Assessment Year 2021-22: Current Income Tax Slab For Senior Citizens
Income Tax Department offers certain tax benefits to senior citizens. A senior citizen is an individual resident between the age group of 60 to 80 years, as on the last day of …
Assessment Year 2021-22
Income Tax Department offers certain tax benefits to senior citizens. A senior citizen is an individual resident between the age group of 60 to 80 years, as on the last day of …
As per the budget 2020, under the new regime, the taxpayer (Individual and HUF assessee) has an option to choose either a new regime or stay in the old regime.
Nirmala Sitharaman, the Finance Minister of India presented the Union Budget, 2020 on 1st February, 2020 and introduced new income tax slab. The new tax regime was introduced for regular individuals, senior citizens and HUF, wherein they can pay taxes at lower income tax slab rates.
In India, tax laws divide taxpayers into different groups as per their taxable income and levy income tax at different rates. These groups are called Income Tax Slab