INCOME TAX SLAB AND RATES FOR FY 2014-15 (AY 2015-16)

INDIVIDUAL – MALE (AGE LESS THAN 60 YEARS)
Upto Rs. 2, 50,000 Nil
Rs. 2,50,001 to Rs. 5,00,000 10%
Rs. 5,00,001 to Rs. 10,00,000 20%
Above Rs. 10,00,000 30%
+ SURCHARGE AT 10% IF NET INCOME EXCEEDS Rs.1 CRORE
+ EDUCATION CESS AND SECONDARY & HIGHER EDUCATION CESS AT 3% OF INCOME TAX & SURCHARGE


INDIVIDUAL – FEMALE (AGE LESS THAN 60 YEARS)
Upto Rs. 2, 50,000 Nil
Rs. 2,50,001 to Rs. 5,00,000 10%
Rs. 5,00,001 to Rs. 10,00,000 20%

Above Rs. 10,00,000 30%
+ SURCHARGE AT 10% IF NET INCOME EXCEEDS Rs.1 CRORE
+ EDUCATION CESS AND SECONDARY & HIGHER EDUCATION CESS AT 3% OF INCOME TAX & SURCHARGE


SENIOR CITIZEN (Age between 60 Years to 80 Years)
Upto Rs. 3,00,000 Nil
Rs.3,00,001 to Rs. 5,00,000 10%
Rs. 5,00,001 to Rs.10,00,000 20%
Above Rs. 10,00,000 30%
+ SURCHARGE AT 10% IF NET INCOME EXCEEDS Rs.1 CRORE
+ EDUCATION CESS AND SECONDARY & HIGHER EDUCATION CESS AT 3% OF INCOME TAX & SURCHARGE


SUPER SENIOR CITIZEN (Age ABOVE 80 YEARS)
Upto Rs. 5,00,000 Nil
Rs. 5,00,001 to Rs. 10,00,000 20%
Above Rs. 10,00,000 30%
+ SURCHARGE AT 10% IF NET INCOME EXCEEDS Rs.1 CRORE
+ EDUCATION CESS AND SECONDARY & HIGHER EDUCATION CESS AT 3% OF INCOME TAX & SURCHARGE