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Income tax is calculated on the basis of the tax slab. Your taxable income is worked out after making relevant deductions, other taxes that you may have already paid (Advance Tax) and tax deducted at source (TDS), the resultant taxable income will be taxed at the slab rate that is applicable.
Download the Income Tax Computation Format for AY 2020-21 in PDF format online from the link given below.
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