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Sunday, January 10, 2016

Income Tax Rate for 2016

 
Income Tax Slab for 2015 - 2016 
Income tax rate for male.
 Income Tax Slab (in Rs.)Income Tax Rate
1Where the total income does not exceed Rs. 1,80,000/-.NIL
2Where the total income exceeds Rs. 1,80,000/- 
but does not exceed Rs. 5,00,000/-.
10% of amount 
by which the total income exceeds Rs. 1,80,000/-
3Where the total income exceeds Rs. 5,00,000/- 
but does not exceed Rs. 8,00,000/-.
Rs. 32,000/- + 20% of the amount 
by which the total income exceeds Rs. 5,00,000/-.
4Where the total income exceeds Rs. 8,00,000/-.Rs. 92,000/- + 30% of the amount 
by which the total income exceeds Rs. 8,00,000/-.


Income tax rate for Female.
 Income Tax Slab (in Rs.)Income Tax Rate
1Where the total income does not exceed Rs. 1,90,000/-.NIL
2Where total income exceeds Rs. 1,90,000/- 
but does not exceed Rs. 5,00,000/-.
10% of the amount 
by which the total income exceeds Rs. 1,90,000/-.
3Where the total income exceeds Rs. 5,00,000/- 
but does not exceed Rs. 8,00,000/-.
Rs. 31,000- + 20% of the amount 
by which the total income exceeds Rs. 5,00,000/-.
4Where the total income exceeds Rs. 8,00,000/-.Rs. 91,000/- + 30% of the amount 
by which the total income exceeds Rs. 8,00,000/-.


Income tax rate for individual resident who is of the age of 60 years or more but below the age of 80 years.
 Income Tax Slab (in Rs.)Income Tax Rate
1Where the total income does not exceed Rs. 2,50,000/-.NIL
2Where the total income exceeds Rs. 2,50,000/- 
but does not exceed Rs. 5,00,000/-
10% of the amount 
by which the total income exceeds Rs. 2,50,000/-.
3Where the total income exceeds Rs. 5,00,000/- 
but does not exceed Rs. 8,00,000/-
Rs. 25,000/- + 20% of the amount 
by which the total income exceeds Rs. 5,00,000/-.
4Where the total income exceeds Rs. 8,00,000/-Rs. 85,000/- + 30% of the amount 
by which the total income exceeds Rs. 8,00,000/-.


Income tax rate for individual resident who is of the age of 80 years or more at any time during the previous year.
 Income Tax Slab (in Rs.)Income Tax Rate
1Where the total income does not exceed Rs. 5,00,000/-.NIL
2Where the total income exceeds Rs. 5,00,000/- 
but does not exceed Rs. 8,00,000/-
20% of the amount 
by which the total income exceeds Rs. 5,00,000/-.
3Where the total income exceeds Rs. 8,00,000/-Rs. 60,000/- + 30% of the amount 
by which the total income exceeds Rs. 8,00,000/-.


Association of Persons (AOP) and Body of Individuals (BOI).
 Income Tax Slab (in Rs.)Income Tax Rate
1Where the total income does not exceed Rs. 1,80,000/-.NIL
2Where the total income exceeds Rs. 1,80,000/- 
but does not exceed Rs. 5,00,000/-.
10% of amount 
by which the total income exceeds Rs. 1,80,000/-
3Where the total income exceeds Rs. 5,00,000/- 
but does not exceed Rs. 8,00,000/-.
Rs. 32,000/- + 20% of the amount 
by which the total income exceeds Rs. 5,00,000/-.
4Where the total income exceeds Rs. 8,00,000/-.Rs. 92,000/- + 30% of the amount 
by which the total income exceeds Rs. 8,00,000/-.


Co-operative Society.
 Income Tax Slab (in Rs.)Income Tax Rate
1Where the total income does not exceed
Rs. 10,000/-.
10% of the income.
2Where the total income exceeds Rs. 10,000/- 
but does not exceed Rs. 20,000/-.
Rs. 1,000/- + 20% of income in excess of Rs. 10,000/-.
3Where the total income exceeds Rs. 20,000/-Rs. 3.000/- + 30% of the amount 
by which the total income exceeds Rs. 20,000/-.
Invest Rs 1,50,000 and Save Tax under Section 80C. Get Great Returns by Investing in Best Performing ELSS Mutual Funds

Top 10 Tax Saving Mutual Funds to invest in India for 2016 or Best 10 ELSS Mutual Funds in india for 2016

1. BNP Paribas Long Term Equity Fund

2. Axis Tax Saver Fund

3. Franklin India TaxShield

4. ICICI Prudential Long Term Equity Fund

5. IDFC Tax Advantage (ELSS) Fund

6. Birla Sun Life Tax Relief 96

7. DSP BlackRock Tax Saver Fund

8. Reliance Tax Saver (ELSS) Fund

9. Religare Tax Plan

10. Birla Sun Life Tax Plan

Invest in Best Performing 2016 Tax Saver Mutual Funds Online

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