Income Tax Slab A Y 2022-23. There were no changes proposed in this budget 2022 with respect to income tax slab rates. Income tax rates applicable to individuals and huf under new optional tax regime (section 115bac)
Tax Slab Rate for F.Y 202122 with Key Highlights from mtaxsoftware.blogspot.com
37% of income tax where total income exceeds rs. 20% ₹ 12,50,001 to 15,00,000: & companies for both regimes in user friendly format
The Finance Minister Announced No Change In Personal Income Tax Slabs And Rates.
In this article we have discussed income tax deduction available to taxpayers from various sources of income for a.y. 25% of income tax, in case taxable income is above ₹ 2 crore. Nil ₹ 2,50,001 to 5,00,000:
Deductions Include Deduction Against Salaries, Against ‘ Income From House Properties ‘, Against ‘ Profits And Gains Of Business Or Profession ‘ Against ‘ Capital Gains ‘ And Against ‘Income From Other Sources’.
10% ₹ 7,50,001 to 10,00,000: There will be two types of tax slabs. 5% of the amount exceeding 250,000.
& Companies For Both Regimes In User Friendly Format
10% of income tax, in case taxable income is above ₹ 50 lacs. Rs.75,000 + 20% of the amount exceeding 1,000,000. For those who wish to claim it deductions and exemptions.
Only Change Which Is Made In Budget Is Senior Citizen Above 75 Years Of Age Is Exempted For Filing Income Tax Return If They Have Income Only From Pension And Interest.
There were no changes proposed in this budget 2022 with respect to income tax slab rates. No major changes were made in income tax rules. 15% of income tax where total income exceeds rs.
4% Of (Income Tax + Surcharge).
5% ₹ 5,00,001 to 7,50,000: Thus, with no change in the income tax rates and slabs, an individual taxpayer will continue to pay the same rate of tax depending on the tax regime chosen for fy. 25% of income tax where total income exceeds rs.
