IT Slabs from FY 2008-09 to FY 2015-16

Personal Income Tax Rates for the Financial Year 2008-2009 and Assessment Year 2009-2010 New Delhi (Delhi, India), November 17, 2015 Indian Government Ups Basic Personal Income Tax Exemption Limit from Rs. 110,000 to Rs. 150,000 The Government of India has increased the basic personal income tax exemption limit from Rs. 110,000 to Rs. 150,000 for the Financial Year 2008-2009 and Assessment Year 2009- 2010. The new income tax rates or Income tax slabs are applicable for the incomes earned or generated from April 01, 2008 to March 31, 2009. Mr. Palaniappan Chidambaram, the Finance Minister of India, announced the new personal income tax slab rates while presenting the Union Budget of India, also called the Indian General Budget, on Friday, February 29, 2008 in New Delhi. Here are the personal income tax slab rates for calculating your income tax for the Financial Year 2008-2009 (Assessment Year 2009-2010). Income Tax Slabs for the Individual Male (Below 65 Years Age) for the Assessment Year 2009-2010 Sl No. Income Tax Slab Income Tax Rate Payable 1. Rs. 0 to 150,000 No Income Tax 2. Rs. 150,001 to 300,000 10% 3. Rs. 300,001 to 500,000 20% 4. Rs. 500,001 and above 30% Income Tax Slabs for the Individual Female (Below 65 Years Age) for the Assessment Year 2009-2010 Sl No. Income Tax Slab Income Tax Rate Payable 1. Rs. 0 to 180,000 No Income Tax 2. Rs. 180,001 to 300,000 10% 3. Rs. 300,001 to 500,000 20% 4. Rs. 500,001 and above 30% Income Tax Slabs for the Senior Citizen (Above 65 Years Age) for the Assessment Year 2009-2010 Sl No. Income Tax Slab Income Tax Rate Payable 1. Rs. 0 to 225,000 No Income Tax 2. Rs. 225,001 to 300,000 10% 3. Rs. 300,001 to 500,000 20% 4. Rs. 500,001 and above 30% Personal Income Tax Rates for the Financial Year 2009-2010 and Assessment Year 2010-2011 New Delhi (Delhi, India), November 17, 2015 Indian Government Ups Basic Personal Income Tax Exemption Limit from Rs. 150,000 to Rs. 160,000 The Government of India has increased the basic personal income tax exemption limit from Rs. 150,000 to Rs. 160,000 for the Financial Year 2009-2010 and Assessment Year 2010- 2011. The new income tax rates or Income tax slabs are applicable for the incomes earned or generated from April 01, 2009 to March 31, 2010. Mr. Pranab Mukherjee, the Finance Minister of India, announced the new personal income tax slab rates while presenting the Union Budget of India, also called the Indian General Budget, on Monday, July 06, 2009 in New Delhi. Here are the personal income tax slab rates for calculating your income tax for the Financial Year 2009-2010 (Assessment Year 2010-2011). Income Tax Slabs for the Individual Male (Below 65 Years Age) for the Assessment Year 2010-2011 Sl No. Income Tax Slab Income Tax Rate Payable 1. Rs. 0 to 160,000 No Income Tax 2. Rs. 160,001 to 300,000 10% 3. Rs. 300,001 to 500,000 20% 4. Rs. 500,001 and above 30% Income Tax Slabs for the Individual Female (Below 65 Years Age) for the Assessment Year 2010-2011 Sl No. Income Tax Slab Income Tax Rate Payable 1. Rs. 0 to 190,000 No Income Tax 2. Rs. 190,001 to 300,000 10% 3. Rs. 300,001 to 500,000 20% 4. Rs. 500,001 and above 30% Income Tax Slabs for the Senior Citizen (Above 65 Years Age) for the Assessment Year 2010-2011 Sl No. Income Tax Slab Income Tax Rate Payable 1. Rs. 0 to 240,000 No Income Tax 2. Rs. 240,001 to 300,000 10% 3. Rs. 300,001 to 500,000 20% 4. Rs. 500,001 and above 30% Personal Income Tax Rates for the Financial Year 2010-2011 and Assessment Year 2011-2012 New Delhi (Delhi, India), November 17, 2015 Indian Government Ups Basic Personal Income Tax Exemption Limit from Rs. 160,000 to Rs. 160,000 The Government of India has increased the basic personal income tax exemption limit from Rs. 160,000 to Rs. 160,000 for the Financial Year 2010-2011 and Assessment Year 2011- 2012. The new income tax rates or Income tax slabs are applicable for the incomes earned or generated from April 01, 2010 to March 31, 2011. Mr. Pranab Mukherjee, the Finance Minister of India, announced the