Taxable income slab (Rs.) Rate (%)
1,10,000 (individuals other than women/senior citizens) NIL
1,45,000 (for women) NIL
1,85,000 (for senior citizens) NIL
1,10,001 - 1,50,000 10%
1,50,001 - 2,50,000 20%
2,50,001 upwards 30%
10,00,000 upwards 30%*
* A surcharge of 10% on income tax is levied where taxable income exceeds Rs. 1 million which makes it effective 33% including surcharge
For individuals resident woman {not being a senior citizen (who is of 65 years or more at anytime during the previous year)}
Net income range income tax rate
- Upto 145000 nil
- 145000 to 150000 10% of (TI-145000) + 3% education cess
- 150000 to 250000 500+20% of (TI-150000) +3% education cess
- 250000 to 1000000 20500+30% of (TI- 250000) +3% education cess
- above 1000000 245500+30%of (TI-1000000) +10% of income tax Surcharge + 3% of income tax and surcharge
For resident senior citizen (who is of 65 years or more at anytime during the previous year)
- upto 195000 nil
- 195001 to 250000 20% of (TI-195000)+3% edu cess
- 250001 to 1000000 11000+30% of (TI- 250000)+3% edu cess
- above 1000000 236000+30% of (TI- 1000000)+10% sc +3% edu cess
For any other individual, every HUF/AOP/BOI/Artificial juridical person
- upto 110000 nil
- 110000 to 150000 10%of (TI - 110000)+3% ec
- 150001 to 250000 4000+20% of (TI-150000)+3% ec
- 250001 to 1000000 24000+30% of(TI- 250000)+3%ec
- above 1000000 249000+30% of (TI-1000000)+10% sc+3%ec
* ec Education Cess
* sc Surcharge
* TI Toal Income
Individuals-other than senior citizens and ladies
- Up to 110000- No Tax
- 110001 to 150000-10%
- 150001to250000-20%
- 250001and above-30%
- Ladies other than Senior Citizens
- Up to 145000-No Tax
- 145001 to 150000-10%
- 150001to250000-20%
- 250001and above-30%
- Senior Citizens
- Up to 195000-No tax
- 195001to250000-20%
- 250001and above-30%
- Investment u/s 80C eligible for deduction from income-Rs.100000
