Income tax slab for FY 2015-16 ( AY- 2016-17)

Financial year 2015-16 is coming. Here, I have presented income tax slab for fy 2015-16 and ay 2016-17 as per budget 2015. I hope this income tax rate chart will be helpful to you. Income tax slab for fy 2015-16 – income tax rates : Income tax slab for individual ( age below 60 years), HUF, AOP, BOI, artificial juridical person ( for male and female) :   Net incomeIncome tax rate Up to Rs. 2,50,000NIl Rs. 2,50,001 to Rs. 5,00,00010%* Rs. 5,00,001 to Rs. 10,00,00020% More than Rs. 10,00,00030% Income tax slab for individual – senior citizen( age 60 years or more but less than 80 years) :   Net incomeIncome tax rate Up to Rs. 3,00,000NIl Rs. 3,00,001 to Rs. 5,00,00010%* Rs. 5,00,001 to Rs. 10,00,00020% More than Rs. 10,00,00030%   Income tax slab for individual – super senior citizen ( Age 80 years or more) :   Net incomeTax rate Up to Rs. 5,00,000Nil Rs. 5,00,001 to Rs. 10,00,00020% more than Rs. 10,00,00030%   * Rebate u/s 87A is available to person having income less than Rs. 5,00,000 during the financial year. The rebate amount is Rs. 2,000. So first calculate the tax and reduce Rs. 2,000 from it.The rebate u/s 87A is available to tax and not to income.   Education cess:  Education cess at 3% is appliacable on income tax calculated from the above...

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