Tax slabs have not changed since financial year FY 2014-15 (assessment year AY 2015-16). Income tax slab rates are same for these 3 financial years – FY 2014-15, FY 2015-16 and FY 2016-17 and Tax Slabs are same for both Men and Women.
For Men and Women Below 60 Years Of Age
| Income Tax Slab | Income Tax Rate |
| Income upto Rs. 2,50,000 | Nil |
| Income between Rs. 2,50,001 – Rs. 500,000 | 10% of Income exceeding Rs. 2,50,000 |
| Income between Rs. 500,001 – Rs. 10,00,000 | 20% of Income exceeding Rs. 5,00,000 |
| Income above Rs. 10,00,000 | 30% of Income exceeding Rs. 10,00,000 |
Education cess @ 3 % ( on total tax computed ) will be added to derive the Final Income Tax that you ultimately pay.
For Senior Citizens (Age 60 years or more but less than 80 years)
| Income Tax Slab | Income Tax Rate |
| Income upto Rs. 3,00,000 | Nil |
| Income between Rs. 3,00,001 – Rs. 500,000 | 10% of Income exceeding Rs. 3,00,000 |
| Income between Rs. 500,001 – Rs. 10,00,000 | 20% of Income exceeding Rs. 5,00,000 |
| Income above Rs. 10,00,000 | 30% of Income exceeding Rs. 10,00,000 |
Education cess @ 3 % ( on total tax computed ) will be added to derive the Final Income Tax that you ultimately pay.
For Senior Citizens (Age 80 years or more)
| Income Tax Slab | Income Tax Rate |
| Income upto Rs. 5,00,000 | Nil |
| Income between Rs. 500,001 – Rs. 10,00,000 | 20% of Income exceeding Rs. 5,00,000 |
| Income above Rs. 10,00,000 | 30% of Income exceeding Rs. 10,00,000 |
Education cess @ 3 % ( on total tax computed ) will be added to derive the Final Income Tax that you ultimately pay.
Note : There are no more separate income tax slabs for men and women. The slabs mentioned here are equal to both men and women.
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