new personal income tax slab rates while presenting the Union Budget of India, also called the Indian General Budget, on Friday, February 26, 2010 in New Delhi. Here are the personal income tax slab rates for calculating your income tax for the Financial Year 2010-2011 (Assessment Year 2011-2012). Income Tax Slabs for the Individual Male (Below 65 Years Age) for the Assessment Year 2011-2012 Sl No. Income Tax Slab Income Tax Rate Payable 1. Rs. 0 to 160,000 No Income Tax 2. Rs. 160,001 to 500,000 10% 3. Rs. 500,001 to 800,000 20% 4. Rs. 800,001 and above 30% Income Tax Slabs for the Individual Female (Below 65 Years Age) for the Assessment Year 2011-2012 Sl No. Income Tax Slab Income Tax Rate Payable 1. Rs. 0 to 190,000 No Income Tax 2. Rs. 190,001 to 500,000 10% 3. Rs. 500,001 to 800,000 20% 4. Rs. 800,001 and above 30% Income Tax Slabs for the Senior Citizen (Above 65 Years Age) for the Assessment Year 2011-2012 Sl No. Income Tax Slab Income Tax Rate Payable 1. Rs. 0 to 240,000 No Income Tax 2. Rs. 240,001 to 500,000 10% 3. Rs. 500,001 to 800,000 20% 4. Rs. 800,001 and above 30% Personal Income Tax Rates for the Financial Year 2011-2012 and Assessment Year 2012-2013 New Delhi (Delhi, India), November 17, 2015 Indian Government Ups Basic Personal Income Tax Exemption Limit from Rs. 160,000 to Rs. 180,000 The Government of India has increased the basic personal income tax exemption limit from Rs. 160,000 to Rs. 180,000 for the Financial Year 2011-2012 and Assessment Year 2012- 2013. The new income tax rates or Income tax slabs are applicable for the incomes earned or generated from April 01, 2011 to March 31, 2012. Mr. Pranab Mukherjee, the Finance Minister of India, announced the new personal income tax slab rates while presenting the Union Budget of India, also called the Indian General Budget, on Monday, February 28, 2011 in New Delhi. The Indian Government also reduced the age eligibility criteria for senior citizenship from existing 65 years to 60 years. Also, a new category called ‘Very Senior Citizen’ has been added for the people above the age of 80 years. Here are the personal income tax slab rates for calculating your income tax for the Financial Year 2011-2012 (Assessment Year 2012-2013). Income Tax Slabs for the Individual Male (Below 60 Years Age) for the Assessment Year 2012-2013 Sl No. Income Tax Slab Income Tax Rate Payable 1. Rs. 0 to 180,000 No Income Tax 2. Rs. 180,001 to 500,000 10% 3. Rs. 500,001 to 800,000 20% 4. Rs. 800,001 and above 30% Income Tax Slabs for the Individual Female (Below 60 Years Age) for the Assessment Year 2012-2013 Sl No. Income Tax Slab Income Tax Rate Payable 1. Rs. 0 to 190,000 No Income Tax 2. Rs. 190,001 to 500,000 10% 3. Rs. 500,001 to 800,000 20% 4. Rs. 800,001 and above 30% Income Tax Slabs for the Senior Citizen (60 to 80 Years Age) for the Assessment Year 2012-2013 Sl No. Income Tax Slab Income Tax Rate Payable 1. Rs. 0 to 250,000 No Income Tax 2. Rs. 250,001 to 500,000 10% 3. Rs. 500,001 to 800,000 20% 4. Rs. 800,001 and above 30% Income Tax Slabs for the Very Senior Citizen (Above 80 Years Age) for the Assessment Year 2012-2013 Sl No. Income Tax Slab Income Tax Rate Payable 1. Rs. 0 to 500,000 No Income Tax 3. Rs. 500,001 to 800,000 20% 4. Rs. 800,001 and above 30% Personal Income Tax Rates for the Financial Year 2012-2013 and Assessment Year 2013-2014 New Delhi (Delhi, India), November 17, 2015 Indian Government Ups Basic Personal Income Tax Exemption Limit from Rs. 180,000 to Rs. 200,000 The Government of India has increased the basic personal income tax exemption limit from Rs. 180,000 to Rs. 200,000 for the Financial Year 2012-2013 and Assessment Year 2013- 2014. The new income tax rates or Income tax slabs are applicable for the incomes earned or generated from April 01, 2012 to March 31, 2013. Mr. Pranab Mukherjee, the Finance Minister of India, announced the new personal income tax slab rates while presenting the Union Budget of India, also called the Indian General Budget, on Friday, March 16, 2012 in New Delhi. Here are the personal income