NFPE VRIDDHACHALAM DIVISION

Monday, December 21, 2015

FY 2015-16 tax rate applies to income earned between 1st April 2015 and 31st March 2016. Income Tax rates for individuals are same for FY 2015-16 and FY 2014-15.

Tax Slab
FY 2015-16 & FY 2014-15
Tax Rate
Tax Slab
FY 2013-14
Tax Rate
Up to Rs.2,50,000
No Tax
Up to Rs.2,00,000
No Tax
Rs.2,50,000 - Rs.5,00,000
10%
Rs.2,00,000 - Rs.5,00,000
10%
Rs.5,00,000 - Rs.10,00,000
20%
Rs.5,00,000 - Rs.10,00,000
20%
Rs.10,00,000 and beyond
30%
Rs.10,00,000 and beyond
30%
Surcharge: 10% of the Income Tax, where total income exceeds Rs.1 crore.
Education cess: 3% on sum of total income tax and surcharge.

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