INCOME TAX SLAB RATES FOR F.Y 2016-17 (A.Y 2017-18)

Income Tax

Here is the Income Tax Slab for payment of taxes for the Financial Year 2016-2017 (AY 2017-2018)

Income Tax Slab for Individual Tax Payers & HUF (Less than 60 Years Old)

(Both Men & Women)

Income Slab Tax Rate
Income up to Rs 2,50,000* No tax
Income from Rs 2,50,000 – Rs 5,00,000 10%
Income from Rs 5,00,000 – 10,00,000 20%
Income more than Rs 10,00,000 30%
Surcharge: 15% of income tax, where total income exceeds Rs.1 crore.
Cess: 3% on total of income tax + surcharge.
*Income tax exemption limit for FY 2016-17 is up to Rs. 2,50,000 for individual & HUF other than those covered in Part(II) or (III)


Income Tax Slab for Senior Citizens (60 Years Old Or More but Less than 80 Years Old)

(Both Men & Women)

Income Slab Tax Rate
Income up to Rs 3,00,000* No tax
Income from Rs 3,00,000 – Rs 5,00,000 10%
Income from Rs 5,00,000 – 10,00,000 20%
Income more than Rs 10,00,000 30%
Surcharge: 15% of income tax, where total income exceeds Rs.1 crore.
Cess: 3% on total of income tax + surcharge.
*Income tax exemption limit for FY 2016-17 is up to Rs. 3,00,000 other than those covered in Part(I) or (III)

 

Income Tax Slab for Senior Citizens (80 Years Old Or More)

(Both Men & Women)

Income Slab Tax Rate
Income up to Rs 2,50,000* No tax
Income up to Rs 5,00,000* No tax
Income from Rs 5,00,000 – 10,00,000 20%
Income more than Rs 10,00,000 30%
Surcharge: 15% of income tax, where total income exceeds Rs.1 crore.
Cess: 3% on total of income tax + surcharge.
*Income tax exemption limit for FY 2016-17 is up to Rs. 5,00,000 other than those covered in Part(I) or (II)

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