Income Tax AY 2019 2020

1. CHENNAI
3rd Floor, ‘Creative Enclave’,
148-150, Luz Church Road,
Mylapore,
Chennai - 600 004.
Tel: +91 - 44 - 2498 4821
BANGALORE
Suite 920, Level 9,
Raheja Towers,
26-27, M G Road,
Bangalore - 560 001.
Tel: +91 - 80 - 6546 2400
COIMBATORE
BB1, Park Avenue,
# 48, Race Course Road,
Coimbatore - 641018.
Tel: +91 - 422 – 6552921
EMAIL
info@altacit.com
WEBSITE
www.altacit.com
Income Tax - FY 2018-19
(AY 2019-20)
By
Parvathi.V
Accounts Department
•Notaxforindividualswith
•0%-5withincome2.5intaxes%tax ₹

2. CHENNAI
3rd Floor, ‘Creative Enclave’,
148-150, Luz Church Road,
Mylapore,
Chennai - 600 004.
Tel: +91 - 44 - 2498 4821
BANGALORE
Suite 920, Level 9,
Raheja Towers,
26-27, M G Road,
Bangalore - 560 001.
Tel: +91 - 80 - 6546 2400
COIMBATORE
BB1, Park Avenue,
# 48, Race Course Road,
Coimbatore - 641018.
Tel: +91 - 422 – 6552921
EMAIL
info@altacit.com
WEBSITE
www.altacit.com
• No tax for individuals with income
less than 2,50,000₹
• 0%-5 with income 2.5 lacs to 5 lacs₹
for different groups
• 20% tax with income 5 lacs to 10₹
lacs
• Investments upto 1.5 lacs under Sec₹
80C can save 45,000 in taxes% tax₹

3. CHENNAI
3rd Floor, ‘Creative Enclave’,
148-150, Luz Church Road,
Mylapore,
Chennai - 600 004.
Tel: +91 - 44 - 2498 4821
BANGALORE
Suite 920, Level 9,
Raheja Towers,
26-27, M G Road,
Bangalore - 560 001.
Tel: +91 - 80 - 6546 2400
COIMBATORE
BB1, Park Avenue,
# 48, Race Course Road,
Coimbatore - 641018.
Tel: +91 - 422 – 6552921
EMAIL
info@altacit.com
WEBSITE
www.altacit.com
Different groups
Individuals & HUF (Age <60 years)
Income Tax Slabs Tax Rate Health and Education Cess
Income up to Rs 2,50,000* No tax
Income from Rs 2,50,000 –
Rs 5,00,000
5% 4% of Income Tax
Income from Rs 5,00,000 –
10,00,000
20% 4% of Income Tax
Income more than Rs
10,00,000
30% 4% of Income Tax

4. CHENNAI
3rd Floor, ‘Creative Enclave’,
148-150, Luz Church Road,
Mylapore,
Chennai - 600 004.
Tel: +91 - 44 - 2498 4821
BANGALORE
Suite 920, Level 9,
Raheja Towers,
26-27, M G Road,
Bangalore - 560 001.
Tel: +91 - 80 - 6546 2400
COIMBATORE
BB1, Park Avenue,
# 48, Race Course Road,
Coimbatore - 641018.
Tel: +91 - 422 – 6552921
EMAIL
info@altacit.com
WEBSITE
www.altacit.com
Income Tax Slabs Tax Rate Health and Education Cess
Income up to Rs 3,00,000* No tax
Income from Rs 3,00,000 –
Rs 5,00,000
5% 4% of Income Tax
Income from Rs 5,00,000 –
10,00,000
20% 4% of Income Tax
Income more than Rs
10,00,000
30% 4% of Income Tax
Senior Citizens
(Age: 60-80 yrs)

