Income Tax Slab for 2015 - 2016
Income tax rate for male.Income Tax Slab (in Rs.) | Income Tax Rate | |
1 | Where the total income does not exceed Rs. 1,80,000/-. | NIL |
2 | Where 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/- |
3 | Where 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/-. |
4 | Where 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 | |
1 | Where the total income does not exceed Rs. 1,90,000/-. | NIL |
2 | Where 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/-. |
3 | Where 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/-. |
4 | Where 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 | |
1 | Where the total income does not exceed Rs. 2,50,000/-. | NIL |
2 | Where 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/-. |
3 | Where 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/-. |
4 | Where 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 | |
1 | Where the total income does not exceed Rs. 5,00,000/-. | NIL |
2 | Where 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/-. |
3 | Where 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 | |
1 | Where the total income does not exceed Rs. 1,80,000/-. | NIL |
2 | Where 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/- |
3 | Where 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/-. |
4 | Where 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 | |
1 | Where the total income does not exceed Rs. 10,000/-. | 10% of the income. |
2 | Where 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/-. |
3 | Where the total income exceeds Rs. 20,000/- | Rs. 3.000/- + 30% of the amount by which the total income exceeds Rs. 20,000/-. |
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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