Income tax Slab Rate for individual

Last updated at April 16, 2024 by

INCOME TAX
UPTO 250000 Nil
250000-500000 10% of Income Greater than 250000
500000-1000000 20% of Income Greater than 500000+25000
>1000000 30% of Income Greater than 500000+125000

(Applicable for ITR of Financial Year 2016-17 (AY 2017-18)
(Applicable for Payroll till 31 March 2017)

Note:- For Senior Citizens (60 years -80 Years),Upto 300000 exempt

Note:- For Super Senior Citizens (80 years or above),Upto 500000 exempt

Rebates

Rebate of Max 2000 5000 if Income between 250000-500000 (New Amendment)

Surcharge

if Income More than 1 Crores,then 15% Surcharge

 

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CA Maninder Singh

CA Maninder Singh is a Chartered Accountant for the past 14 years. He also provides Accounts Tax GST Training in Delhi, Kerala and online.