Income Tax Slab rates

Income Tax Slab Rates (AY 2015-16)

(For assessment year 2015-2016)

 

  • In case of an Individual (Resident or non- resident) below 60 years of age or HUF

 

Taxable Income

Tax rates

Up to Rs.2,50,000

Nil

Rs.2,50,000 to Rs.5,00,000

10%

Rs.5,00,000 to Rs.10,00,000

20%

Above Rs.10,00,000

30%

 

  • In case of senior citizens (above 60 years or more at any time during the previous year but less than 80 years on the last day of the previous year)

 

Taxable income

Tax rates

Up to Rs.3,00,000

Nil

Rs.3,00,000 to Rs.5,00,000

10%

Rs.5,00,000 to Rs.10,00,000

20%

Above Rs.10,00,000

30%

 

  • In case of super senior citizens (above 80 years or more at any time during the previous year)
Taxable Income

Tax rates

Up to Rs.5,00,000

Nil

Rs.5,00,000 to Rs.10,00,000

20%

Above Rs.10,00,000

30%

 

  • Cess/ Surcharge for all the above :
  1. Surcharge:  10% of the income tax, where taxable income is more than 1 crore.
  2. Education Cess: 2% of the income tax and surcharge.
  3. Secondary and Higher Education Cess: 1% of the income tax and surcharge.

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