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Income Tax Slab FY 2016-17 (Assessment Year (AY) 2017-18)

For individual tax payers below 60 years of age (both men & women)

Income Tax SlabIncome Tax Rate
Income upto Rs. 2,50,000Nil
Income between Rs. 2,50,001 - Rs. 500,00010% of Income exceeding Rs. 2,50,000
Income between Rs. 500,001 - Rs. 10,00,00020% of Income exceeding Rs. 5,00,000
Income above Rs. 10,00,00030% of Income exceeding Rs. 10,00,000
Surcharge: 15% of income tax, where total income exceeds Rs.1 crore.
Cess: 3% on total of income tax + surcharge.

For senior citizens (age 60 years or more but less than 80 years) (both men & women)

Income Tax SlabIncome Tax Rate
Income upto Rs. 3,00,000Nil
Income between Rs. 3,00,001 - Rs. 500,00010% of Income exceeding Rs. 3,00,000
Income between Rs. 500,001 - Rs. 10,00,00020% of Income exceeding Rs. 5,00,000
Income above Rs. 10,00,00030% of Income exceeding Rs. 10,00,000
Surcharge:15% of income tax, where total income exceeds Rs.1 crore.
Cess: 3% on total of income tax + surcharge.

For super senior citizens (age 80 years or more) (both men & women)

Income Tax SlabIncome Tax Rate
Income upto Rs. 5,00,000Nil
Income between Rs. 500,001 - Rs. 10,00,00020% of Income exceeding Rs. 5,00,000
Income above Rs. 10,00,00030% of Income exceeding Rs. 10,00,000
Surcharge:15% of income tax, where total income exceeds Rs.1 crore.
Cess: 3% on total of income tax + surcharge.