FY 2014 - 15: Income Tax Slab for Individuals

 FINANCIAL YEAR (FY) 2014 - 15 (ASSESSMENT YEAR 2015-16)

Tax Slab for an Individual (resident & below 60 years) or HUF/ AOP / BOI / AJP

Income Slabs(Rs)	Tax Rates (%)
Total income up to  Rs. 2.5 Lakh	0% Tax
Total income above Rs. 2.5 Lakh and below Rs.5 Lakh	10% on amount exceeding Rs. 2.5 Lakh
Total income above Rs. 5 Lakh  and below Rs.10 Lac	20% on Income exceeding Rs. 5 Lakh + Rs. 30,000
Total income more than Rs. 10 Lakh	30% on Income exceeding Rs. 10 Lakh + Rs. 1,30,000

Where the Taxable Income exceeds Rs.1 crore, Surcharge at 10% of Income tax is applicable.  The amount of Income-tax shall be increased by Education Cess of 3% on Income-tax.

 Tax Slab for an Individual (resident & above 60 years but below 80 years)

Income Slabs (Rs)	Tax Rates (%)
Total income up to Rs. 3 Lakh	0% Tax
Total income above Rs. 3 Lakh and below Rs.5 Lac	10% on amount exceeding Rs. 3 Lakh
Total income above Rs. 5 Lakh and below Rs.10 Lakh	20% on Income exceeding Rs. 5 Lakh + Rs. 25,000
Total income more than Rs. 10 Lakh	30% on Income exceeding Rs. 10 Lakh + Rs. 1.25 Lakh

Where the Taxable Income exceeds Rs.1 crore, Surcharge at 10% of Income tax is applicable. The amount of Income-tax shall be increased by Education Cess of 3% on Income-tax

Tax Slab for an Individual (Resident and above 80 years)

Income Slabs (Rs)	Tax Rates (%)
Total income up to Rs. 5 Lakh	0% Tax
Total income above Rs. 5 Lakh and below Rs.10 Lakh	20% on Income exceeding Rs. 5 Lakh
Total income more than Rs. 10 Lakh	30% on Income exceeding Rs. 10 Lakh + Rs. 1 Lakh

Where the Taxable Income exceeds Rs.1 crore, Surcharge at 10% of Income tax is applicable. The amount of Income-tax shall be increased by Education Cess of 3% on Income-tax

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