5. CHENNAI
3rd Floor, ‘Creative Enclave’,
148-150, Luz Church Road,
Mylapore,
Chennai - 600 004.
Tel: +91 - 44 - 2498 4821
BANGALORE
Suite 920, Level 9,
Raheja Towers,
26-27, M G Road,
Bangalore - 560 001.
Tel: +91 - 80 - 6546 2400
COIMBATORE
BB1, Park Avenue,
# 48, Race Course Road,
Coimbatore - 641018.
Tel: +91 - 422 – 6552921
EMAIL
info@altacit.com
WEBSITE
www.altacit.com
Income Tax Slabs Tax Rate Health and Education Cess
Income up to Rs 5,00,000* No tax
Income from Rs 5,00,000 –
10,00,000
20% 4% of Income Tax
Income more than Rs
10,00,000
30% 4% of Income Tax
Senior Citizens
(Age: 60-80 yrs)

6. CHENNAI
3rd Floor, ‘Creative Enclave’,
148-150, Luz Church Road,
Mylapore,
Chennai - 600 004.
Tel: +91 - 44 - 2498 4821
BANGALORE
Suite 920, Level 9,
Raheja Towers,
26-27, M G Road,
Bangalore - 560 001.
Tel: +91 - 80 - 6546 2400
COIMBATORE
BB1, Park Avenue,
# 48, Race Course Road,
Coimbatore - 641018.
Tel: +91 - 422 – 6552921
EMAIL
info@altacit.com
WEBSITE
www.altacit.com
» Turnover Particulars
• Tax Rate
• Gross turnover upto 250 Cr. in the previous
year 25%
• Gross turnover exceeding 250 Cr. in the
previous year 29%
• In addition cess and surcharge is levied as
follows: Cess: 4% of corporate tax
Surcharge: Taxable income is more than 1Cr.
but less than 10Cr.: 7% Taxable income is
more than 10Cr. :12%
Domestic Companies

7. CHENNAI
3rd Floor, ‘Creative Enclave’,
148-150, Luz Church Road,
Mylapore,
Chennai - 600 004.
Tel: +91 - 44 - 2498 4821
BANGALORE
Suite 920, Level 9,
Raheja Towers,
26-27, M G Road,
Bangalore - 560 001.
Tel: +91 - 80 - 6546 2400
COIMBATORE
BB1, Park Avenue,
# 48, Race Course Road,
Coimbatore - 641018.
Tel: +91 - 422 – 6552921
EMAIL
info@altacit.com
WEBSITE
www.altacit.com
DEDUCTION IN RESPECT OF
INVESTMENTS
•
Section 80C provides for a deduction of savings in
specified modes of Investments form gross total
income. It is available only to an Individual or HUF.
The Maximum permissible deduction is Rs.1.5
lakh along with deduction u/s 80CCC & 80CCD.

8. CHENNAI
3rd Floor, ‘Creative Enclave’,
148-150, Luz Church Road,
Mylapore,
Chennai - 600 004.
Tel: +91 - 44 - 2498 4821
BANGALORE
Suite 920, Level 9,
Raheja Towers,
26-27, M G Road,
Bangalore - 560 001.
Tel: +91 - 80 - 6546 2400
COIMBATORE
BB1, Park Avenue,
# 48, Race Course Road,
Coimbatore - 641018.
Tel: +91 - 422 – 6552921
EMAIL
info@altacit.com
WEBSITE
www.altacit.com
Investments in Tax
Saving FDs
Tax-saving FDs are like regular fixed deposits but come with a
lock-in period of 5 years and tax break under Section 80C on
investments of up to Rs 1.5 lakh.
Eligibility : Can be opened by Resident Indian individuals.
Liquidity: Fixed Deposits have lock-in period of 5 years.
Rate of Interest : FD interest rateacross different banks ranges
from 5.5% to 7.75%
Investment Limit: Minimum investment limit is Rs 1000.
Tax Treatment : Interest earned in taxable.

9. CHENNAI
3rd Floor, ‘Creative Enclave’,
148-150, Luz Church Road,
Mylapore,
Chennai - 600 004.
Tel: +91 - 44 - 2498 4821
BANGALORE
Suite 920, Level 9,
Raheja Towers,
26-27, M G Road,
Bangalore - 560 001.
Tel: +91 - 80 - 6546 2400
COIMBATORE
BB1, Park Avenue,
# 48, Race Course Road,
Coimbatore - 641018.
Tel: +91 - 422 – 6552921
EMAIL
info@altacit.com
WEBSITE
www.altacit.com
Investments in PPF
(Public Provident Fund)
• PPF are long term investments backed by government of
India. Deposits made in a PPF account are eligible for tax
deductions under Section 80C.
• Eligibility : Can be opened by Resident Indian individuals,
salaried and non-salaried individuals. A HUF cannot open a
PPF account.
• Liquidity: PPF account have lock-in period of 15 years, but
can be further extended by 5 years. Partial withdrawals are
allowed after 7 years.
• Rate of Interest : Current interest rate is 7.6% p.a.
• Investment Limit: Minimum and maximum investment limit
is Rs 500 and Rs 1.5 lakh respectively.
• Tax Treatment : Interest earned in tax-free.

