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Assessment Year 2016-17




In case of an Individual (resident or non-resident) or HUF or Association of Person or Body of Individual or any other artificial juridical person


Taxable income

Tax Rate

Up to Rs. 2,50,000

Nil

Rs. 2,50,000 to Rs. 5,00,000

10%

Rs. 5,00,000 to Rs. 10,00,000

20%

Above Rs. 10,00,000

30%


Less: Rebate under Section 87A [see Note]

Add: Surcharge and Education Cess [see Note]



In case of a resident senior citizen (who is 60 years or more at any time during the previous year but less than 80 years on the last day of the previous year)


Taxable income

Tax Rate

Up to Rs. 3,00,000

Nil

Rs. 3,00,000 - Rs. 5,00,000

10%

Rs. 5,00,000 - Rs. 10,00,000

20%

Above Rs. 10,00,000

30%


Less: Rebate under Section 87A [see Note]

Add: Surcharge and Education Cess [see Note]


In case of a resident super senior citizen (who is 80 years or more at any time during the previous year)


Taxable income

Tax Rate

Up to Rs. 5,00,000

Nil

Rs. 5,00,000 - Rs. 10,00,000

20%

Above Rs. 10,00,000

30%

Add: Surcharge and Education Cess [see Note]


Note:


a) Surcharge: The amount of income-tax shall be increased by a surcharge at the rate of 12% of such tax, where total income exceeds one crore rupees. However, the surcharge shall be subject to marginal relief (where income exceeds one crore rupees, the total amount payable as income-tax and surcharge shall not exceed total amount payable as income-tax on total income of one crore rupees by more than the amount of income that exceeds one crore rupees).


b) Education Cess: The amount of income-tax and the applicable surcharge, shall be further increased by education cess calculated at the rate of two per cent of such income-tax and surcharge.


 c) Secondary and Higher Education Cess: The amount of income-tax and the applicable surcharge, shall be further increased by secondary and higher education cess calculated at the rate of one per cent of such income-tax and surcharge.


 d) Rebate under Section 87A: The rebate is available to a resident individual if his total income does not exceed Rs. 5,00,000. The amount of rebate shall be 100% of income-tax or Rs. 2,000, whichever is less.