Income Tax Slab Rates for Assessment Year 2015-16 (Financial Year 2014-15) for Salaried Persons

Friends,

Now a days, everyone of us is calculating his/her  tax calculations for the current financial year i.e. 2014-15 on the salaries received in this year. Here are the Income Tax Slab Rates applicable to financial year 2014-15 which will be help for you in calculating your tax liability. 

Income Tax Slab for A.Y. 2015-16 (F.Y. 2014-15)

	Income	Tax Rates
i)	Income up to 2.5 lakh	NIL
ii)	Income From 2.5 Lakh to 5 Lakh	10% on income over Rs. 2.5 Lakh
iii)	Income from 5 Lakh to 10 Lakh	Rs. 25,000/- plus 20% on above income 5 lakh
iv)	Income above 10 lakh	Rs. 1 lakh 25 thousand plus 30% on income above 10 lakh
v)	Surcharge will be applicable @ 10% when total taxable income is over 1 crore
vi)	3% Education Cess, Secondary & Higher Education Cess will be applicable on income tax & surcharge

Income Tax Slabs for Individuals for 60 years or above but below 80 years A.Y.2015-16

	Income	Tax Rates
i)	Income up to 3 lakh	NIL
ii)	Income From 3 Lakh to 5 Lakh	10% on income over Rs. 3 Lakh
iii)	Income from 5 Lakh to 10 Lakh	Rs. 20,000/- plus 20% on above income 5 lakh
iv)	Income above 10 lakh	Rs. 1 lakh 20 thousand plus 30% on income above 10 lakh
Surcharge will be applicable @ 10% when total taxable income is over 1 crore.
3% education cess will be applicable on income tax & surcharge

Income Tax Slab for Individuals Over 80 Years A.Y.2015-16

	Income	Tax Rates
i)	Income up to 5 Lakh	NIL
ii)	Income From 5 Lakh to 10 Lakh	20% on income over Rs.5 Lakh
iii)	Income above 10 lakh	Rs. 1 lakh plus 30% on income above 10 lakh
Surcharge will be applicable @ 10% when total taxable income is over 1 crore.
3% education cess will be applicable on income tax & surcharge