Assessment Year 2020-21 Income tax Slab For Female Taxpayers
A tax rebate under section 87A is allowed to individual taxpayers for a maximum amount of Rs. 12,500 if his total income is up to Rs. 5,00,000 for AY 2020-21
Female Assessee
A tax rebate under section 87A is allowed to individual taxpayers for a maximum amount of Rs. 12,500 if his total income is up to Rs. 5,00,000 for AY 2020-21
As per the budget 2021, there is no change in the income tax slab for the assessment year 2022-23.
The budget 2020, saw the finance minister Nirmala Sitharaman announce a new tax regime with more tax slabs and lower tax rates. This was long demanded by most taxpayers, but it came up with the catch of removal of all the deductions and exemptions available.
Before 2012-13, the basic tax exemption limit was segregated for male and female taxpayers. Women enjoyed a higher basic exemption limit when it came to tax payments on their income earned.