Income Tax Rate Chart for AY 2015-16 / FY 2014-15
Individual, Hindu undivided family,
association of persons, body of individuals, artificial juridical person.
(i) The rates of income-tax as applicable for Assessment Year 2015-16 in the case of every individual below the Age of Sixty Years
or Hindu undivided family or every association of persons or body of
individuals, whether incorporated or not, or artificial juridical person
|
Income Slabs
|
Tax Rates
|
|
|
i.
|
Where
the total income does
not exceed Rs. 2,50,000/-.
|
NIL
|
|
ii.
|
Where the total
income exceeds Rs. 2,50,000/- but does not exceed Rs. 5,00,000/-.
|
10% of amount by
which the total income exceeds Rs. 2,50,000/-
|
|
iii.
|
Where the total
income exceeds Rs. 5,00,000/- but does not exceed Rs. 10,00,000/-.
|
Rs. 25,000/- + 20%
of the amount by which the total income exceeds Rs. 5,00,000/-.
|
|
iv.
|
Where the total
income exceeds Rs. 10,00,000/-.
|
Rs. 1,25,000/- + 30%
of the amount by which the total income exceeds Rs. 10,00,000/-.
|
(ii) In the case of every
individual, being a resident in India, who is of the age of sixty
years or more but less than eighty years at any time during the previous year,—
|
Income Slabs
|
Tax Rates
|
|
|
i.
|
Where the total
income does not exceed Rs. 3,00,000/-.
|
NIL
|
|
ii.
|
Where the total
income exceeds Rs. 3,00,000/- but does not exceed Rs. 5,00,000/-
|
10% of the amount by
which the total income exceeds Rs. 3,00,000/
|
|
iii.
|
Where the total
income exceeds Rs. 5,00,000/- but does not exceed Rs. 10,00,000/-
|
Rs. 20,000/- + 20%
of the amount by which the total income exceeds Rs. 5,00,000/-.
|
|
iv.
|
Where the total
income exceeds Rs. 10,00,000/-
|
Rs. 120,000/- + 30%
of the amount by which the total income exceeds Rs. 10,00,000/-.
|
(iii) in the case of every individual, being a
resident in India, who is of the age of eighty years or more at anytime during the previous year,—
|
Income Slabs
|
Tax Rates
|
|
|
i.
|
Where the total
income does not exceed Rs. 5,00,000/-.
|
NIL
|
|
ii.
|
Where the total
income exceeds Rs. 5,00,000/- but does not exceed Rs. 10,00,000/-
|
20% of the amount by
which the total income exceeds Rs. 5,00,000/-.
|
|
iii.
|
Where the total
income exceeds Rs. 10,00,000/-
|
Rs. 100,000/- + 30%
of the amount by which the total income exceeds Rs. 10,00,000/-.
|
- See more at:
http://taxguru.in/income-tax/income-tax-rate-chart-assessment-year-201516-financial-year-201415.html#sthash.Y3VlLjxu.dpuf
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