Income Tax Rates for current year 2015-2016 (Assessment year 2016-2017)

Financial-year-2015-2016

Income Tax Rates for current year 2015-2016 (Assessment year 2016-2017)

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)
Nil
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%
10,00,001 upwards 30%

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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Income Tax Rates for current year 2015-2016 (Assessment year 2016-2017)
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7 Responses to Income Tax Rates for current year 2015-2016 (Assessment year 2016-2017)

  1. Subhash Joshi. says:

    When Govt. of India is publishing new Income Tax Return Forms 2015-2016 . This is too much . Govt. should understand the difficulty of the efficient tax payer . Be fast .

  2. padmesh says:

    has e filing started for 2015-2016

    i have to apply for loan and submit itr returns before july to get my loan passed and disbursed why its taking so much of time this year

  3. Sumit says:

    Can we file tax return for fy 2015-16??

    • Tax Dost says:

      Income tax return for Financial year 2015-2016 can be filed from may 2016. Since income tax forms are release by income tax department in month of may only.

  4. Venakt says:

    Last year there is a section name 80EE for showing interest on home loan but this year we didn’t find. Suggest me where to show interest on home loan this year ITR1