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Previous Years Income Tax Slabs / Rates in India - Income Tax Act 1961
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by
Rajesh Goyal
************
The following INCOME TAX RATES ARE applicable for the
Financial Year ending March 31, 2016
(i.e. Financial Year 2015-16) - Assessment Year 2016-17)
Every year the income tax rates are changed and it is important to get the latest income tax rates. We give below the
Income Tax Rates and Slabs
applicable for the FY 2015-16 or AY 2016-17. [As
there was no change in Income Tax slabs for FY 2015-16
(i.e. AY 2016-17), the following rates were also applicable for FY 2014-15 (AY
2015-16)
Income Range
General (non-senior citizens) Category
Women (Below 60 years of age)
(This category is abolished from this year and is thus is same as that of
General Category
Senior Citizens (Men and Women above 60 years of age), but below 80 years
Very Senior Citizens (Men and Women above 80 years of age)
Upto Rs. 2,50,000
Nil
Nil
Nil
Nil
Rs. 2,50,001 to Rs. 3,00,000
10% *
10% *
Nil
Nil
Rs. 3,00,001 to Rs. 5,00,000
10% *
10% *
10% *
Nil
Rs. 5,00,001 to Rs. 10,00,000
20%
20%
20%
20%
Above Rs. 10,00,000
30% **
30% **
30% **
30%**
* A tax rebate of Rs 2,000 from tax calculated will be available for people
having an annual income upto Rs 5 lakh. However, this benefit of
Rs2,000 tax credit will not be available if you cross the income range of Rs 5
lakh. Thus we can say that tax payable in 10% slab will be maximum
Rs23,000 (taking into account Rs 2000 tax credit), but for people who fall in
income range of Rs5 lakh and above, the tax will be Rs25,000 + 20% tax on income
above Rs 5 lakh;
The education cess to continue at 3 percent.
**
The Surcharge @ 12%
for the FY 2015-16 or AS 2016-17 will be payable if the income is above Rs 1
crores).
For the FY 2014-15 it was 10% .
The following income tax RATES WERE applicable for the Financial Year ending March 31, 2013 (Financial
Year 2012-13)-Assessment Year 2013-14):
Income Range
General (non-senior
citizens) Category
Women (Below 60 years of age)
(This
category is abolished from this year and is thus is same as that of
General Category
Senior Citizens (Men and Women above 60
years of age), but below 80 years
Very Senior Citizens (Men and
Women above 80 years of age)
Upto Rs. 2,00,000
Nil
Nil
Nil
Nil
Rs. 2,00,001 to Rs. 2,50,000
10%
10%
Nil
Nil
Rs. 2,50,001 to Rs. 5,00,000
10%
10%
10%
Nil
Rs. 5,00,001 to Rs. 10,00,000
20%
20%
20%
20%
Above Rs. 10,00,000
30%
30%
30%
30%
The following tax rates WERE applicable for the Financial Year ending March 31, 2012 (Financial
Year 2011-12)-Assessment Year 2012-13):
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Income Range
General (non-senior and non-women)
Women (Below 65 years of age)
Senior Citizens (Men and Women above 60
years of age), but below 80 years
Very Senior Citizens (Men and
Women above 80 years of age)
Upto Rs. 180,000
Nil
Nil
Nil
Nil
Rs. 1,80,001 to Rs. 1,90,000
10%
Nil
Nil
Nil
Rs. 190,001 to Rs. 2,50,000
10%
10%
Nil
Nil
Rs. 2,50,001 to Rs. 5,00,000
10%
10%
10%
Nil
Rs. 5,00,001 to Rs. 8,00,000
20%
20%
20%
20%
Above Rs. 800,000
30%
30%
30%
30%
- Till previous year, the senior
citizens were those who were above 65 years
- The concept of Very Senior Citizen
has been added only from this year (FY 2011-12)
- Surcharge is not applicable
- Education cess is applicable @3%
on income tax
Click Here to View the Latest Income Tax
Rate Slabs / Rates :
We give below the Income Tax Slabs /
Income Tax Rates for various years for reference :
Income Tax Rates/Slabs for A.Y. (2011-12)
Slab (Rs.)
Tax (Rs.)
less than 1,60,000
Nil
1,60,000 to 5,00,000
(TI – 1,60,000) * 10%
5,00,000 to 8,00,000
34,000 + (TI – 5,00,000) * 20%
Greater than 8,00,000
94,000 + (TI – 8,00,000) * 30%
Women aged 65 years or less
Slab (Rs.)
Tax (Rs.)
less than 1,90,000
Nil
1,90,000 to 5,00,000
(TI – 1,90,000) * 10%
5,00,000 to 8,00,000
31,000 + (TI – 5,00,000) * 20%
Greater than 8,00,000
91,000 + (TI – 8,00,000) * 30%
Senior
Citizens (Individuals aged above 65 years)
Slab (Rs.)
