Income Tax Slabs and Tax Rate for Financial Year 2019-2020
Income Tax Slabs and Tax Rate for Financial Year 2019-2020 (Assessment Year 2020-2021)
Deduction as per Income Tax Rules
As per the Income Tax rules, no tax for the annual earning less than Rs. 2,50,000. All Central Government employees need to file Income Tax Return (ITR) on their income (as on date, the minimum salary of CG employees will be Rs. 23,553) for the Assessment Year 2020-2021.
Income Tax recoveries are to be regulated in respect of every Central Govt employee in the ensuing months by deduction through their pay bills for the month of November 2019 to February 2020.
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