New Delhi: The government will introduce pre-filled Income Tax Return (ITR) forms for individual taxpayers.
During her Budget speech in Pariliament on Monday, Union Finance Minister Nirmala Sitharaman said the new ITR form will contain pre-filled details of certain incomes like salary, details of capital gains, dividends and interest including from post offices.
All income tax rates remain unchanged.
Following are personal income tax rates which will be applicable for FY 2021-22:
Salary up to Rs 2.5 lakh per annum – Nil
Salary from Rs 2,500,01 to Rs 5 lakh lakh per annum – 5%
Salary from Rs 5,000,01 to Rs 7.5 lakh per annum – 10%
Salary from Rs 7,500,01 to Rs 10 lakh per annum – 15%
Salary up to Rs 10,000,01 to Rs 12.5 lakh per annum – 20%
Salary from 12,5000,01 Rs 15 lakh per annum – 25%
Above Rs 15 lakh per annum – 30%.
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