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Income Tax Computation Format
Income taxation is figured on such basis as this taxation slab. Your gross income is worked out later making relevant deductions, other taxes you might have already paid (Advance Tax) and tax deducted at source (TDS), the consequent taxable income will be taxed at the slab speed that’s applicable.
New tax slabs have been introduced Union Budget 20 20 these are pertinent only if you do not assert any tax deductions. The following will be the tax slabs: income tax slab rates specify the brink yearly income limits at that a higher or lower rate of taxation is related. In the following sections we will explore the income tax rates for FY 2018-2019 (AY 2019-2020) plus other important facets of income tax in India.
Download the Income Tax Computation Format for AY 202021 from PDF format online from the web link provided below.
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