what are the new slab rates for ROR citizens?
Answer (1)
8th Jul, 2020
Resident ordinarily resident conditions :
1.Has been a resident of India in at least 2 out of 10 years immediately previous years and
2.Has stayed in India for at least 730 days in 7 immediately preceding years .
The following is the slab rates decided for the year 20-21
| Up to Rs 2.5 lakh | NIL |
| Rs 2.5 lakh to Rs 5 lakh | 5% (Tax rebate of Rs 12,500 available under section 87A) |
| 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% |
| Rs 15 lakh and above | 30% |
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