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  • Income Tax Slab - 2015

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    oscpramod2695
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    The document outlines income tax slabs and rates for the 2015-2016 financial year in India for individuals of different ages. It provides tax rates for those below age 60, between ages 60-80, and over age 80. Tax deductions are available under sections 80C, 80CCC, and 80D of the Income Tax Act for investments in specified plans up to certain limits. The maximum possible tax savings per individual is Rs. 57,165 through these deductions. Benefits received under section 10(10)D are completely tax exempt.

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    Income Tax Slab

    Original Title

    INCOME TAX SLAB – 2015

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    The document outlines income tax slabs and rates for the 2015-2016 financial year in India for individuals of different ages. It provides tax rates for those below age 60, between ages 60-80, and over age 80. Tax deductions are available under sections 80C, 80CCC, and 80D of the Income Tax Act for investments in specified plans up to certain limits. The maximum possible tax savings per individual is Rs. 57,165 through these deductions. Benefits received under section 10(10)D are completely tax exempt.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    19 views3 pages

    Income Tax Slab - 2015

    Uploaded by

    oscpramod2695
    The document outlines income tax slabs and rates for the 2015-2016 financial year in India for individuals of different ages. It provides tax rates for those below age 60, between ages 60-80, and over age 80. Tax deductions are available under sections 80C, 80CCC, and 80D of the Income Tax Act for investments in specified plans up to certain limits. The maximum possible tax savings per individual is Rs. 57,165 through these deductions. Benefits received under section 10(10)D are completely tax exempt.

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    © All Rights Reserved
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    of 3

    INCOME TAX SLAB – 2015-2016

    For Men Below 60 Years Of Age


    Income Tax Slab Income Tax Rate
    Income upto Rs. 2,50,000 Nil
    Income between Rs. 2,50,001 - Rs. 500,000 10% of Income exceeding Rs. 2,50,000
    Income between Rs. 500,001 - Rs. 10,00,000 20% of Income exceeding Rs. 5,00,000
    Income above Rs. 10,00,000 30% of Income exceeding Rs. 10,00,000

    For Women Below 60 Years Of Age


    Income Tax Slab Income Tax Rate
    Income upto Rs. 2,50,000 Nil
    Income between Rs. 2,50,001 - Rs. 500,000 10% of Income exceeding Rs. 2,50,000
    Income between Rs. 500,001 - Rs. 10,00,000 20% of Income exceeding Rs. 5,00,000
    Income above Rs. 10,00,000 30% of Income exceeding Rs. 10,00,000

    For Senior Citizens (Age 60 years or more but less than 80 years)
    Income Tax Slab Income Tax Rate
    Income upto Rs. 3,00,000 Nil
    Income between Rs. 3,00,001 - Rs. 500,000 10% of Income exceeding Rs. 3,00,000
    Income between Rs. 500,001 - Rs. 10,00,000 20% of Income exceeding Rs. 5,00,000
    Income above Rs. 10,00,000 30% of Income exceeding Rs. 10,00,000
    For Senior Citizens (Age 80 years or more)
    Income Tax Slab Income Tax Rate
    Income upto Rs. 5,00,000 Nil
    Income between Rs. 500,001 - Rs. 10,00,000 20% of Income exceeding Rs. 5,00,000
    Income above Rs. 10,00,000 30% of Income exceeding Rs. 10,00,000

    Income Tax Deductions and Exemptions


    How Much HDFC
    Income Tax Section Gross Annual Salary Tax Can You Standard
    Save? Life Plans
    Upto Rs. All our Life
    46,350/- Insurance
    Sec. 80C Across all income slabs saved on Plans
    Buy Life
    investment of
    Insurance and
    Rs. 1,50,000/- Save Tax
    Upto Rs. All our
    30,900/- Pension Plans
    Sec. 80CCC Across all income slabs saved on Buy Pension
    Investment of Plans and Save
    Rs.1,50,000/- Tax

    Upto Rs. • All our


    Sec. 80 D* Across all income slabs 10,815/- Health
    saved on Insuranc
    investment of e Plans
    Rs.35,000/- • All the
    (Inclusive of Rs. health
    20,000/- towards
    health insurance of
    insuranc
    parents who are e riders
    senior citizens) available
    with our
    Conventi
    onal
    Plans
    • Buy Health
    Insuranc
    e and
    Save Tax
    Rs. 57,165/-

    Total Savings • Rs. 46,350/- under Sec. 80C and Sec. 80CCC and
    Possible ** • Rs. 10,815/- under Sec. 80D
    • Above figures calculated for an individual with gross annual income exceeding Rs.
    10,00,000/-
    Under Sec. 10(10D), the benefits received by you are completely
    Sec. 10 (10)D
    tax-free, subject to conditions specified there in
     

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