of x

Income Tax Slabs & Rates - AY 2015-16

Published on 2 weeks ago | Categories: Documents | Downloads: 0 | Comments: 0

Comments

Content

 

10/12/2014

Incom e Tax Sl abs & Rates - AY 2015- 16

Hide Menu

Top

Income Tax Slabs & Rates for Assessment Year 2015-16

Change Assessment Year   AY 2014-15 2014-15 ( FY 2013-14 2013-14 )  AY 2013-14 2013-14 ( FY 2012-13 2012-13 )

Please on the linksYear below2015-16  to view  (applicable the Incomeon Tax (also written I. tax or Inc. Into  c.  31.03.2015) tax) Slabs and Rates for foclick r Assessment 2015-16 income earnedshortly during as 01.04.2014 to for  various categories of Indian Income Tax payers. Please send us your suggestions / feedback to enable us to make this page more user-friendly and useful. •   Individual Individual resident resident (Age below below 60 Yrs.) or any NRI NR I / HUF / AOP / BOI BO I•   Firm / AJP •   Senior Citiz   •   Local Authority Citizen en •   Super Senior Citiz   •   Domestic Company Citizen en •   Co-opera   •   Other Company Co-operative tive Society

I.

Individual resident aged below 60 years (i.e. born on or after 1st April 1955) or any NRI / HUF / AOP / BOI / AJP* Income Tax :

Income Slabs Slabs Tax Ta x Rates i. Where the taxable income does does not not exceed Rs. NIL 2,50,000/-. ii. Where the taxable income exc exceeds eeds Rs. 2,50,0 2,50,000/00/- 10% of  amount   amount by which the taxable income but does not exceed Rs. 5,00,000/-. exceeds Rs. 2,50,000/-. Less ( Less  ( in case of Resident Individuals only ) : Tax Credit u/s 87A - 10% of taxable income upto a maximum of Rs. 2000/-.

iii. stores Where thesuch taxable taxable income exceeds Rs. 5,00,0 5,00,000/00/- Rs. 25,000/- + 20% of the amount by which This website data as income but does notsite exceed Rs. 10,00,000/-. the taxable income exceeds Rs. 5,00,000/-. cookies to enable essential iv. as Where taxable income exc exceeds eeds Rs. Rs. 125,000/- + 30% of the the amount by which functionality, well asthe marketing, personalization, and analytics. You 10,00,000/-. the taxable taxable income exceeds exceeds Rs. 10,00,000/-. may change your settings at any time or accept the default settings.

Surcharge : 10% : 10% of the Income Tax, where taxable income is more than Rs. 1 crore. (Marginal ( Marginal Relie in Surcharge Surcharge,, if applicable)

Privacy Policy

Education Cess : 3% : 3% of the total of Income Tax and Surcharge. Marketing

* Abbreviations used :  : 

Personalization NRI - Non Resident Individual; HUF - Hindu Undivided Family; AOP - Association of Persons; BOI - Body of Individuals; Analytics

 AJP - Artificial Judicia Judiciall Person Pe rson

Save

Accept All

http://fi notax.com/i ncom e- tax/sl abs- next

1/4

 

10/12/2014

II.

Incom e Tax Sl abs & Rates - AY 2015- 16

Individual resident who is of the age of 60 years or more but below the age of  80 years at any time during the previous year (i.e. born on or after 1st April 1934 but before 1st April 1954) Income Tax :

i. ii.

iii. iv.

Income Slabs Tax Rates Where the taxable income does does not not exceed Rs. NIL 3,00,000/-. Where the taxable income exc exceeds eeds Rs. 3,00,0 3,00,000/00/- 10% of the amount by which the taxable but does not exceed Rs. 5,00,000/income exceeds Rs. 3,00,000/-. Less : Tax : Tax Credit u/s 87A - 10% of taxable income upto a maximum of Rs. 2000/-. Where the taxable taxable income income exceeds Rs. 5,00,000/5,00,000/- Rs. 20,000/- + 20% of the amount by which but does not exceed Rs. 10,00,000/the taxable income exceeds Rs. 5,00,000/-. Where the taxable income exc exceeds eeds Rs. Rs. 120,000/- + 30% of the amount by which 10,00,000/the taxable income exceeds Rs. 10,00,000/-.

Surcharge : 10% : 10% of the Income Tax, where taxable income is more than Rs. 1 crore. (Marginal ( Marginal Relie in Surcharge, Surcharge, if applicable) Education Cess : 3% : 3% of the total of Income Tax and Surcharge. III.

Individual resident who is of the age of 80 years or more at any time during the previous year (i.e. born before 1st April 1934) Income Tax :

Income Slabs Tax Rates i. Where the taxable income does does not not exceed Rs. NIL 5,00,000/-. ii. Where the taxable income exc exceeds eeds Rs. 5,00,0 5,00,000/00/- 20% of the amount by which the taxable but does not exceed Rs. 10,00,000/income exceeds Rs. 5,00,000/-. iii. Where the taxable income exc exceeds eeds Rs.

Rs. 100,000/- + 30% of the amount by which

This website stores data such as 10,00,000/the taxable income exceeds Rs. 10,00,000/-. cookies to enable essential site functionality, as well as marketing, Surcharge : 10% ofYou : 10% the Income Tax, where taxable income is more than Rs. 1 crore. (Marginal ( Marginal Relie personalization, and analytics. in Surcharge, Surcharge , if applicable) may change your settings at any time or accept the default settings.

Education Cess : 3% : 3% of the total of Income Tax and Surcharge.

Privacy Policy

IV.

