If you are searching for the income tax slab or income tax rates for A.Y. 2014-15 or A.Y. 2015-16 then you are on right place as we are going to list here income tax slab in a very simple manner. So that every layman can understand and calculate income tax in a very easy way even you will enjoy to find out other persons income tax.
Income Tax Slab for A.Y. 2015-16 (F.Y. 2014-15)
| Income | Tax Rates | |
| i) | Income up to 2.5 lakh | NIL |
| ii) | Income From 2.5 Lakh to 5 Lakh | 10% on income over Rs. 2.5 Lakh |
| iii) | Income from 5 Lakh to 10 Lakh | Rs. 25,000/- plus 20% on above income 5 lakh |
| iv) | Income above 10 lakh | Rs. 1 lakh 25 thousand plus 30% on income above 10 lakh |
| v) | Surcharge will be applicable @ 10% when total taxable income is over 1 crore | |
| vi) | 3% Education Cess, Secondary & Higher Education Cess will be applicable on income tax & surcharge | |
Income Tax Slabs for Indviduals for 60 years or above but below 80 years A.Y.2015-16
| Income | Tax Rates | |
| i) | Income up to 3 lakh | NIL |
| ii) | Income From 3 Lakh to 5 Lakh | 10% on income over Rs. 3 Lakh |
| iii) | Income from 5 Lakh to 10 Lakh | Rs. 20,000/- plus 20% on above income 5 lakh |
| iv) | Income above 10 lakh | Rs. 1 lakh 20 thousand plus 30% on income above 10 lakh |
| Surcharge will be applicable @ 10% when total taxable income is over 1 crore. | ||
| 3% education cess will be applicable on income tax & surcharge | ||
Income Tax Slab for Individuals Over 80 Years A.Y.2015-16
| Income | Tax Rates | |
| i) | Income up to 5 Lakh | NIL |
| ii) | Income From 5 Lakh to 10 Lakh | 20% on income over Rs.5 Lakh |
| iii) | Income above 10 lakh | Rs. 1 lakh plus 30% on income above 10 lakh |
| Surcharge will be applicable @ 10% when total taxable income is over 1 crore. | ||
| 3% education cess will be applicable on income tax & surcharge | ||