Tag Archives: Tax Rates

Tax Slabs for Assessment Year 2016-17 & Assessment Year 2017-18


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%
Latest Income Tax Slabs
Latest Income Tax Slabs

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%