Co-operative Society Marketing

Income Tax : Personalization Analytics

Income Slabs i. Where the taxable income does does not not exceed Rs. Save Accept All 10,000/-. ii. Where the taxable income exc exceeds eeds Rs. 10,00 10,000/0/-

Tax Rates 10% of the income. Rs. 1,000/- + 20% of income in excess of 

 

http://fi notax.com/i ncom e- tax/sl abs- next

-

 

-

2/4

 

10/12/2014

Incom e Tax Sl abs & Rates - AY 2015- 16

. , .   iii. Where the taxable income exc exceeds eeds Rs. 20,000/20,000/-

. , . Rs. 3.000/3.000/- + 30% 30% of the amount by which the taxable income exceeds Rs. 20,000/-.

Surcharge : 10% : 10% of the Income Tax, where taxable income is more than Rs. 1 crore. (Marginal ( Marginal Relie in Surcharge, Surcharge, if applicable) Education Cess : 3% : 3% of the total of Income Tax and Surcharge.

V.

Firm Income Tax : 30% : 30% of taxable income. Surcharge : 10% : 10% of the Income Tax, where taxable income is more than Rs. 1 crore. (Marginal ( Marginal Relie in Surcharge, Surcharge, if applicable) Education Cess : 3% : 3% of the total of Income Tax and Surcharge.

VI.

Local Authority Income Tax : 30% : 30% of taxable income. Surcharge : 10% : 10% of the Income Tax, where taxable income is more than Rs. 1 crore. (Marginal ( Marginal Relie in Surcharge, Surcharge, if applicable) Education Cess : 3% : 3% of the total of Income Tax and Surcharge.

VII.

Domestic Company Income Tax : 30% : 30% of taxable income. Surcharge :  :  The amount of income tax as computed in accordance with above rates, and after being reduced by the amount of tax rebate shall be increased by a surcharge  At the rate of 5% of such income tax, provided provided that the taxable taxable income exceeds Rs. Rs . 1 crore. (Marginal Relief in Surcharge, Surcharge, if applicable)

the rate of 10 10% % of such income tax, provided provided that the taxable taxable income exceeds Rs. Rs . 10 crores. This website At stores data such as cookies to enable essential site Education Cess : 3% : 3% of the total of Income Tax and Surcharge. functionality, as well as marketing, personalization, and analytics. You may change your settings at any time Company other than a Domestic Company or III. accept the default settings. Income Tax : Privacy Policy @ 50% of on so much of the taxable income as consist of (a) royalties received from

Government or an Indian concern in pursuance of an agreement made by it with the Government or the Indian concern after the 31st day of March, 1961 but before the 1st day of April, 1976; or (b) Personalization fees for rendering technical services received from Government or an Indian concern in pursuance of an agreement made by it with the Government or the Indian concern after the 29th Analytics day of February, 1964 but before the 1st day of April, 1976, and where such agreement has, in been Save either case, Accept Allapproved by the Central Government. Marketing

@ 40% of the balance

Surcharge : http://fi notax.com/i ncom e- tax/sl abs- next

3/4

 

10/12/2014

Incom e Tax Sl abs & Rates - AY 2015- 16

The amount of income tax as computed in accordance with above rates, and after being reduced by the amount of tax rebate shall be increased by a surcharge as under   At the rate of 2% of such income tax, provided provided that the taxable taxable income exceeds Rs. Rs . 1 crore. (Marginal Relief in Surcharge, Surcharge, if applicable)  At the rate of 5% of such income tax, provided provided that the taxable taxable income exceeds Rs. Rs . 10 crores. Education Cess : 3% : 3% of the total of Income Tax and Surcharge. Marginal Relief : When an assessee's taxable income exceeds Rs. 1 crore, he is liable to pay Surcharge at prescribed rates mentioned above on Income Tax payable by him. However, the amount of Income Tax and Surcharge shall not increase the amount of income tax payable on a taxable income of Rs. 1 crore by more than the amount of increase in taxable income. Example : In case of an individual assesseee (< 60 years) having taxable income of Rs. 1,00,01,000/1. 2. 3. 4.

Income Tax Rs . 28,30,300 Surcharge @10% of Income Tax Rs . 2,83,030 Income Tax on income of Rs. 1 c rore Rs . 28,30,000 Maximum Maximu m Su Surcha rcharge rge pa payab yable le Rs. 700/- (1000 - 300) (Income over Rs. 1 crore less income tax on income over  Rs. 1 crore) 5. Income Tax + Surcharge payable Rs . 28,31,000 6.   Marginal Relief in Surcharge   Rs.. 2,82,330/- (2,83,030 - 700) Rs No change in existing Tax Rates (as shown above) has been proposed in the Interim Budget for the Fiscal Year 2014-15.

Disclaimer :  All efforts efforts are made to keep k eep the content content of thi this s site corre c orrect ct an and d up-to-dat up-to-date. e. But, this site does not make m ake any claim regarding the information provided on its pages as correct and up-to-date. The contents of this site cannot be treated or interpreted as a statement of law. In case, any loss or damage is caused to any person due to his/her treating or interpreting the contents of this site or any part thereof as correct, complete and up-to-date statement of law out of ignorance or otherwise, this site will not be liable in any

manner whatsoever for such loss or damage. This website stores data such as cookies to enable essential site functionality, as well as marketing, personalization, and analytics. You may change your settings at any time or accept the default settings. Privacy Policy Marketing Personalization Analytics Save

Accept All

Sponsor Documents

Recommended

No recommend documents

Hide

Forgot your password?

Or register your new account on INBA.INFO

Hide

Lost your password? Please enter your email address. You will receive a link to create a new password.

Back to log-in

Close