Income Tax Slab Rate is same for Financial Year 2015-16 and 2016-17



UPTO 250000



10% of (Income-250000)


20% of (Income-500000)+25000


30% of (Income-500000)+125000

However,Rebate of 2000 was available which has been increased to 5000 in 2016-17


Moreover Surcharge was applicable @ 12% if annual income > 1 crore

It has been increased to 15% for 2016-17


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CA Maninder Singh

CA Maninder Singh is a Chartered Accountant for the past 13 years. He also provides Accounts Tax GST Training in Delhi, Kerala and online.