Following are the Latest Income Tax Slabs for Individuals for Assessment Year 2016-17 (FY 2015-16) and AY 2017-18 (FY 2016-17):
1. In case of an Individual or HUF or Association of Person or Body of Individual
| Taxable income | Tax Rate |
| Up to Rs. 2,50,000 | Nil |
| Rs. 2,50,000 to Rs. 5,00,000 | 10% |
| Rs. 5,00,000 to Rs. 10,00,000 | 20% |
| Above Rs. 10,00,000 | 30% |
2. In case of a resident senior citizen (who is 60 years or more at any time during the previous year but less than 80 years)
| Taxable income | Tax Rate |
| Up to Rs. 3,00,000 | Nil |
| Rs. 3,00,000 – Rs. 5,00,000 | 10% |
| Rs. 5,00,000 – Rs. 10,00,000 | 20% |
| Above Rs. 10,00,000 | 30% |
3. In case of a resident super senior citizen (who is 80 years or more)
| Taxable income | Tax Rate |
| Up to Rs. 5,00,000 | Nil |
| Rs. 5,00,000 – Rs. 10,00,000 | 20% |
| Above Rs. 10,00,000 | 30% |