If you are searching for the income tax slab or income tax rates for A.Y. 201617, A.Y. 201516 & A.Y. 201415 then you are on right place as we are going to list here income tax slab in a very simple manner. So that every layman can understand and calculate income tax in a very easy way even you will enjoy to find out other persons income tax.
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Comparison of Income Tax Slab Between A.Y.201617 & A.Y.201516
1) Individual Resident Aged Below 60 Years
Income Slabs  Income Tax Slab A.Y.201617  Income Tax Slab A.Y.201516  

Upto Rs.2,50,000/  NIL  NIL  No diff 
From Rs.2,50,001/ to Rs.5,00,000/  10%  10%  NoDiff 
From Rs.5,00,001/ to Rs.10,00,000/  Rs. 25,000 + 20% of taxable income above Rs. 5 Lacs  Rs. 25,000 + 20% of taxable income above Rs. 5 Lacs  No Diff 
Exceeding Rs.10,00,000/  Rs. 1,25,000 + 30% of taxable income above Rs. 10 Lacs  Rs. 1,25,000 + 30% of taxable income above Rs. 10 Lacs  No Diff 
Surcharge  12% of Income Tax, if Taxable Income More than Rs.1 Crore  10% of Income Tax, if Taxable Income More than Rs.1 Core  2% diff in Surcharge 
Education Cess  3% of (Income Tax + Surcharge)  3% of (Income Tax + Surcharge)  No Diff 
Tax Credit U/s 87A  10% of taxable income upto a maximum of Rs.2000/ for taxable income not exceeding Rs. 5 lacs 
2) Individual Resident Age of 60 Years or More But Below The Age of 80 Years
Income Slabs  Income Tax Slab A.Y.201617  Income Tax Slab A.Y.201516  

Upto Rs.3,00,000/  NIL  NIL  No diff 
From Rs.3,00,001/ to Rs.5,00,000/  10%  10%  NoDiff 
From Rs.5,00,001/ to Rs.10,00,000/  Rs. 20,000 + 20% of taxable income above Rs. 5 Lacs  Rs. 20,000 + 20% of taxable income above Rs. 5 Lacs  No Diff 
Exceeding Rs.10,00,000/  Rs. 1,20,000 + 30% of taxable income above Rs. 10 Lacs  Rs. 1,20,000 + 30% of taxable income above Rs. 10 Lacs  No Diff 
Surcharge  12% of Income Tax, if Taxable Income More than Rs.1 Crore  10% of Income Tax, if Taxable Income More than Rs.1 Core  2% diff in Surcharge 
Education Cess  3% of (Income Tax + Surcharge)  3% of (Income Tax + Surcharge)  No Diff 
Tax Credit U/s 87A  10% of taxable income upto a maximum of Rs.2000/ for taxable income not exceeding Rs. 5 lacs 
3) Individual Resident Age of 80 Years or More
Income Slabs  Income Tax Slab A.Y.201617  Income Tax Slab A.Y.201516  

Upto Rs.5,00,000/  NIL  NIL  No diff 
From Rs.5,00,001/ to Rs.10,00,000/  20% of taxable income above Rs. 5 Lacs  20% of taxable income above Rs. 5 Lacs  No Diff 
Exceeding Rs.10,00,000/  Rs. 1,00,000 + 30% of taxable income above Rs. 10 Lacs  Rs. 1,00,000 + 30% of taxable income above Rs. 10 Lacs  No Diff 
Surcharge  12% of Income Tax, if Taxable Income More than Rs.1 Crore  10% of Income Tax, if Taxable Income More than Rs.1 Core  2% diff in Surcharge 
Education Cess  3% of (Income Tax + Surcharge)  3% of (Income Tax + Surcharge)  No Diff 
Tax Credit U/s 87A  10% of taxable income upto a maximum of Rs.2000/ for taxable income not exceeding Rs. 5 lacs 
Income Tax Slab for A.Y. 201516 (F.Y. 201415)
Income  Tax Rates 


i)  Income up to 2.5 lakh  NIL 
ii)  Income From 2.5 Lakh to 5 Lakh  10% on income over Rs. 2.5 Lakh 
iii)  Income from 5 Lakh to 10 Lakh  Rs. 25,000/ plus 20% on above income 5 lakh 
iv)  Income above 10 lakh  Rs. 1 lakh 25 thousand plus 30% on income above 10 lakh 
v)  Surcharge will be applicable @ 10% when total taxable income is over 1 crore  
vi)  3% Education Cess, Secondary & Higher Education Cess will be applicable on income tax & surcharge 
Income Tax Slabs for Indviduals for 60 years or above but below 80 years A.Y.201516
Income  Tax Rates 


i)  Income up to 3 lakh  NIL 
ii)  Income From 3 Lakh to 5 Lakh  10% on income over Rs. 3 Lakh 
iii)  Income from 5 Lakh to 10 Lakh  Rs. 20,000/ plus 20% on above income 5 lakh 
iv)  Income above 10 lakh  Rs. 1 lakh 20 thousand plus 30% on income above 10 lakh 
Surcharge will be applicable @ 10% when total taxable income is over 1 crore.  
3% education cess will be applicable on income tax & surcharge 
Income Tax Slab for Individuals Over 80 Years A.Y.201516
Income  Tax Rates 


