Income Tax Slabs for Financial Year (FY) 2015-16

 

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.

• Income Tax Rates for taxpayers less than 60 years old

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. source: https://cleartax.in/Guide/income-tax-slabs