Income Tax Slab Rates for the F.Y. 2016-17

Income Tax Slabs for Individual below the age of 60 years

(HUF, AOP, BOI , artificial juridical person)

Income Slabs Tax Rates
Income up to Rs 2,50,000 No Tax (Nil)
Income from Rs 2,50,000 – Rs 5,00,000 10% 
Income from Rs 5,00,000 – 10,00,000 20% 
Income more than Rs 10,00,000 30%

Surcharge: 15% surcharge on income tax if the total income exceeds Rs 1 crore
Education Cess: 2% cess on income tax including surcharge
Secondary and Higher Education Cess: 1% cess on income tax including surcharge
Rebate under Section 87A: Rs 5,000 or 100% of income tax (whichever is lower) for individuals with income below Rs 5 Lakhs


Income Tax Slabs for Senior Citizens

60 years or more but less than 80 years) 

Income Slabs Tax Rates
Income up to Rs 3,00,000 No Tax (Nil)
Income from Rs 3,00,000 – Rs 5,00,000 10% 
Income from Rs 5,00,000 – 10,00,000 20% 
Income more than Rs 10,00,000 30%

Surcharge: 15% surcharge on income tax if the total income exceeds Rs 1 crore
Education Cess: 2% cess on income tax including surcharge
Secondary and Higher Education Cess: 1% cess on income tax including surcharge
Rebate under Section 87A: Rs 5,000 or 100% of income tax (whichever is lower) for individuals with income below Rs 5 Lakhs.

Income Tax Slabs for Super Senior Citizens

( age eighty years or more)

Income Slabs Tax Rates
Income up to Rs 5,00,000 No Tax (Nil)
Income from Rs 5,00,000 – Rs 10,00,000 20% 
Income more than Rs 10,00,000 30%

Surcharge: 15% surcharge on income tax if the total income exceeds Rs 1 crore
Education Cess: 2% cess on income tax including surcharge
Secondary and Higher Education Cess: 1% cess on income tax including surcharge
Rebate under Section 87A: Rs 5,000 or 100% of income tax (whichever is lower) for individuals with income below Rs 5 Lakhs


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