i)  Income up to 5 Lakh  NIL 
ii)  Income From 5 Lakh to 10 Lakh  20% on income over Rs.5 Lakh 
iii)  Income above 10 lakh  Rs. 1 lakh plus 30% on income above 10 lakh 
Surcharge will be applicable @ 10% when total taxable income is over 1 crore.  
3% education cess will be applicable on income tax & surcharge 
Income Tax Slab for A.Y. 201415 (F.Y. 201314)
Income Tax Slab for Individuals who are below than 60 years of age
Income  Tax Rates 


i)  Income up to 2 lakh  NIL 
ii)  Income From 2 Lakh to 5 Lakh  10% on income over Rs. 2 Lakh; Less: Tax Credit  10% of taxable income up to Rs.2000/ maximum 
iii)  Income from 5 Lakh to 10 Lakh  Rs. 30,000/ plus 20% on above income 5 lakh 
iv)  Income above 10 lakh  Rs. 1 lakh 30 thousand plus 30% on income above 10 lakh 
v)  Surcharge will be applicable @ 10% when total taxable income is over 1 crore.  
vi)  3% education cess will be applicable on income tax & surcharge 
Income Tax Slab for Individuals who are 60 years or over 60 years but below 80 years of age
Income  Tax Rates 


i)  Income up to 2 .5 lakh  NIL 
ii)  Income From 2.5 Lakh to 5 Lakh  10% on income over Rs. 2.5 Lakh 
iii)  Income from 5 Lakh to 10 Lakh  Rs. 25,000/ plus 20% on above income 5 lakh 
iv)  Income above 10 lakh  Rs. 1 lakh 25 thousand plus 30% on income above 10 lakh 
Surcharge will be applicable @ 10% when total taxable income is over 1 crore.  
3% education cess will be applicable on income tax & surcharge 
Income Tax Slab for Individuals who are over 80 years of age
Income  Tax Rates 


