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Income Tax Slab [A.Y. 2016-17] and [A.Y. 2015-16]

If you are searching for the income tax slab or income tax rates for A.Y. 2016-17, A.Y. 2015-16  & A.Y. 2014-15 then you are on right place as we are going to list here income tax slab in a very simple manner. So that every layman can understand and calculate income tax in a very easy way even you will enjoy to find out other persons income tax.

income-tax-slab-ay2015-16-and-ay-2016-17

Comparison of Income Tax Slab Between A.Y.2016-17 & A.Y.2015-16

1) Individual Resident Aged Below 60 Years

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Income Slabs Income Tax Slab A.Y.2016-17 Income Tax Slab A.Y.2015-16
Upto Rs.2,50,000/- NIL NIL No diff
From Rs.2,50,001/- to Rs.5,00,000/- 10% 10% NoDiff
From Rs.5,00,001/- to Rs.10,00,000/- Rs. 25,000 + 20% of taxable income above Rs. 5 Lacs Rs. 25,000 + 20% of taxable income above Rs. 5 Lacs No Diff
Exceeding Rs.10,00,000/– Rs. 1,25,000 + 30% of taxable income above Rs. 10 Lacs Rs. 1,25,000 + 30% of taxable income above Rs. 10 Lacs No Diff
Surcharge 12% of Income Tax, if Taxable Income More than Rs.1 Crore 10% of Income Tax, if Taxable Income More than Rs.1 Core 2% diff in Surcharge
Education Cess 3% of (Income Tax + Surcharge) 3% of (Income Tax + Surcharge) No Diff
Tax Credit U/s 87A – 10% of taxable income upto a maximum of Rs.2000/- for taxable income not exceeding Rs. 5 lacs

2) Individual Resident Age of 60 Years or More But Below The Age of 80 Years

Income Slabs Income Tax Slab A.Y.2016-17 Income Tax Slab A.Y.2015-16
Upto Rs.3,00,000/- NIL NIL No diff
From Rs.3,00,001/- to Rs.5,00,000/- 10% 10% NoDiff
From Rs.5,00,001/- to Rs.10,00,000/- Rs. 20,000 + 20% of taxable income above Rs. 5 Lacs Rs. 20,000 + 20% of taxable income above Rs. 5 Lacs No Diff
Exceeding Rs.10,00,000/– Rs. 1,20,000 + 30% of taxable income above Rs. 10 Lacs Rs. 1,20,000 + 30% of taxable income above Rs. 10 Lacs No Diff
Surcharge 12% of Income Tax, if Taxable Income More than Rs.1 Crore 10% of Income Tax, if Taxable Income More than Rs.1 Core 2% diff in Surcharge
Education Cess 3% of (Income Tax + Surcharge) 3% of (Income Tax + Surcharge) No Diff
Tax Credit U/s 87A – 10% of taxable income upto a maximum of Rs.2000/- for taxable income not exceeding Rs. 5 lacs

3) Individual Resident Age of 80 Years or More 

Income Slabs Income Tax Slab A.Y.2016-17 Income Tax Slab A.Y.2015-16
Upto Rs.5,00,000/- NIL NIL No diff
From Rs.5,00,001/- to Rs.10,00,000/- 20% of taxable income above Rs. 5 Lacs 20% of taxable income above Rs. 5 Lacs No Diff
Exceeding Rs.10,00,000/– Rs. 1,00,000 + 30% of taxable income above Rs. 10 Lacs Rs. 1,00,000 + 30% of taxable income above Rs. 10 Lacs No Diff
Surcharge 12% of Income Tax, if Taxable Income More than Rs.1 Crore 10% of Income Tax, if Taxable Income More than Rs.1 Core 2% diff in Surcharge
Education Cess 3% of (Income Tax + Surcharge) 3% of (Income Tax + Surcharge) No Diff
Tax Credit U/s 87A – 10% of taxable income upto a maximum of Rs.2000/- for taxable income not exceeding Rs. 5 lacs

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