Income Tax Slab Rate is same for Financial Year 2015-16 and 2016-17
|
INCOME |
TAX |
|
UPTO 250000 |
0 |
|
250000-500000 |
10% of (Income-250000) |
|
5000001-1000000 |
20% of (Income-500000)+25000 |
|
>1000000 |
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
