Your Indian Income Tax Slab for A.Y. 2015-16 (F.Y. 2014-15) – Individuals


  1. For Assessees up to the age of 60 years:
    Income up to 2.5 lakhs – No tax
    Income from 2.5 lakhs to 5 lakhs – 10% on income above 2.5 lakhs
    Income from 5 lakhs to 10 lakhs -Rs.25000 plus 20% on income above 5 lakhs
    Income above 10 lakhs – Rs. 1,25,000 plus 30% on income above 10 lakhs
    Surcharge on income tax will be applicable @10% when total taxable income is over one crore.
    3% Education cess will be applicable on income tax and Surcharge.
  2. For Assessees above the age of 60 years but below 80 years:
    Income up to 3 lakhs – No tax
    Income from 3 lakhs to 5 lakhs – 10% on income above 3 lakhs
    Income from 5 lakhs to 10 lakhs -Rs.20000 plus 20% on income above 5 lakhs
    Income above 10 lakhs – Rs. 1,20,000 plus 30% on income above 10 lakhs
    Surcharge on income tax will be applicable @10% when total taxable income is over one crore.
    3% Education cess will be applicable on income tax and Surcharge.
  3. For Assessees over 80 years:
    Income up to 5 lakhs – No tax
    Income from 5 lakhs to 10 lakhs – 20% on income above 5 lakhs
    Income above 10 lakhs – Rs. 1,00,000 plus 30% on income above 10 lakhs
    Surcharge on income tax will be applicable @10% when total taxable income is over one crore.
    3% Education cess will be applicable on income tax and Surcharge.
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2 thoughts on “Your Indian Income Tax Slab for A.Y. 2015-16 (F.Y. 2014-15) – Individuals

  1. Nice information.Sir 60 years means if one attains the age of 60 in the middle of the financial year , he will treated as above 60 or below 60 for tax purposes – say 14-15 one attains the age of 60 in June means , under which category he is coming.Thanks

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