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Tax Information
Every year with Government budget, the most common expectation an Indian citizen has is of ‘change for better’ in the Income tax slab. So to plan your investment strategy and understand how much tax liability you will incur this year let’s have a look at the tax structure for different categories. These categories are created by the Government of India for taxation purposes, and they are based on Gender and Age.
  • Financial Year 2017-2018
  • Financial Year 2016-2017
  • Financial Year 2015-2016
Proposed Income tax slabs 2017-2018 for Individuals & HUF
Income tax slab (in Rs.) Tax percentage Education Cess Surcharge
0 to 250000 Nil Nil Nil
250001 to 350000 5%* 3% Nil
250001 to 500000 5% 3% Nil
500001 to 1000000 20% 3% Nil
1000001 to 5000000 30% 3% Nil
5000001 to 10000000 30% 3% 10%
10000001 & Above 30% 3% 15%
* U/S 87A, Tax rebate of Rs 2,500 for individuals with income of up to Rs 3.5 Lakh has been proposed
Proposed Income tax slabs 2017-2018 - for Senior citizens (Aged 60 years but less than 80 years)
Income tax slab (in Rs.) Tax percentage Education Cess Surcharge
0 to 300000 Nil Nil Nil
300001 to 350000 5%* Nil Nil
300001 to 500000 5% Nil Nil
500000 to 1000000 20% Nil Nil
1000001 to 5000000 30% 3% Nil
5000001 to 10000000 30% 3% 10%
10000001 & Above 30% 3% 15%
* U/S 87A, Tax rebate of Rs 2,500 for individuals with income of up to Rs 3.5 Lakh has been proposed
Proposed Income tax slabs 2017-2018 - for Very Senior citizens (Above 80 years)
Income tax slab (in Rs.) Tax percentage Education Cess Surcharge
0 to 500000 Nil Nil Nil
500001 to 1000000 20% Nil Nil
1000001 to 5000000 30% 3% Nil
5000001 to 10000000 30% 3% 10%
10000001 & Above 30% 3% 15%
Surcharge: If the total income exceeds Rs 50 Lakhs but below Rs 1 crore, a surcharge of 10% will be levied. 15% surcharge on income tax if the total income is over and above Rs 1 cr
India Income tax slabs 2016-2017 for General tax payers and Women
S. No. Income tax slab (in Rs.) Tax percentage
1 0 to 2,50,000 No tax
2 2,50,001 to 5,00,000 10%
3 5,00,001 to 10,00,000 20%
4 Above 10,00,000 30%
India Income tax slabs 2016-2017 - for Senior citizens (Aged 60 years but less than 80 years)
S. No. Income tax slab (in Rs.) Tax percentage
1 0 to 3,00,000 No tax
2 3,00,001 to 5,00,000 10%
3 5,00,001 to 10,00,000 20%
4 Above 10,00,000 30%
India Income tax slabs 2016-2017 - for Very Senior citizens (Above 80 years)
S. No. Income tax slab (in Rs.) Tax percentage
1 0 to 5,00,000 No tax
2 5,00,001 to 10,00,000 20%
3 Above 10,00,000 30%
India Income tax slabs 2015-2016 for General tax payers and Women
S. No. Income tax slab (in Rs.) Tax percentage
1 0 to 2,50,000 No tax
2 2,50,001 to 5,00,000 10%
3 5,00,001 to 10,00,000 20%
4 Above 10,00,000 30%
India Income tax slabs 2015-2016 - for Senior citizens (Aged 60 years but less than 80 years)
S. No. Income tax slab (in Rs.) Tax percentage
1 0 to 3,00,000 No tax
2 3,00,001 to 5,00,000 10%
3 5,00,001 to 10,00,000 20%
4 Above 10,00,000 30%
India Income tax slabs 2015-2016 - for Very Senior citizens (Above 80 years)
S. No. Income tax slab (in Rs.) Tax percentage
1 0 to 5,00,000 No tax
2 5,00,001 to 10,00,000 20%
3 Above 10,00,000 30%

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