Income tax slab for the yr. 2021-2022 for individuals and HUF (Hindu Undivided Family)

Income tax slab for the yr 2021-2022 for individuals and HUF (Hindu Undivided Family) 

Income tax slab for the yr 2021-2022 for individuals and HUF (Hindu Undivided Family) 

In India, the income tax slab for the financial year 2021-2022 (assessment year 2022-2023) for individuals and HUF (Hindu Undivided Family) are as follows:

For individuals below 60 years of age:

Up to Rs. 2.5 lakh: Nil

Rs. 2.5 lakh to Rs. 5 lakh: 5%

Rs. 5 lakh to Rs. 7.5 lakh: 10%

Rs. 7.5 lakh to Rs. 10 lakh: 15%

Rs. 10 lakh to Rs. 12.5 lakh: 20%

Rs. 12.5 lakh to Rs. 15 lakh: 25%

Above Rs. 15 lakh: 30%

For individuals between 60 and 80 years of age:

Up to Rs. 3 lakh: Nil

Rs. 3 lakh to Rs. 5 lakh: 5%

Rs. 5 lakh to Rs. 10 lakh: 20%

Above Rs. 10 lakh: 30%

For individuals above 80 years of age:

Up to Rs. 5 lakh: Nil

Rs. 5 lakh to Rs. 10 lakh: 20%

Above Rs. 10 lakh: 30%

Note: A surcharge of 10% will be applicable if the total income exceeds Rs. 50 lakh and up to Rs. 1 crore, and a surcharge of 15% will be applicable if the total income exceeds Rs. 1 crore. Additionally, a Health and Education cess of 4% will be applicable on the total tax amount (including surcharge, if applicable).

Income Tax Slab 2021-2022.

Income tax slab for yr 2021-2022

The income tax slab for the assessment year 2022-2023 (financial year 2021-2022) for individuals is as follows:

For individuals below 60 years of age:

No tax for income up to Rs 2.5 lakhs

5% tax for income between Rs 2.5 lakhs to Rs 5 lakhs

10% tax for income between Rs 5 lakhs to Rs 7.5 lakhs

15% tax for income between Rs 7.5 lakhs to Rs 10 lakhs

20% tax for income between Rs 10 lakhs to Rs 12.5 lakhs

25% tax for income between Rs 12.5 lakhs to Rs 15 lakhs

30% tax for income above Rs 15 lakhs

For individuals between 60 and 80 years of age:

No tax for income up to Rs 3 lakhs

5% tax for income between Rs 3 lakhs to Rs 5 lakhs

10% tax for income between Rs 5 lakhs to Rs 10 lakhs

15% tax for income above Rs 10 lakhs

For individuals above 80 years of age:

No tax for income up to Rs 5 lakhs

20% tax for income between Rs 5 lakhs to Rs 10 lakhs

30% tax for income above Rs 10 lakhs

Note: The above income tax slabs do not include additional surcharges and cess that may be applicable based on income levels.