Rates of income-tax in India for ‘Individual’ [2019-2020]

This rate shall apply in relation to income-tax for the assessment year or, as the case may be, the financial year commencing on the 1st day of April, 2019

(II) In the case of every individual, being a resident in IndiaIndia Hind/ hend >hindia. Bharat Varsha (Jambudvipa used in Mahavamsha) is the name of this land mass. The people of this land are Sanatan Dharmin and they always defeated invaders. Indra (10000 yrs) was the oldest deified King of this land. Manu's jurisprudence enlitened this land. Vedas have been the civilizational literature of this land. Guiding principles of this land are : सत्यं वद । धर्मं चर । स्वाध्यायान्मा प्रमदः । The place also been called Hindusthan in Pesia. The word Hendu is mentioned in Avesta. Read more, who is of the age of sixty years or more but less than eighty years at any timeTime χρόνος. Judicial: Where any expression of it occurs in any Rules, or any judgment, order or direction, and whenever the doing or not doing of anything at a certain time of the day or night or during a certain part of the day or night has an effect in law, that time is, unless it is otherwise specifically stated, held to be standard time as used in a particular country or state. (In Physics, time and Space never exist actually-“quantum entanglement”) यमः , पुं, (यमयति नियमयति जीवानां फलाफलमिति । यम् + अच् । विश्वे च कलयत्येव यः सर्व्वायुश्च सन्ततम् । अतीव दुर्निवार्य्यञ्च तं कालं प्रणमाम्यहम् ॥यमैश्च नियमैश्चैव यः करोत्यात्मसंयमम् । स चादृष्ट्वा तु मां याति परं ब्रह्म सनातनम् ॥ during the previous year, –

Rates of income-tax

(III) In the case of every individual, being a resident in India, who is of the age of eighty years or more at any time during the previous year, –

Rates of income-tax

Surcharge on income-tax

The amount of income-tax computed in accordance with the preceding provisions of this Paragraph, or the provisions of section 111A or section 112 or section 112A of the Income-tax Act, shall be increased by a surcharge for the purposes of the Union, calculated, in the case of every individual or HinduHindu הִנְדּוּאָה (hinĕḋẇʼáh), ινδουϊσμός: Hend  (Hendu). The establishment of a satellite state of the Ghaznavid Empire (capital: Lahore) in the Punjab (first half of the 11th century) was known as Hindustan—a geographical name given by the Persians, who came to visit Bharatvarsha (​हिन्दुस्तान). Asadi’s Garsasp-nama, expeditions to Hend and Sarandib (Sri Lanka) have been featured. Sanatan Dharma is the actual Dharmic tradition of the Hindus. People who live in Hindusthan are Hindu (The word is an original word), whether they follow Islam, Christianity, Buddhism, Mahavira, or Nanaka. In this way, Tribals are also Hindu. Indian sword (šamšir-e hendi in zaḵm-e hendi). Anbar-e hendi (India perfumes) by Farroki. Ebn Battuta (Toḥfat al-noẓẓār fi ḡarāʾeb al-amṣārwa ʿajāʾeb al-asfār: ca. 1330) first mentioned 'Hindu Kush.' undivided family or association of persons or body of individuals, whether incorporated or not, or every artificial juridical person referred to in sub-clause (vii) of clause (31) of section 2 of the Income-tax Act, –
(a) having a total income exceeding fifty lakh rupees but not exceeding one croreCrore एक करोड़: It denotes ten million (₹ 10,000,000) and is equal to 100 lakh in the Indian numbering system. 100 crores = 1 billion (1000 million) rupees, at the rate of ten per cent. of such income-tax; and

(b) having a total income exceeding one crore rupees, at the rate of fifteen per cent. of such income-tax:

Provided that in the case of persons mentioned above having total income exceeding, –

(a) fifty lakh rupees but not exceeding one crore rupees, the total amount payable as income-tax and surcharge on such income shall not exceed the total amount payable as income-tax on a total income of fifty lakh rupees by more than the amount of income that exceeds fifty lakh rupees;

(b) one crore rupees, the total amount payable as income-tax and surcharge on such income shall not exceed the total amount payable as income-tax and surcharge on a total income of one crore rupees by more than the amount of income that exceeds one crore rupees.

SOURCE: Finance Act, 2019