INCOME TAX SLAB FOR INDIVIDUAL , WOMAN & SENIOR CITIZEN FINANCIAL YEAR 2015-16

INCOME TAX SLAB FOR INDIVIDUAL , WOMAN & SENIOR CITIZEN FOR ASSESSMENT YEAR 2016-17 FINANCIAL YEAR

* Financial year 2015-16
* Assessment year 2016-17


1) Male/ Female (Individual)

 Zero   to 250000         =  Nil

 250001 to 500000        =  10%

 500001 to 1000000      =  20%

 1000001 - Above         =  30%



2) Senior Citizens Below (Above 60 age)

Zero  to 300000     =  Nil

300001 to 500000   =  10%

500001 to 1000000  =  20%

1000001 - Above    =  30%

3) Super Senior Citizen (Above 80 age)

 Zero   to 500000        =  Nil

 500001 to 1000000   =  20%

 1000001to  Above    =  30%


In addition to above TAX, there is an additional levy of 2% Education Cess and 1% Secondary and Higher Education Cess.


PLEASE NOTE : If income is above Rs. 1,00,00,000 then Surcharge of 10% will be charged on calculated Income Tax