10. CHENNAI
3rd Floor, ‘Creative Enclave’,
148-150, Luz Church Road,
Mylapore,
Chennai - 600 004.
Tel: +91 - 44 - 2498 4821
BANGALORE
Suite 920, Level 9,
Raheja Towers,
26-27, M G Road,
Bangalore - 560 001.
Tel: +91 - 80 - 6546 2400
COIMBATORE
BB1, Park Avenue,
# 48, Race Course Road,
Coimbatore - 641018.
Tel: +91 - 422 – 6552921
EMAIL
info@altacit.com
WEBSITE
www.altacit.com
Investments in EPF (Employee
Provident Fund)
• EPF is a retirement benefit scheme that is available to all
salaried employees. This amounts to 12% of basic salary +
DA, that is deducted by an employer and deposited in the
EPF or other recognised provident fund.
• Eligibility : Can be opened by employee with basic salary
greater than 15,000 /month
• Liquidity: Can withdraw PF balance after 2 months of
leaving job and does not take up employment within two
months with an employer covered by PF Act
• Rate of Interest : Interest rate on the EPF is 8.55%.
• Investment Limit: Both employer and employee have to
contribute a minimum 12% of Basic Pay + D.A.
• Tax Treatment : Entire PF balance (including interest) is
tax-free if withdrawn after continuous service of 5 years

11. CHENNAI
3rd Floor, ‘Creative Enclave’,
148-150, Luz Church Road,
Mylapore,
Chennai - 600 004.
Tel: +91 - 44 - 2498 4821
BANGALORE
Suite 920, Level 9,
Raheja Towers,
26-27, M G Road,
Bangalore - 560 001.
Tel: +91 - 80 - 6546 2400
COIMBATORE
BB1, Park Avenue,
# 48, Race Course Road,
Coimbatore - 641018.
Tel: +91 - 422 – 6552921
EMAIL
info@altacit.com
WEBSITE
www.altacit.com
Investments in NPS (National
Pension System)
• The NPS is a pension scheme that has been started by the
Indian Government to allow the unorganised sector and
working professionals to have a pension after retirement.
Investments of up to Rs 1.5 lakh can be used to avail tax
deductions under Section 80C
• Eligibility : Can be opened by every Indian citizen between
the age of 18 and 60
• Liquidity: Partial withdrawals are allowed after 15 years
but under special conditions
• Rate of Interest : Interest rate on the NPS varies between
12% – 14%
• Investment Limit: No limit on maximum contribution
• Tax Treatment : Employer contributions are tax-free

12. CHENNAI
3rd Floor, ‘Creative Enclave’,
148-150, Luz Church Road,
Mylapore,
Chennai - 600 004.
Tel: +91 - 44 - 2498 4821
BANGALORE
Suite 920, Level 9,
Raheja Towers,
26-27, M G Road,
Bangalore - 560 001.
Tel: +91 - 80 - 6546 2400
COIMBATORE
BB1, Park Avenue,
# 48, Race Course Road,
Coimbatore - 641018.
Tel: +91 - 422 – 6552921
EMAIL
info@altacit.com
WEBSITE
www.altacit.com
• Payments in LIC – Life Insurance Premium
• Payments in Children’s tution fees
• The fee can be paid to any school, college, university or
educational institute situated in India. The fees have to be
for a full-time course only.
• Repayment of Home Loan
• Tax savings for Home loan interest under Section 24 B
• The principal amount in the repayment of a home loan
can be added to the 80C limit of Rs1.5 lakh for tax
savings.
• The interest component of home loans is allowed as
deduction under Section 24 B for up to Rs2 lakh .
• .

