.












Surcharge ForNew Regime




*10% of income tax, if total income > Rs.50 lakh




* 15% of income tax, if the total income > Rs.1 Crore




* 25% of income tax, if the total income > Rs.2 Crore




* 37% of income tax, if the total income > Rs.5 Crore











*In this new regime taxpayer has an option to continue existing tax rate and to avail deductions or to select new regime and pay lower taxes and forgo the deductions.

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