| Annual Net Income from all sources (After all permissible deductions) | Income-tax rates (in Rs.) |
| Upto Rs.1,80,000/- | NIL |
| Rs.1,80,001- Rs. 5,00,000 | 10% of the amount exceeding Rs.1,80,000 (5,00,000-1,80,000=3,20,000x10%) = 32,000 + 3% education cess Rs.960 = 32,960 |
| Rs.5,00,001- Rs. 8,00,000 | Rs. 32,000 + 20% of amount exceeding Rs.5,00,000 (8,00,000-5,00,000=3,00,000x20%=60,000) = 92,000 + 3% education cess Rs.2760 = 94,760 |
| 8,00,000 & Above | Rs.92,000 + 30% of amount exceeding Rs.8,00,000 + 3% education cess on net income tax payable |
Note: Slab for Women (below 60 age) begins from 1,90,001 & Slab for Senior Citizen begins from 2,50,001
Good Information. I looking for my Income Tax Slab rates finally i got from this post in which my income is lying and what amount will be taxable. Thanks for giving details about Income Tax Slab rates.
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