13. CHENNAI
3rd Floor, ‘Creative Enclave’,
148-150, Luz Church Road,
Mylapore,
Chennai - 600 004.
Tel: +91 - 44 - 2498 4821
BANGALORE
Suite 920, Level 9,
Raheja Towers,
26-27, M G Road,
Bangalore - 560 001.
Tel: +91 - 80 - 6546 2400
COIMBATORE
BB1, Park Avenue,
# 48, Race Course Road,
Coimbatore - 641018.
Tel: +91 - 422 – 6552921
EMAIL
info@altacit.com
WEBSITE
www.altacit.com
Investments in Sukanya
Samriddhi Yojana
• Sukanya Samriddhi Yojana/Scheme is one of the most
popular scheme by Government of India. The scheme is
aimed at betterment of girl child in the country
• Eligibility : Parents/guardians can open account in the
name of a girl child till she attains the age of 10 years
• Liquidity: Up to 50% of the deposit amount can be
prematurely withdrawn once the girl reaches the age of 18
years
• Rate of Interest : Interest rate on Sukanya Samriddhi
Yojana is 8.6%
• Investment Limit: Investment is limited to maximum
Rs.1,50,000 in a financial year
• Tax Treatment : Investment and withdrawals & maturity
amount are tax-free

14. CHENNAI
3rd Floor, ‘Creative Enclave’,
148-150, Luz Church Road,
Mylapore,
Chennai - 600 004.
Tel: +91 - 44 - 2498 4821
BANGALORE
Suite 920, Level 9,
Raheja Towers,
26-27, M G Road,
Bangalore - 560 001.
Tel: +91 - 80 - 6546 2400
COIMBATORE
BB1, Park Avenue,
# 48, Race Course Road,
Coimbatore - 641018.
Tel: +91 - 422 – 6552921
EMAIL
info@altacit.com
WEBSITE
www.altacit.com
• DEDUCTION IN RESPECT OF CONTRIBUTION TO CERTAIN PENSION
FUNDS (SECTION 80CCC)
• DEDUCTION IN RESPECT OF CONTRIBUTION TO PENSION SCHEME
OF CENTRAL GOVERNMENT (SECTION 80CCD)
• Assessee gets an additional deduction of 50,000
• LIMIT ON DEDUCTION U/S 80C, 80CCC, 80CCD, 80ccd(1B) -Rs.
2,00,000/-
• DEDUCTION IN RESPECT OF MEDICAL INSURANCE PREMIUM
(SECTION 80D) – Rs.25,000/-
• DEDUCTION IN RESPECT OF REHABILITATION OF HANDICAPPED
DEPENDENT RELATIVE (SECTION 80DD) – Rs.75,000/-
• In case of severe disability (i.e. a person with 80% or more
disability), the deduction ofRs. 1,25,000
• Note : (To claim this deduction, you have to submit FORM NO. 10-
IA.)

15. CHENNAI
3rd Floor, ‘Creative Enclave’,
148-150, Luz Church Road,
Mylapore,
Chennai - 600 004.
Tel: +91 - 44 - 2498 4821
BANGALORE
Suite 920, Level 9,
Raheja Towers,
26-27, M G Road,
Bangalore - 560 001.
Tel: +91 - 80 - 6546 2400
COIMBATORE
BB1, Park Avenue,
# 48, Race Course Road,
Coimbatore - 641018.
Tel: +91 - 422 – 6552921
EMAIL
info@altacit.com
WEBSITE
www.altacit.com
Computation Sheet – AY 2019 –
2020

16. CHENNAI
3rd Floor, ‘Creative Enclave’,
148-150, Luz Church Road,
Mylapore,
Chennai - 600 004.
Tel: +91 - 44 - 2498 4821
BANGALORE
Suite 920, Level 9,
Raheja Towers,
26-27, M G Road,
Bangalore - 560 001.
Tel: +91 - 80 - 6546 2400
COIMBATORE
BB1, Park Avenue,
# 48, Race Course Road,
Coimbatore - 641018.
Tel: +91 - 422 – 6552921
EMAIL
info@altacit.com
WEBSITE
www.altacit.com