tax slab rates for calculating your income tax for the Financial Year 2012-2013 (Assessment Year 2013-2014). Income Tax Slabs for the Individual Male (Below 60 Years Age) for the Assessment Year 2013-2014 Sl No. Income Tax Slab Income Tax Rate Payable 1. Rs. 0 to 200,000 No Income Tax 2. Rs. 200,001 to 500,000 10% 3. Rs. 500,001 to 1,000,000 20% 4. Rs. 1,000,001 and above 30% Income Tax Slabs for the Individual Female (Below 60 Years Age) for the Assessment Year 2013-2014 Sl No. Income Tax Slab Income Tax Rate Payable 1. Rs. 0 to 200,000 No Income Tax 2. Rs. 200,001 to 500,000 10% 3. Rs. 500,001 to 1,000,000 20% 4. Rs. 1,000,001 and above 30% Income Tax Slabs for the Senior Citizen (60 to 80 Years Age) for the Assessment Year 2013-2014 Sl No. Income Tax Slab Income Tax Rate Payable 1. Rs. 0 to 250,000 No Income Tax 2. Rs. 250,001 to 500,000 10% 3. Rs. 500,001 to 1,000,000 20% 4. Rs. 1,000,001 and above 30% Income Tax Slabs for the Very Senior Citizen (Above 80 Years Age) for the Assessment Year 2013-2014 Sl No. Income Tax Slab Income Tax Rate Payable 1. Rs. 0 to 500,000 No Income Tax 3. Rs. 500,001 to 1,000,000 20% 4. Rs. 1,000,001 and above 30% Personal Income Tax Rates for the Financial Year 2013-2014 and Assessment Year 2014-2015 New Delhi (Delhi, India), November 17, 2015 Indian Government Ups Basic Personal Income Tax Exemption Limit from Rs. 200,000 to Rs. 200,000 The Government of India has increased the basic personal income tax exemption limit from Rs. 200,000 to Rs. 200,000 for the Financial Year 2013-2014 and Assessment Year 2014- 2015. However, a Tax Credit of Rs. 2,000 will be given for income up to Rs. 500,000 in the Financial Year 2013-2014. The new income tax rates or Income tax slabs are applicable for the incomes earned or generated from April 01, 2013 to March 31, 2014. Mr. Palaniappan Chidambaram, the Finance Minister of India, announced the new personal income tax slab rates while presenting the Union Budget of India, also called the Indian General Budget, on Thursday, February 28, 2013 in New Delhi. Here are the personal income tax slab rates for calculating your income tax for the Financial Year 2013-2014 (Assessment Year 2014-2015). Income Tax Slabs for the Individual Male (Below 60 Years Age) for the Assessment Year 2014-2015 Sl No. Income Tax Slab Income Tax Rate Payable 1. Rs. 0 to 200,000 No Income Tax 2. Rs. 200,001 to 500,000 10% 3. Rs. 500,001 to 1,000,000 20% 4. Rs. 1,000,001 and above 30% Note: In addition to the above, a Tax Credit of Rs. 2,000 will be given for income up to Rs. 500,000 in the Financial Year 2013-2014. Income Tax Slabs for the Individual Female (Below 60 Years Age) for the Assessment Year 2014-2015 Sl No. Income Tax Slab Income Tax Rate Payable 1. Rs. 0 to 200,000 No Income Tax 2. Rs. 200,001 to 500,000 10% 3. Rs. 500,001 to 1,000,000 20% 4. Rs. 1,000,001 and above 30% Note: In addition to the above, a Tax Credit of Rs. 2,000 will be given for income up to Rs. 500,000 in the Financial Year 2013-2014. Income Tax Slabs for the Senior Citizen (60 to 80 Years Age) for the Assessment Year 2014-2015 Sl No. Income Tax Slab Income Tax Rate Payable 1. Rs. 0 to 250,000 No Income Tax 2. Rs. 250,001 to 500,000 10% 3. Rs. 500,001 to 1,000,000 20% 4. Rs. 1,000,001 and above 30% Note: In addition to the above, a Tax Credit of Rs. 2,000 will be given for income up to Rs. 500,000 in the Financial Year 2013-2014. Income Tax Slabs for the Very Senior Citizen (Above 80 Years Age) for the Assessment Year 2014-2015 Sl No. Income Tax Slab Income Tax Rate Payable 1. Rs. 0 to 500,000 No Income Tax 3. Rs. 500,001 to 1,000,000 20% 4. Rs. 1,000,001 and above 30% Note: In addition to the above, a Tax Credit of Rs. 2,000 will be given for income up to Rs. 500,000 in the Financial Year 2013-2014. Personal Income Tax Rates for the Financial Year 2014-2015 and Assessment Year 2015-2016 New Delhi (Delhi, India), November 17, 2015 Indian Government Ups Basic Personal Income Tax Exemption Limit from Rs. 200,000 to Rs. 250,000 The Government of India has increased the basic personal