Income Tax Slabs and Rates
For Individuals tax payers and Hindu undivided Family (HUF)
Total Income Slab Tax Rates
Up to Rs. 2,50,000 NIL
Rs. 2,50,001 to Rs. 5,00,000 5%
Rs. 5,00,001 to Rs. 10,00,000 20%
Rs. 10,00,001 and above 30%
- In case of resident individual of the age 60 years and above but below 80 years, the basic exemption limit is Rs. 3,00,000.
- In case of resident individual of the age 80 years and above, the basic exemption limit is Rs. 5,00,000.
- n case of individuals having total income of less than 3,50,000, a tax rebate of lower of actual tax liability or Rs. 2,500 is provided for.
- Where income exceeds Rs. 1 Crore a surcharge of 15% is applicable on base tax and where income exceeds Rs. 50 lakhs but does not exceed Rs. 1 Crore a surcharge of 10% is applicable
- Health and education cess of 4% on aggregate of base tax and surcharge (wherever applicable) is payable