Income Tax Slab for Financial Year 2014 - 2015
(Assessment year 2015 - 2016)
For Individuals below 60 years age (including Woman):
Income
|
Tax Rate
|
Upto 250,000
|
Nil
|
250,000 to 500,000
|
10% of the amount exceeding 250,000
|
500,000 to 1,000,000
|
Rs.25,000 + 20% of the amount exceeding 500,000
|
1,000,000 & above
|
Rs.125,000 + 30% of the amount exceeding 1,000,000
|
For Individuals aged 60 years and above but below 80 years (Senior Citizen):
Income
|
Tax Rate
|
Upto 300,000
|
Nil
|
300,000 to 500,000
|
10% of the amount exceeding 300,000
|
500,000 to 1,000,000
|
Rs.20,000 + 20% of the amount exceeding 500,000
|
1,000,000 & above
|
Rs.120,000 + 30% of the amount exceeding 1,000,000
|
For Individuals aged 80 years and above (Very Senior Citizen):
Income
|
Tax Rate
|
Upto 500,000
|
Nil
|
500,000 to 1,000,000
|
20% of the amount exceeding 500,000
|
1,000,000 & above
|
Rs.100,000 + 30% of the amount exceeding 1,000,000
|
