Income Tax Rates for Assessment year 2016-2017:
|Income Tax Rates/Slab for Assessment Year 2016-17||Rates/ %age|
|Up to 2,50,000
Up to 2,50,000 (for women)
Up to 3,00,000 (for resident individual of 60 years till 80 years)
|250,001 – 5,00,000Up to 500,000 (for resident individual of 80 years and above, Tax is nil)||10%Nil|
|5,00,001 – 10,00,000||20%|
Education Cess of 3% is also applicable to Income Tax computed as per above slab.
There is no change in Income Tax Rates for year 2015-16. It is same as last year 2014-15 (AY 2015-16).
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