Income Tax Slab Rates for Individuals, HUF, AOP, BOI and AJP

Income tax slabs- tax rates for individuals, HUF, AOP, BOI and AJP, applicability of surcharge, secondary and higher education cess, and tax rebate in India.

 

Income tax in India is charged based on the residency or the age group of a tax payer. The income tax brackets are provided in Union Budget 2016 presented in the Parliament on 29th February 2016. It got the assent of the President of India on 14th May 2016. Accordingly, following are the income tax slabs relevant for Assessment year 2017-18 (i.e. Financial Year 2016-17):

1. For Individuals

  1. Resident – age below 60 years

     

    Income range Tax rate Surcharge* EC & SHEC(**) Rebate
    Rs. 2,50,000 – Rs. 5,00,000 10% of income above Rs. 2,50,000 Nil 3% of tax Maximum Rs. 5,000
    Rs. 5,00,000 – Rs. 10,00,000 20% of income above Rs. 5,00,000 Nil 3% of tax Nil
    More than Rs. 10,00,000 30% of income above Rs. 10,00,000 Nil 3% of tax Nil
    More than Rs. 1,00,00,000 30% of income above Rs. 10,00,000 15% of tax 3% of (tax + surcharge) Nil
  2.  

  3. Resident senior citizen – age above 60 years but below 80 years

     

    Income range Tax rate Surcharge* EC & SHEC(**) Rebate
    Up to Rs. 3,00,000 No tax Nil Nil Nil
    Rs. 3,00,000 – Rs. 5,00,000 10% of income above Rs. 3,00,000 Nil 3% of tax Maximum Rs. 5,000
    Rs. 5,00,000 – Rs. 10,00,000 20% of income above Rs. 5,00,000 Nil 3% of tax Nil
    More than Rs. 10,00,000 30% of income above Rs. 10,00,000 Nil 3% of tax Nil
    More than Rs. 1,00,00,000 30% of income above Rs. 10,00,000 15% of tax 3% of (tax + surcharge) Nil
  4.  

  5. Resident super senior citizen – age above 60 years but below 80 years

     

    Income range Tax rate Surcharge* EC & SHEC(**) Rebate
    Up to Rs. 5,00,000 No tax Nil Nil Nil
    Rs. 5,00,000 – Rs. 10,00,000 20% of income above Rs. 5,00,000 Nil 3% of tax Nil
    Rs. 5,00,000 – Rs. 10,00,000 20% of income above Rs. 5,00,000 Nil 3% of tax Nil
    More than Rs. 10,00,000 30% of income above Rs. 10,00,000 Nil 3% of tax Nil
    More than Rs. 1,00,00,000 30% of income above Rs. 10,00,000 15% of tax 3% of (tax + surcharge) Nil
  6.  

  7. Non-Residents (NRI)

     

    Income range Tax rate Surcharge* EC & SHEC(**)
    Upto Rs. 2,50,000 No tax Nil Nil
    Rs. 2,50,000 – Rs. 5,00,000 10% of income above Rs. 2,50,000 Nil 3% of tax
    Rs. 5,00,000 – Rs. 10,00,000 20% of income above Rs. 5,00,000 Nil 3% of tax
    More than Rs. 10,00,000 30% of income above Rs. 10,00,000 Nil 3% of tax
    More than Rs. 1,00,00,000 30% of income above Rs. 10,00,000 15% of tax 3% of (tax + surcharge)

2. For Hindu Undivided Family (HUF)/ Association Of Person (AOP)/ Body Of Individual (BOI)/ Artificial Judicial Person (AJP)

Income range Tax rate Surcharge* EC & SHEC(**)
Upto Rs. 2,50,000 10% of income above Rs. 2,50,000 Nil 3% of tax
Rs. 5,00,000 – Rs. 10,00,000 20% of income above Rs. 5,00,000 Nil 3% of tax
More than Rs. 10,00,000 30% of income above Rs. 10,00,000 Nil 3% of tax
More than Rs. 1,00,00,000 30% of income above Rs. 10,00,000 15% of tax 3% of (tax + surcharge)
More than Rs. 1,00,00,000 30% of income above Rs. 10,00,000 15% of tax 3% of (tax + surcharge)

 

* Marginal relief may be claimed.

** Education Cess (EC) and Secondary & Higher Education Cess (SHEC).