Your income tax slabs
/2015-07-14 13:23:09
Shantala Kumble

Tax Ready Reckoner: Your income tax slabs, Sec 80C and Sec 80D deductions

TAX SLABS

Income RangeGeneral (non-senior citizens) CategoryWomen (Below 60 years of age) (This category is abolished from this year and is thus is same as that of General CategorySenior Citizens (Men and Women above 60 years of age), but below 80 yearsVery Senior Citizens (Men and Women above 80 years of age)
Upto Rs.
2,00,000
NilNilNilNil
Rs. 2,00,001 to Rs. 2,50,00010% *10% *NilNil
Rs. 2,50,001 to Rs. 5,00,00010% *10% *10% *Nil
Rs. 5,00,001 to Rs. 10,00,00020%20%20%20%
Above Rs. 10,00,00030% **30% **30% **30% **

There is a surcharge of 10% on persons whose taxable income exceeds Rs 1 crore per year. This will apply to individuals, HUFs, firms and entities with similar tax status.

Section 80C:

The total deduction under this section (alongwith section 80CCC and 80CCD) is limited to Rs. 1 lakh only.