Income tax slab rates are reviewed by the government in Budget every year. But the tax slabs have not been changed for the last few years. Here is a primer on income tax slab rates for AY 2016-17 (FY 2015-16).
Knowing your income tax slab rate helps you get an idea of how much tax you will be paying in a year.
Individuals with taxable income below Rs 5,00,000 are allowed to claim a tax rebate of Rs 5,000 on tax payable from FY 2016-17. The limit was raised in Budget 2016 from Rs 2,000.
Super-rich individuals with an annual taxable income of over Rs 1 crore have to pay surcharge of 15 per cent. In Budget 2016, this limit was raised from 12 per cent.
Education Cess (EC) of 2 per cent and secondary and higher education cess (SHEC) of 1 per cent is levied on the tax payable.
Income Tax Slab Rates For individuals Below 60 Years Of Age:
Income tax slab rates are reviewed by the government in Budget every year. But the tax slabs have not been changed for the last few years. Here is a primer on income tax slab rates for AY 2016-17 (FY 2015-16).
Knowing your income tax slab rate helps you get an idea of how much tax you will be paying in a year.
Individuals with taxable income below Rs 5,00,000 are allowed to claim a tax rebate of Rs 5,000 on tax payable from FY 2016-17. The limit was raised in Budget 2016 from Rs 2,000.
Super-rich individuals with an annual taxable income of over Rs 1 crore have to pay surcharge of 15 per cent. In Budget 2016, this limit was raised from 12 per cent.
Education Cess (EC) of 2 per cent and secondary and higher education cess (SHEC) of 1 per cent is levied on the tax payable.
Income Tax Slab Rates For individuals Below 60 Years Of Age:
Income tax slab rates are reviewed by the government in Budget every year. But the tax slabs have not been changed for the last few years. Here is a primer on income tax slab rates for AY 2016-17 (FY 2015-16).
Knowing your income tax slab rate helps you get an idea of how much tax you will be paying in a year.
Individuals with taxable income below Rs 5,00,000 are allowed to claim a tax rebate of Rs 5,000 on tax payable from FY 2016-17. The limit was raised in Budget 2016 from Rs 2,000.
Super-rich individuals with an annual taxable income of over Rs 1 crore have to pay surcharge of 15 per cent. In Budget 2016, this limit was raised from 12 per cent.
Education Cess (EC) of 2 per cent and secondary and higher education cess (SHEC) of 1 per cent is levied on the tax payable.
Income Tax Slab Rates For individuals Below 60 Years Of Age:
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