## Income Tax Slabs in India 2016-17

### Financial Year 2015-16 i.e. Assessment Year 2016-17.

1. For Male Individuals below 60 years of age & HUF

Income Tax Slabs |
Income Tax Rates |

Where Total Income does not exceed Rs. 2,50,000 | NIL |

Where the Total Income exceeds Rs. 2,50,000 but does not exceed Rs. 5,00,000 | 10% of the Amount by which it exceeds Rs. 2,50,000 |

Where the Total Income exceeds Rs. 5,00,000 but does not exceed Rs. 10,00,000 | 20% of the Amount by which it exceeds Rs. 5,00,000 |

Where the Total Income exceeds Rs. 10,00,000 | 30% of the Amount by which it exceeds Rs. 10,00,000 |

2. For Female Individuals below 60 years of Age

Income Tax Slabs for Males and Females are the same and are as follows:-

Income Tax Slabs | Income Tax Rates |

Where Total Income does not exceed Rs. 2,50,000 | NIL |

Where the Total Income exceeds Rs. 2,50,000 but does not exceed Rs. 5,00,000 | 10% of the Amount by which it exceeds Rs. 2,50,000 |

Where the Total Income exceeds Rs. 5,00,000 but does not exceed Rs. 10,00,000 | 20% of the Amount by which it exceeds Rs. 5,00,000 |

Where the Total Income exceeds Rs. 10,00,000 | 30% of the Amount by which it exceeds Rs. 10,00,000 |

3. For all Senior Citizens above 60 years of Age

Income Tax Slabs | Income Tax Rates |

Where Total Income does not exceed Rs. 3,00,000 | NIL |

Where the Total Income exceeds Rs. 3,00,000 but does not exceed Rs. 5,00,000 | 10% of the Amount by which it exceeds Rs. 3,00,000 |

Where the Total Income exceeds Rs. 5,00,000 but does not exceed Rs. 10,00,000 | 20% of the Amount by which it exceeds Rs. 10,00,000 |

Where the Total Income exceeds Rs. 10,00,000 | 30% of the Amount by which it exceeds Rs. 10,00,000 |

4. For all Senior Citizens above 80 Years of Age

Income Tax Slabs | Income Tax Rates |

Where Total Income does not exceed Rs. 5,00,000 | NIL |

Where the Total Income exceeds Rs. 5,00,000 but does not exceed Rs. 10,00,000 | 20% of the Amount by which it exceeds Rs. 5,00,000 |

Where the Total Income exceeds Rs. 10,00,000 | 30% of the Amount by which it exceeds Rs. 10,00,000 |

#### Slabs for Business:

1. For Co-operative Society

Income Tax Slabs | Income Tax Rates |

Where the Total Income does not exceed Rs. 10,000 | 10% of the Income |

Where the Total Income exceeds Rs. 10,000 but does not exceed Rs. 20,000 | 20% of the Amount by which it exceeds Rs. 10,000 |

Where the Total Income exceeds Rs. 20,000 | 30% of the Amount by which it exceeds Rs. 20,000 |