income tax exemption limit from Rs. 200,000 to Rs. 250,000 for the Financial Year 2014-2015 and Assessment Year 2015- 2016. The new income tax rates or Income tax slabs are applicable for the incomes earned or generated from April 01, 2014 to March 31, 2015. Mr. Arun Jaitley, the Finance Minister of India, announced the new personal income tax slab rates while presenting the Union Budget of India, also called the Indian General Budget, on Thursday, July 10, 2014 in New Delhi. Here are the personal income tax slab rates for calculating your income tax for the Financial Year 2014-2015 (Assessment Year 2015-2016). Income Tax Slabs for the Individual Male (Below 60 Years Age) for the Assessment Year 2015-2016 Sl No. Income Tax Slab Income Tax Rate Payable 1. Rs. 0 to 250,000 No Income Tax 2. Rs. 250,001 to 500,000 10% 3. Rs. 500,001 to 1,000,000 20% 4. Rs. 1,000,001 and above 30% Income Tax Slabs for the Individual Female (Below 60 Years Age) for the Assessment Year 2015-2016 Sl No. Income Tax Slab Income Tax Rate Payable 1. Rs. 0 to 250,000 No Income Tax 2. Rs. 250,001 to 500,000 10% 3. Rs. 500,001 to 1,000,000 20% 4. Rs. 1,000,001 and above 30% Income Tax Slabs for the Senior Citizen (60 to 80 Years Age) for the Assessment Year 2015-2016 Sl No. Income Tax Slab Income Tax Rate Payable 1. Rs. 0 to 300,000 No Income Tax 2. Rs. 300,001 to 500,000 10% 3. Rs. 500,001 to 1,000,000 20% 4. Rs. 1,000,001 and above 30% Income Tax Slabs for the Very Senior Citizen (Above 80 Years Age) for the Assessment Year 2015-2016 Sl No. Income Tax Slab Income Tax Rate Payable 1. Rs. 0 to 500,000 No Income Tax 3. Rs. 500,001 to 1,000,000 20% 4. Rs. 1,000,001 and above 30% 1. Individual, Hindu undivided family, association of persons, body of individuals, artificial juridical person. Paragraph A of Part-III of First Schedule to the Bill provides following rates of income-tax:- (i) The rates of income-tax in the case of every individual (other than those mentioned in (ii) and (iii) below) or Hindu undivided family or every association of persons or body of individuals, whether incorporated or not, or every artificial juridical person referred to in sub-clause (vii) of clause (31) of section 2 of the Act (not being a case to which any other Paragraph of Part III applies) are as under:- Income Slabs Tax Rates i. Where the total income does not exceed Rs. 2,50,000/-. NIL ii. Where the total income exceeds Rs. 2,50,000/- but does not exceed Rs. 5,00,000/-. 10% of amount by which the total income exceeds Rs. 2,50,000/- iii. Where the total income exceeds Rs. 5,00,000/- but does not exceed Rs. 10,00,000/-. Rs. 25,000/- + 20% of the amount by which the total income exceeds Rs. 5,00,000/-. iv. Where the total income exceeds Rs. 10,00,000/-. Rs. 1,25,000/- + 30% of the amount by which the total income exceeds Rs. 10,00,000/-. (ii) In the case of every individual, being a resident in India, who is of the age of sixty years or more but less than eighty years at any time during the previous year,— Income Slabs Tax Rates i. Where the total income does not exceed Rs. 3,00,000/-. NIL ii. Where the total income exceeds Rs. 3,00,000/- but does not exceed Rs. 5,00,000/- 10% of the amount by which the total income exceeds Rs. 3,00,000/ iii. Where the total income exceeds Rs. 5,00,000/- but does not exceed Rs. 10,00,000/- Rs. 20,000/- + 20% of the amount by which the total income exceeds Rs. 5,00,000/-. iv. Where the total income exceeds Rs. 10,00,000/- Rs. 120,000/- + 30% of the amount by which the total income exceeds Rs. 10,00,000/-. (iii) in the case of every individual, being a resident in India, who is of the age of eighty years or more at anytime during the previous year,— Income Slabs Tax Rates i. Where the total income does not exceed Rs. 5,00,000/-. NIL ii. Where the total income exceeds Rs. 5,00,000/- but does not exceed Rs. 10,00,000/- 20% of the amount by which the total income exceeds Rs. 5,00,000/-. iii. Where the total income exceeds Rs. 10,00,000/- Rs. 100,000/- + 30% of the amount by which the total income exceeds Rs. 10,00,000/-.