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)
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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