TAX SLABS

 

 

A tax that governments impose on financial Income generated by all entities within their jurisdiction. By law, businesses and individuals must file an Income tax returne very year to determine whether they owe any taxes or are eligible for a tax refund.

The Income Tax Department is the biggest revenue mobilizer for the Government. Income tax is a key source of funds that the government uses to fund its activities and serve the public.

India Income tax slabs FY 2014-2015 for General tax payers

Income tax slab (in Rs.)

Tax

0 to 2,50,000

No tax

2,50,001 to 5,00,000

10%

5,00,001 to 10,00,000

20%

Above 10,00,000

30%

 

India Income tax slabs FY 2014-2015 for Female tax payers

Income tax slab (in Rs.)

Tax

0 to 2,50,000

No tax

2,50,001 to 5,00,000

10%

5,00,001 to 10,00,000

20%

Above 10,00,000

30%

 

India Income tax slabs FY 2014-2015 for Senior citizens
(Aged 60 years but less than 80 years)

Income tax slab (in Rs.)

Tax

0 to 3,00,000

No tax

3,00,001 to 5,00,000

10%

5,00,001 to 10,00,000

20%

Above 10,00,000

30%

 

India Income tax slabs FY 2014-2015 for very senior citizens
(Aged 80 and above)

Income tax slab (in Rs.)

Tax

0 to 5,00,000

No tax

5,00,001 to 10,00,000

20%

Above 10,00,000

30%

 
 
 
 
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