The income tax calculation for the employees without PAN is similar to the previous budget. This calculation is also the same for old and new regimes. If the income of employees falls under the tax rate of 20%, then the employees will be charged 20% tax irrespective of the tax rates. For the employees falling under the tax rate higher than 20%, the tax will be deducted according to the actual tax calculation. Let us understand the tax calculation for employees without PAN with the help of the following table:
Old Regime Income Tax Rates | New Regime Income Tax Rates | Tax Rates for employees without PAN |
---|---|---|
0% - 20% | 0% - 20% | 20% |
25% | 25% | 25% |
30% | 30% | 30% |
Related videos:
- As an admin, what has changed for you in greytHR as per the budget 2020-2021
- How to declare IT in old ESS after budget 2020-2021
- How to declare IT in new ESS after budget 2020-2021
Related links: