Income Tax Rates for Individuals, HUF , AOP, BOI & Artificial Juridical Person – Rates For the Assessment Year 2016-2017

Special Rates for Resident Women (who is below 60 years at any time during the previous year): – Not applicable w.e.f A.Y 2014-15

Special Rates for Resident Super Senior Citizen (who is 80 years or more at any time during the previous year)

 Income Tax Rates for Individuals, HUF , AOP, BOI & Artificial Juridical Person – Rates For the Assessment Year 2016-2017
Net Income Range
Income Tax Rates
Tax

Upto ₹ 2,50,000

Nil

Nil

₹ 2,50,000 – ₹ 5,00,000

10%

10% of total income minus ₹ 2,50,000

See Notes

₹ 5,00,000 – ₹ 10,00,000

20%

₹ 25,000 + 20% of total income minus ₹ 5,00,000

–do–

Above ₹ 10,00,000

30%

₹ 1,25,000 + 30% of total income minus ₹ 10,00,000

–do–

Special Rates for Resident Women (who is below 60 years at any time during the previous year): – Not applicable w.e.f A.Y 2014-15

Special Rates for Resident Senior Citizen (who is 60 years or more at any time during the previous year)

Net Income Range
Income Tax Rates
Tax

Upto ₹ 3,00,000

Nil

Nil

₹ 3,00,000 – ₹ 5,00,000

10%

10% of total income minus ₹ 3,00,000

See Notes

₹ 5,00,000 – ₹ 10,00,000

20%

₹ 20,000 + 20% of total income minus ₹ 5,00,000

–do–

Above ₹ 10,00,000

30%

₹ 1,20,000 + 30% of total income minus ₹ 10,00,000

–do–

Special Rates for Resident Super Senior Citizen (who is 80 years or more at any time during the previous year)

Net Income Range
Income Tax Rates
Tax

Upto ₹ 5,00,000

Nil

Nil

See Notes

₹ 5,00,000 – ₹ 10,00,000

20

20% of total income minus ₹ 5,00,000

–do–

Above ₹ 10,00,000

30%

₹ 1,00,000 + 30% of total income minus ₹ 10,00,000

–do–

Notes: 
for the Assessment Year 2016-2017

Note 1: – Add Surcharge – 12% if income exceeds ₹ 1 Crores – with marginal relief.

Note 2: – Add Education Cess – E. Cess is 2% of Income Tax & Surcharge

Note 3: – Add Secondary and Higher Education Cess – SHE. Cess is 1% of Income Tax & Surcharge

Note 4:- Rebate – Upto ₹ 2,000 U/s 87A – Any individual who is resident in India is eligible for this rebate, if total income is not
exceeding ₹ 500,000 This rebate is not allowed to HUF, AOP or BOI.

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