Income tax filing

An Overview

Income Tax Return filing is mandatory for every individual and businesses as per Income Tax Department rules and guidelines.

Income Tax regime generally changes every year depending on budget presented by ministry of finance every year.

For example, Government of India introduced a New Tax Regime in FY20-21 for individuals, however, have given a choice to an individual to chose whether they would like to opt for New Tax Regime or retain Old Tax Regime


Slabs (income per annum)Old Tax RegimeNew Tax Regime
Upto 2.5 lakhsNILNIL
2.5-5 lakh5%5%
5-7.5 lakh20%10%
7.5-10 lakh20%15%
10-12.5 lakh30%20%
12.5-15 lakh30%25%
Above 15 lakh30%30%


New Tax Regime: New Tax Regime looks good at lower tax rates upto 15 lakhs income per annum, however, this comes at a cost of giving away many tax saving investments and deductions under Sec 80 and Sec 10.

For details on the tax regimes, please click here

So, individuals need to be careful while choosing tax regimes, certainly old tax regime seems better for high income individuals and business

STARTR can help you file the Income Tax returns hassle free at very affordable fee starting at Rs. 299*

*for salaried individuals whose salary is Upto 5 lakhs

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Or fill up the form manually