Tax Slab Rate
INCOME TAX SLAB RATES ASSESSMENT YEAR 2015-16
INDIVIDUAL
Resident - Male
(resident or non-resident)
Taxable income
|
Tax Rate
|
Up to Rs. 2,50,000
|
Nil
|
Rs. 2,50,000 to Rs. 5,00,000
|
10%
|
Rs. 5,00,000 to Rs. 10,00,000
|
20%
|
Above Rs. 10,00,000
|
30%
|
Add: Surcharge and Education Cess [see Note]
Less: Rebate under Section 87A:- The rebate is available to a resident individual if his total income does not exceed Rs. 5,00,000. The amount of rebate shall be 100% of income-tax or Rs. 2,000, whichever is less.
Resident - Female
(resident or non-resident)
Taxable income
|
Tax Rate
|
Up to Rs. 2,50,000
|
Nil
|
Rs. 2,50,000 to Rs. 5,00,000
|
10%
|
Rs. 5,00,000 to Rs. 10,00,000
|
20%
|
Above Rs. 10,00,000
|
30%
|
Add: Surcharge and Education Cess
Senior Citizen
who is 60 years or more at any time during the previous year but less than 80 years on the last day of the previous year
Taxable income
|
Tax Rate
|
Up to Rs. 3,00,000
|
Nil
|
Rs. 3,00,000 to Rs. 5,00,000
|
10%
|
Rs. 5,00,000 to Rs. 10,00,000
|
20%
|
Above Rs. 10,00,000
|
30%
|
Add: Surcharge and Education Cess
Super Senior Citizen
who is 80 years or more at any time during the previous year
Taxable income
|
Tax Rate
|
Up to Rs. 5,00,000
|
Nil
|
Rs. 5,00,000 to Rs. 10,00,000
|
20%
|
Above Rs. 10,00,000
|
30%
|
Add: Surcharge and Education Cess
HINDU UNDIVIDED FAMILY (HUF)
Taxable income
|
Tax Rate
|
Up to Rs. 2,50,000
|
Nil
|
Rs. 2,50,000 to Rs. 5,00,000
|
10%
|
Rs. 5,00,000 to Rs. 10,00,000
|
20%
|
Above Rs. 10,00,000
|
30%
|
Add: Surcharge and Education Cess
PARTNERSHIP FIRM
For the Assessment Year 2014-15 and 2015-16, a partnership firm (including LLP) is taxable at 30%.
LOCAL AUTHORITY
For the Assessment Year 2014-15 and 2015-16, a local authority is taxable at 30%.
DOMESTIC COMPANY
FOREIGN COMPANY
Taxable income
|
Tax Rate
|
Royalty received from Government or an Indian concern in pursuance of an agreement made with the Indian concern after March 31, 1961, but before April 1, 1976, or fees for rendering technical services in pursuance of an agreement made after February 29, 1964 but before April 1, 1976 and where such agreement has, in either case, been approved by the Central Government
|
30%
|
Any other income
|
40%
|
CO-OPERATIVE SOCIETY
Taxable income
|
Tax Rate
|
Up to Rs. 10,000
|
10%
|
Rs. 10,000 to Rs. 20,000
|
20%
|
Above Rs. 20,000
|
30%
|
