Here is a reminder of Tax Rates for FY 2014-15 (A Y 2015-16 ) ! For all Senior Citizens (60 to 80 years of age)
No Tax upto 3 Lakhs
10 % for 3 to 5 Lakhs
20 % for 5 to 10 Lakhs
30 % for Above 10 Lakhs
Surcharge of 10 % of Income Tax , where taxable income is more ta 1 Crore.
Education Cess of 3 % of total income tax and surcharge.
Tax rebate of 2000/- for every person who has income of 2.5 to 5 Lakh.
No Tax upto 3 Lakhs
10 % for 3 to 5 Lakhs
20 % for 5 to 10 Lakhs
30 % for Above 10 Lakhs
Surcharge of 10 % of Income Tax , where taxable income is more ta 1 Crore.
Education Cess of 3 % of total income tax and surcharge.
Tax rebate of 2000/- for every person who has income of 2.5 to 5 Lakh.
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