Tax (Rs.)
less than 2,40,000
Nil
2,40,000 to 5,00,000
(TI – 2,40,000) * 10%
5,00,000 to 8,00,000
26,000 + (TI – 5,00,000) * 20%
Greater than 8,00,000
86,000 + (TI – 8,00,000) * 30%
Income Tax Rates/Slabs for A.Y. (2010-11)
Slab (Rs.)
Tax (Rs.)
less than 1,60,000
Nil
1,60,000 to 3,00,000
(TI – 1,60,000) * 10%
3,00,000 to 5,00,000
14,000 + (TI – 3,00,000) * 20%
Greater than 5,00,000
54,000 + (TI – 5,00,000) * 30%
Women aged 65 years or less
Slab (Rs.)
Tax (Rs.)
less than 1,90,000
Nil
1,90,000 to 3,00,000
(TI – 1,90,000) * 10%
3,00,000 to 5,00,000
11,000 + (TI – 3,00,000) * 20%
Greater than 5,00,000
51,000 + (TI – 5,00,000) * 30%
Senior Citizens (Individuals aged above 65 years)
Slab (Rs.)
Tax (Rs.)
less than 2,40,000
Nil
2,40,000 to 3,00,000
(TI – 2,40,000) * 10%
3,00,000 to 5,00,000
6,000 + (TI – 3,00,000) * 20%
Greater than 5,00,000
46,000 + (TI – 5,00,000) * 30%
Income Tax Rates/Slabs for A.Y. (2009-10)
Slab (Rs.)
Tax (Rs.)
less than 1,50,000
Nil
1,50,000 to 3,00,000
(TI – 1,50,000) * 10%
3,00,000 to 5,00,000
15,000 + (TI – 3,00,000) * 20%
Greater than 5,00,000
55,000 + (TI – 5,00,000) * 30%
Women aged 65 years or less
Slab (Rs.)
Tax (Rs.)
less than 1,80,000
Nil
1,80,000 to 3,00,000
(TI – 1,80,000) * 10%
3,00,000 to 5,00,000
12,000 + (TI – 3,00,000) * 20%
Greater than 5,00,000
52,000 + (TI – 5,00,000) * 30%
Senior Citizens (Individuals aged above 65 years)
Slab (Rs.)
Tax (Rs.)
less than 2,25,000
Nil
2,25,000 to 3,00,000
(TI – 2,25,000) * 10%
3,00,000 to 5,00,000
7,500 + (TI – 3,00,000) * 20%
Greater than 5,00,000
47,500 + (TI – 5,00,000) * 30%
Income Tax Rates/Slabs for A.Y. (2008-09)
Slab (Rs.)
Tax (Rs.)
Surcharge on Income Tax
(if TI > Rs.10 Lakhs)
less than 1,10,000
Nil
Nil
1,10,000 to 1,50,000
(TI – 1,10,000) * 10%
10%
1,50,000 to 2,50,000
4,000 + (TI – 1,50,000) * 20%
10%
Greater than 2,50,000
24,000 + (TI – 2,50,000) * 30%
10%
Women aged 65 years or less
Slab (Rs.)
Tax (Rs.)
Surcharge on Income Tax (if
TI > Rs.10 Lakhs) (Rs.)
less than 1,45,000
Nil
Nil
1,45,000 to 1,50,000
(TI – 1,45,000) * 10%
10%
1,50,000 to 2,50,000
500 + (TI – 1,50,000) * 20%
10%
Greater than 2,50,000
20,500 + (TI – 2,50,000) * 30%
10%
Senior Citizens (Individuals aged above 65 years)
Slab (Rs.)
Tax (Rs.)
Surcharge on Income Tax (if
TI > Rs.10 Lakhs) (Rs.)
less than 1,95,000
Nil
Nil
1,95,000 to 2,50,000
(TI – 1,95,000)
* 20%
10%
Greater than 2,50,000
11,000 + (TI – 2,50,000) * 30%
10%
Education Cess has to be added on Income-tax and Surcharge
@ 2% from AY 2004-05 and 3% from AY 2007-08
Income Tax Rates/Slabs for A.Y. (2006-07 & 2007-08)
Slab (Rs.)
Tax (Rs.)
Surcharge on Income Tax
(if TI > Rs.10 Lakhs)
less than 1,00,000
Nil
Nil
1,00,000 to 1,50,000
(TI – 1,00,000) * 10%
10%
1,50,000 to 2,50,000
5,000 + (TI – 1,50,000) * 20%
10%
Greater than 2,50,000
25,000 + (TI – 2,50,000) * 30%
10%
Women aged 65 years or less
Slab (Rs.)
Tax (Rs.)
Surcharge on Income Tax (if
TI > Rs.10 Lakhs) (Rs.)
less than 1,35,000
Nil
Nil
1,35,000 to 1,50,000
(TI – 1,35,000) * 10%
10%
1,50,000 to 2,50,000
1,500 + (TI – 1,50,000) * 20%
10%
Greater than 2,50,000
21,500 + (TI – 2,50,000) * 30%
10%
Senior Citizens (Individuals aged above 65 years)
Slab (Rs.)
Tax (Rs.)
