ITR Filing For Business, Proprietorship, Salaried & Self Employed Individuals

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Income Tax Slab	Income Tax Slab Rates for FY 2020-21 (Applicable for all Individuals & HUF)
Up to ₹2.5 lakhs	NIL
₹2.5 lakhs - ₹3 lakhs	5% (tax rebate u/s 87a is available)
₹3 lakhs – ₹5 lakhs	5% (tax rebate u/s 87a is available)
₹5 lakhs - ₹7.5 lakhs	10%
₹7.5 lakhs – ₹10 lakhs	15%
₹10 lakhs - ₹12.5 lakhs	20%
₹12.5 lakhs - ₹15 lakhs	25%
More than ₹15 lakhs	30%

Tax Bracket	Percentage of Tax
Any income up to ₹2.5 lakhs	NIL
For income between ₹2.5 lakhs and ₹5 lakhs	5% of the amount exceeding ₹2.5 lakhs
For income between ₹5 lakhs and ₹10 lakhs	20% of the amount exceeding ₹5 lakhs
For income above ₹10 lakhs	30% of the amount exceeding ₹10 lakhs

Categories	Tax Rate	Surcharge
Section 115BA (Companies having turnover up to ₹400 crores in FY 2017-18)	25%	7% (in the case that the company has a total income above ₹1 crore and up to ₹10 crores) 12% (in case the total income is above ₹10 crores)
Section 115BAA	22%	10%
Section 115BAB	15%	10%
Any other case	30%	7% (for a case where the total income of the company is above ₹1 crore and less than ₹10 crores) 12% (for a case where the company's total income is above ₹10 crores)

Type of Incomes	Tax Rate
Royalty or fees received from the Indian Government or any Indian person under an agreement made before 1st April 1976 which the Central Government has approved	50%
Any other income	40%

Income Tax Slab	Slab Rates for FY 19-20 and FY 20-21 (Resident Individuals between 60 and 80 Years)	Slab Rates for FY 19-20 and FY 20-21 (Resident Individuals over 80 Years)	Slab Rates for FY 20-21 (Applicable for all Individuals )
Up to ₹2.5 lakhs	NIL	NIL	NIL
₹2.5 lakhs - ₹3 lakhs	NIL	NIL	5%
₹3 lakhs - ₹5 lakhs	5%	NIL	5%
₹5 lakhs - ₹7.5 lakhs	20%	20%	10%
₹7.5 lakhs - ₹10 lakhs	20%	20%	15%
₹10 lakhs-₹12.5 lakhs	30%	30%	20%
₹12.5 lakhs -₹15 lakhs	30%	30%	25%
More ₹15 lakhs	30%	30%	30%

ITR Filing for Business, Proprietorship, Salaried & Self Employed Individuals

What is ITR filing?

How to complete ITR filing for salaried individuals

How to file ITR for salaried individuals?

Online mode of filing ITR-1

Offline mode of filing ITR-1

What documents are required for filing ITR-1?

What is the eligibility for filing ITR-1?

Can the ITR-1 for salaried employees be filed for the previous year?

The tax brackets for salaried employees

FAQs about ITR Filing for Salaried Individuals

How to complete ITR filing for companies

How to file ITR for business and profession

Online ITR for business income

Offline ITR for proprietorship

What are the documents required for filing ITR for business?

What is the eligibility for filing for self-employment or business?

Can ITR be filed for the previous year?

What are the tax brackets for companies and self-employed persons?

FAQs about ITR Filing for Companies

✓ How to calculate self-employment tax?

✓ At what income do I have to pay tax if I am self-employed?

✓ Which form do I file for a tax return for a small business?

How to complete ITR filing for senior citizens

How should senior citizens file income tax?

The online method of filing income tax for senior citizen

Offline method of filing income tax for senior citizen

What are the documents required for filing ITR by senior citizens?

What is the eligibility for filing for senior citizens?

Can ITR for senior citizens be filed for the previous year?

What are the tax brackets for senior citizens?

FAQs about ITR Filing for Senior Citizen

✓ What is the maximum tax-free income for a senior citizen?

✓ Do senior citizens pay capital gains tax?

✓ Which form should a retired government employee fill?

More article about Income Tax in India

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