Income Tax Slab for Individual Tax Payers (Less Than 60 Years Old) (Both Men & Women)
Income Tax Slab |
Income Tax Rate |
Upto Rs. 2,50,000 |
Nil |
Rs. 2,50,000 to Rs. 5,00,000 |
10% of Income exceeding Rs. 2,50,000 |
Rs. 5,00,000 to Rs. 10,00,000 |
20% of Income exceeding Rs. 5,00,000 |
Rs. 10,00,000 to Onwords |
30% of Income exceeding Rs. 10,00,000 |
Income Tax Slab Rate For Senior Citizens (Age 60 years or more but less than 80 years)
Income Tax Slab |
Income Tax Rate |
Upto Rs. 3,00,000 |
Nil |
Rs. 3,00,000 to Rs. 5,00,000 |
10% of Income exceeding Rs. 3,00,000 |
Rs. 5,00,000 to Rs. 10,00,000 |
20% of Income exceeding Rs. 5,00,000 |
Rs. 10,00,000 to Onwords |
30% of Income exceeding Rs. 10,00,000 |
Income Tax Slab Rate For Super Senior Citizens (Age 80 years or more)
Income Tax Slab |
Income Tax Rate |
Upto Rs. 5,00,000 |
Nil |
Rs. 5,00,000 to Rs. 10,00,000 |
20% of Income exceeding Rs. 5,00,000 |
Rs. 10,00,000 to Onwords |
30% of Income exceeding Rs. 10,00,000 |
Surcharge :
15% of the Income Tax, where taxable income is more than Rs. 1 crore.
Cess :
3% of education cess the total of Income Tax and Surcharge.
Rebate 87 A :
In case of tax payers, having total income not increasing Rs. 5,00,000/-, Income tax chargeable on the income or Rs. 5,000/-, whichever is less. (This is not applicable for super senior citizen.)