Surcharge on Income Tax (if
TI > Rs.10 Lakhs) (Rs.)
less than 1,85,000
Nil
Nil
1,85,000 to 2,50,000
(TI – 1,85,000) * 20%
10%
Greater than 2,50,000
13,000 + (TI – 2,50,000) * 30%
10%
Income Tax Rates/Slabs for A.Y. (2004-05 & 2005-06)
Slab (Rs.)
Tax (Rs.)
Surcharge on Income Tax
(If TI > Rs.8.50 Lakhs) (Rs.)
less than 50,000
Nil
Nil
50,000 to 60,000
(TI – 50,000) * 10%
10%
60,000 to 1,50,000
1,000 + (TI – 60,000) * 20%
10%
Greater than 1,50,000
19,000 + (TI – 1,50,000) * 30%
10%
Income Tax Rates/Slabs for A.Y. (2003-04)
Slab (Rs.)
Tax (Rs.)
Surcharge on Income Tax
(If TI > Rs.60,000) (Rs.)
Less than 50,000
Nil
Nil
50,000 to 60,000
(TI – 50,000) * 10%
5%
60,000 to 1,50,000
1,000 + (TI – 60,000) * 20%
5%
Greater than 1,50,000
19,000 + (TI – 1,50,000) * 30%
5%
Income Tax Rates/Slabs for A.Y. (2002-03)
Slab (Rs.)
Tax (Rs.)
Surcharge on Income Tax
(If TI > Rs.60,000)
Less than 50,000
Nil
Nil
50,000 to 60,000
(TI – 50,000) * 10%
2%
60,000 to 1,50,000
1,000 + (TI – 60,000) * 20%
2%
Greater than 1,50,000
19,000 + (TI – 1,50,000) * 30%
2%
Income Tax Rates/Slabs for A.Y. (2001-02)
Slab (Rs.)
Tax (Rs.)
Surcharge
TI > 60,000
Surcharge
TI > 1,50,000
Less than 50,000
Nil
Nil
Nil
50,000 to 60,000
(TI – 50,000) * 10%
12%
17%
60,000 to 1,50,000
1,000 + (TI – 60,000) * 20%
12%
17%
Greater than 1,50,000
19,000 + (TI – 1,50,000) * 30%
12%
17%
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Ads by Google by Rajesh Goyal
************
The following INCOME TAX RATES ARE applicable for the Financial Year ending March 31, 2016 (i.e. Financial Year 2015-16) - Assessment Year 2016-17)
Every year the income tax rates are changed and it is important to get the latest income tax rates. We give below the Income Tax Rates and Slabs applicable for the FY 2015-16 or AY 2016-17. [As there was no change in Income Tax slabs for FY 2015-16 (i.e. AY 2016-17), the following rates were also applicable for FY 2014-15 (AY 2015-16)
* A tax rebate of Rs 2,000 from tax calculated will be available for people having an annual income upto Rs 5 lakh. However, this benefit of Rs2,000 tax credit will not be available if you cross the income range of Rs 5 lakh. Thus we can say that tax payable in 10% slab will be maximum Rs23,000 (taking into account Rs 2000 tax credit), but for people who fall in income range of Rs5 lakh and above, the tax will be Rs25,000 + 20% tax on income above Rs 5 lakh; The education cess to continue at 3 percent. ** The Surcharge @ 12% for the FY 2015-16 or AS 2016-17 will be payable if the income is above Rs 1 crores). For the FY 2014-15 it was 10% .
The following income tax RATES WERE applicable for the Financial Year ending March 31, 2013 (Financial Year 2012-13)-Assessment Year 2013-14):
The following tax rates WERE applicable for the Financial Year ending March 31, 2012 (Financial Year 2011-12)-Assessment Year 2012-13):
Ads by Google
Click Here to View the Latest Income Tax Rate Slabs / Rates :
We give below the Income Tax Slabs / Income Tax Rates for various years for reference :
Income Tax Rates/Slabs for A.Y. (2011-12)
Women aged 65 years or less
Senior Citizens (Individuals aged above 65 years)
Income Tax Rates/Slabs for A.Y. (2010-11)
Women aged 65 years or less
Senior Citizens (Individuals aged above 65 years)
Income Tax Rates/Slabs for A.Y. (2009-10)
Women aged 65 years or less
Senior Citizens (Individuals aged above 65 years)
Income Tax Rates/Slabs for A.Y. (2008-09)
Women aged 65 years or less
Senior Citizens (Individuals aged above 65 years)
Education Cess has to be added on Income-tax and Surcharge @ 2% from AY 2004-05 and 3% from AY 2007-08 Income Tax Rates/Slabs for A.Y. (2006-07 & 2007-08)
Women aged 65 years or less
Senior Citizens (Individuals aged above 65 years)
Income Tax Rates/Slabs for A.Y. (2004-05 & 2005-06)
Income Tax Rates/Slabs for A.Y. (2003-04)
Income Tax Rates/Slabs for A.Y. (2002-03)
Income Tax Rates/Slabs for A.Y. (2001-02)
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