Income Tax Rates of Individuals for Financial Year 2015–16 & AY 2016–17

Indi­vid­ual Tax Rates

Male/ Female

Slabs Tax Rates (Male) Tax Rates (Females)
Tax­able Income upto 2,50,000 Nil Nil
Rs. 2,50,000 to 5,00,000 10% 10%
Rs. 5,00,000 to Rs. 10,00,000 20% 20%
Above Rs. 10,00,000 30% 30%

Senior Cit­i­zen

Slabs Tax Rates
Tax­able Income upto 3,00,000 Nil
Rs. 3,00,000 to 5,00,000 10%
Rs. 5,00,000 to Rs. 10,00,000 20%
Above Rs. 10,00,000 30%

Super Senior Cit­i­zen

Slabs Tax Rates
Tax­able Income upto 5,00,000 Nil
Rs. 5,00,000 to Rs. 10,00,000 20%
Above Rs. 10,00,000 30%

In Addi­tion to That:

Sur­charge: 12% of the Income Tax if Tax­able Income Exceeds Rs. 1 Crore.

Edu­ca­tion Cess: 3% of the Total Income Tax & Sur­charge

Note: Relief under sec­tion 87A is avail­able to a res­i­dent Indi­vid­ual if his total income does not exceed Rs. 5,00,000. The relief avail­able shall be 100% of income-tax or Rs.2,000 whichev­er is less.

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