Thursday, July 10, 2014


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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