i)  Income up to 5 Lakh  NIL 
ii)  Income From 5 Lakh to 10 Lakh  20% on income over Rs.5 Lakh 
iii)  Income above 10 lakh  Rs. 1 lakh plus 30% on income above 10 lakh 
Surcharge will be applicable @ 10% when total taxable income is over 1 crore.  
3% education cess will be applicable on income tax & surcharge 
Download Image for Income Tax Slab A.Y. 201415 (Click on the image and save as image to download)
Income Tax Slab for Individuals (A.Y. 201314) (F.Y. 201213)
To find out income tax through the income tax slab for A.Y. 201314, you have to find out the category in which you belong. There are total 9 categories of persons described by the income tax act/income tax department. So all have different income tax rates according to their category.
Categories of persons
Individuals
 Persons who are below than 60 years of age.
 Persons who are more than 60 years of age but below than 80 years. They comes under senior citizens category.
 Person who are more than 80 years of age. They comes under very senior citizens category.
Corporate
 Association of Person & Body of Individuals
 Firms
 CoOperative Society
 Local Authorities
 Domestic Companies
 Other Companies
We have listed here only the income tax slab for individuals for A.Y. 201314 or A.Y.201213). In other words if you belong to the category of Individuals and wants to calculate the income tax for the income earned during the year from 142012 to 3132013, then this income tax rates applicable to you.
Income Tax Slab for Individuals (Below Than 60 Years of age)
If your income is Rs. 2,00,000/ (Two Lakh) then your tax is NIL
If your income is more than Rs. 2,00,000 (Two Lakh) and below than or Rs.5,00,000/ (Five Lakh)  Tax is 10% of amount which exceeds Rs. 2,00,000/ (Two Lakh)
If your income is more than Rs. 5,00,000/ (Five Lakh) and below than or Rs. 10,00,000/ (Ten Lakh)  Tax is Rs.30,000/ (Thirty Thousand) + 20 % of amount which exceeds Rs. 5,00,000/ (Five Lakh)
If your income is more than Rs. 10,00,000/ (10 Lakh) – Tax is Rs.1,30,000/ (One Lakh Thirty Thousand) + 30% of amount which exceeds Rs. 10,00,000/ (Ten Lakh)
Total tax = Tax + 3% of Tax.
So, education cess will be 3% of income tax irrespective of income.
Income Tax slab for individuals who has 60 years of age or more but below than 80 years of age between (142012 to 3132013)
If your income is Rs. 2,50,000/ (Two Lakh) then your tax is NIL
If your income is more than Rs. 2,50,000 (Two Lakh Fifty Thousand) and below than or Rs.5,00,000/ (Five Lakh)  Tax is 10% of amount which exceeds Rs. 2,50,000/ (Two Lakh Fifth Thousand)
If your income is more than Rs. 5,00,000/ (Five Lakh) and below than or Rs. 10,00,000/ (Ten Lakh)  Tax is Rs.25,000/ (Twenty Five Thousand) + 20 % of amount which exceeds Rs. 5,00,000/ (Five Lakh)
If your income is more than Rs. 10,00,000/ (Ten Lakh) – Tax is Rs.1,25,000/ (One Lakh Twenty Five Thousand) + 30% of amount which exceeds Rs. 10,00,000/ (10 Lakh)
Total tax = Tax + 3% of Tax.
So, education cess will be 3% of income tax irrespective of income.
Income Tax slab for individuals who has 80 years (Senior Citizens) of age between (142012 to 3132013)
If your income is Rs. 5,00,000/ (Five Lakh) then your tax is NIL
If your income is more than Rs. 5,00,000/ (Five Lakh) and below than or Rs. 10,00,000/ (Ten Lakh)  Tax is 20 % of amount which exceeds Rs. 5,00,000/ (Five Lakh)
If your income is more than Rs. 10,00,000/ (Ten Lakh) – Tax is Rs.1,00,000/ (One Lakh) + 30% of amount which exceeds Rs. 10,00,000/ (10 Lakh)
Total tax = Tax + 3% of Tax.
So, education cess will be 3% of income tax irrespective of income.
Very good information in simple way.
Thanks
very usefull informations
Ready Reckoner and latest information up dating point to point Very Good
I m appreciate with this tax slab
aprt from 80c, any other option to save tax, who is earning above 10 lakhs, please let me know, it would be great help!
You also donate to any NGO. Under section 80G for 50%, Under Section 35AC for 125% and 351&2 and 35 1&3 for 175%
What are the income tax rules for proprietary business in india.
Please share details
My annual income is 8 lacs , and my tax is coming to 96000/ approx. can u please tell me how to save maximum of this . some thing like 100% tax saving, if any.
you can donate 4 lacs to prime minister relief fund and take ded 150000 of 80 c.
In which case Rs.20000 in income is deductible?
IF THE INCOME NOT EXCEEDING 5.00 LAC
ANY QUERY MAIL ME [email protected]
Very informative and simple. Thanks
My total I.come is 497356. Can u tell.me how can I save my tax
this is a few details
please give 24 example
how you calculate total
income than rebate u/s
last total income & total tax
payble or refundeble
Thanks a lot. It is quite useful.
tax credit of Rs.2000/ maximum for below Rs.5,00,000/ is applicable for A.Y.201516 kindly confirm.
Verygood and senior citizen well lookedafter
my mother turns 80 yrs in september 2014.Is she eligible for over 80 yrs slab in FY20142015
please inform me about the rule regarding exemption of IT of Rs.2000 in 201415 F Y
thanks a lot . it is quite useful.
Dear Sir,
My salary is Rs 320000/ p.a, my savings under 80 c is Rs 1 lakh, i get Rs 50000/ p.a as interest from Rs 5 lakhs fixed deposit kept in bank,
‘ does iam eligible to give Form 15G to the bank to get exemption of tds for Rs 5 lakhs fixed deposit a/c , as my taxable limit crosses Rs 2 lakhs’
kindly advice me, sir
thank u..
15G ONLY GIVEN IF UR TOTALL INCOME NOT EXCEEDING RS. 2.20LAC AY201415.
IF U WANT TO SAVE OUR TAX U CAN DERIVE OUR INCOME FROM INTEREST AS WELL AS YOUR WIFE INCOME / SON INCOME
FOR 201415 U CAN ALSO CLAIMED (2LAC+.20 REBATE+1LAC UNDER 80C)
ANY QUERY MAIL ME [email protected]
very good information
I would like to know the Tax rates for A.O.P. for the F. Y. 201314 and 201415.
I would also like to know if i have a interest income in A. O. P. say about Rs. 75,000 then if i have paid the salary for accounting charges like Rs. 20,000 , then net income will be Rs. 55,000
So my question is how the income tax calculate on this for the above two Financial Years.
I hope you will help me out to understand.
Thanks
if interest income is ur hand so taxable in ur income.
if the interest recd from aop it will also show as well as income less : expences(accountancy chargescheque/draft payment)
had a doubt..
i am an individual and wish to do some business online and i open it with my individual bank account!
so my question is will i be taxed for entire turnover amount of my business?
ex: i own a data entry site! so i get money from clints and advertisers and pay for my users!
lets say i get 10 lacks from clints and i pay 6 lacks for members as there remuneration! so will i need to pay tax for entire 10 lacks?
if so how much percentage???
no way
income recd from client is ur gross totall income
income tax applicable on net income from bussiness (gross totall income operating expences )
It is very good ready recker for all type of people. But some people asked small clarification, If you clarify it would be nice.
please give me a rate for partnership firm lump sum rate
when referring to “Slabs of Income”, in the Table of Income tax to be paid, it would have been extremely helpful if you had clarified that the Slabs referred to “Net Income” slabs and not “Gross Income”