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Income from salary & pension received
This is when you are self-employed, work as a freelancer or contractor, or you run a business. Agents, chartered accountants, doctors and lawyers who have their own practice, tuition teachers.
Mostly rent received by the property
Income from sale of a capital asset such as mutual funds, shares, house property
Income from savings bank account interest, fixed deposits, lottery, commission, interest by party.
Net Income Range | Income-tax Rate* | ||
---|---|---|---|
2019-20 | 2018-19 | ||
1 | Upto Rs. 2,50,000 | - | - |
2 | Rs. 2,50,000 to Rs. 5,00,000 | 5% | 5% |
3 | Above Rs. 10,00,000 | 20% | 20% |
4 | Rs. 5,00,000 to Rs. 10,00,000 | 30% | 30% |
Net Income Range | Income-tax Rate* | ||
---|---|---|---|
2019-20 | 2018-19 | ||
1 | Upto Rs. 3,00,000 | - | - |
2 | Rs. 3,00,000 to Rs. 5,00,000 | 5% | 5% |
3 | Rs. 5,00,000 to Rs. 10,00,000 | 20% | 20% |
4 | Above Rs. 10,00,000 | 30% | 30% |
Net Income Range | Income-tax Rate* | ||
---|---|---|---|
2019-20 | 2018-19 | ||
1 | Upto Rs. 5,00,000 | - | - |
3 | Rs. 5,00,000 to Rs. 10,00,000 | 20% | 20% |
4 | Above Rs. 10,00,000 | 30% | 30% |
INCOME TAX TABLE | |||||||
---|---|---|---|---|---|---|---|
Resident Individual | Resident Senior Citizen | Resident Super Senior Citizen | |||||
Taxable Income | Tax Payable | Tax Payable | Tax Payable | ||||
2019-20 | 2018-19 | 2019-20 | 2018-19 | 2019-20 | 2018-19 | ||
1 | 250,000 | - | - | - | - | - | - |
2 | 300,000 | - | - | - | - | - | - |
3 | 350,000 | - | 2,500 | - | - | - | - |
4 | 400,000 | - | 7,500 | - | 5,000 | - | - |
5 | 450,000 | - | 10,000 | - | 7,500 | - | - |
6 | 500,000 | - | 12,500 | - | 10,000 | - | - |
7 | 1,000,000 | 112,500 | 112,500 | 110,000 | 110,000 | 100,000 | 100,000 |
8 | 1,500,000 | 262,500 | 262,500 | 260,000 | 260,000 | 250,000 | 250,000 |
9 | 2,000,000 | 412,500 | 412,500 | 410,000 | 410,000 | 400,000 | 400,000 |
10 | 3,000,000 | 712,500 | 712,500 | 710,000 | 710,000 | 700,000 | 700,000 |
11 | 5,000,000 | 1,312,500 | 1,312,500 | 1,310,000 | 1,310,000 | 1,300,000 | 1,300,000 |
12 | 10,000,000 | 3,093,750 | 3,093,750 | 3,091,000 | 3,091,000 | 3,080,000 | 3,080,000 |
13 | 20,000,000 | 6,684,375 | 6,684,375 | 6,681,500 | 6,681,500 | 6,670,000 | 6,670,000 |
14 | 50,000,000 | 18,515,625 | 17,034,375 | 18,512,500 | 17,031,500 | 18,500,000 | 17,020,000 |
15 | 70,000,000 | 28,513,125 | 23,934,375 | 28,509,700 | 23,931,500 | 28,496,000 | 23,920,000 |
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