Individual Income Tax Slab: Exemptions for Salaried Employees

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Income Tax Slabs	Rate of Tax
For individuals with income of up to ₹2.5 Lakh	Nil
For Individuals with income ranging between ₹2,50,001 and ₹5 Lakh	5% of the total income above ₹2,50,000
For Individuals with income ranging between ₹5,00,001 and ₹10 Lakh	₹12,500+ 20% of the total income above ₹5 Lakh
For Individuals with income above ₹10 Lakh	₹1,12,500+ 30% of their total income above ₹10 Lakh

Income limit	Surcharge rate on Income Tax
When the net income is higher than ₹50 Lakh but less than ₹1 Crore	10%
When net income is higher than ₹1 Crore and less than ₹2 Crore	15%
When net income is higher than ₹2 Crore but less than ₹5 Crore	25%
When net income is higher than ₹5 Crore	37%

Income Tax Slab for Salaried Employees

All about Individual Income Tax Slab

Income Tax Slab for Salaried person (below 60 years of age) and HUF – FY 2019-20

Income Tax Rebate for Salaried Person

Income Tax Exemptions for Salaried Employees

FAQs about Individual Income Tax Slab

✓ What is the income tax exemption on health insurance policies?

✓ What is the time period designated for calculation of income tax?

✓ Can Hindu Undivided Families avail tax exemptions?

More article about Income Tax in India

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