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Sunday, 20 December 2015

Income Tax Slabs for Financial Year (FY) 2015-16

FY 2015-16 tax rate applies to income earned between 1st April 2015 and 31st March 2016. Income Tax rates for individuals are same for FY 2015-16 and FY 2014-15.

  • Income Tax Rates for taxpayers less than 60 years old

    Tax SlabFY 2015-16 & FY 2014-15 
    Tax Rate
    Tax SlabFY 2013-14 
    Tax Rate
    Up to Rs.2,50,000No TaxUp to Rs.2,00,000No Tax
    Rs.2,50,000 - Rs.5,00,00010%Rs.2,00,000 - Rs.5,00,00010%
    Rs.5,00,000 - Rs.10,00,00020%Rs.5,00,000 - Rs.10,00,00020%
    Rs.10,00,000 and beyond30%Rs.10,00,000 and beyond30%
    Surcharge: 10% of the Income Tax, where total income exceeds Rs.1 crore.
    Education cess: 3% on sum of total income tax and surcharge.

1 comment:

  1. Nice Information !!

    It is very helpful information about Income Tax .

    Thanks for sharing

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