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FY 2020-21 Income Tax Slabs for resident b/w 60-80 years of age

Income tax slab

Tax rate

Upto Rs. 3,00,000

Nil

Rs. 3,50,001 to Rs. 5,00,000

5% of (total income minus 2,50,000)

Rs. 5,00,001 to Rs. 7,50,000

Rs 10,000 + 10% of (total income minus 5,00,000)

Rs. 7,50,001 to Rs. 10,00,000

Rs. 35,000 + 15% of (total income minus 7,50,000)

Rs. 10,00,001 to Rs. 12,50,000

Rs. 72,500 + 20% of (total income minus 10,00,000)

Rs. 12,50,001 to Rs. 15,00,000

Rs. 1,22,500 + 25% of (total income minus 12,50,000)

Above Rs. 15,00,000

Rs. 1,85,000 + 30% of (total income minus 15,00,000)



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