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Income tax slabs 2014-2015 - for General tax payers
| S. No. |
Income tax slab (in Rs.) |
Tax percentage |
| 1 |
Up to Rs 2,50,000 |
No tax / exempt |
| 2 |
2,50,001 to 5,00,000 |
10% |
| 3 |
5,00,001 to 10,00,000 |
20% |
| 4 |
Above 10,00,000 |
30% |
Income tax slabs 2014-2015 - for Female tax payers
| S. No. |
Income tax slab (in Rs.) |
Tax percentage |
| 1 |
Up to Rs 2,50,000 |
No tax / exempt |
| 2 |
2,50,001 to 5,00,000 |
10% |
| 3 |
5,00,001 to 10,00,000 |
20% |
| 4 |
Above 10,00,000 |
30% |
Income tax slabs 2014-2015 - for Senior citizen (Aged 60 years but less than 80 years)
| S. No. |
Income tax slab (in Rs.) |
Tax percentage |
| 1 |
Up to Rs 3,00,000 |
No tax / exempt |
| 2 |
3,00,001 to 5,00,000 |
10% |
| 3 |
5,00,001 to 10,00,000 |
20% |
| 4 |
Above 10,00,000 |
30% |
Income tax slabs 2014-2015 - for Very Senior citizen (Above 80 years)
| S. No. |
Income tax slab (in Rs.) |
Tax percentage |
| 1 |
Up to Rs 5,00,000 |
No tax / exempt |
| 2 |
5,00,001 to 10,00,000 |
20% |
| 3 |
Above 10,00,000 |
30% |
For normal category the simple calculation is as follows
- Taxable Income in 10% slab maximum tax will be Rs. 32000
- Taxable Income in 20% slab maximum tax will be Rs. 32000 + Rs. 60000 total Rs. 92000
- Taxable Income in 30% slab minimum tax will be Rs. 92000
Education and other cess will be in addition to this
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Tax Information - FY 2016 - 2017
