- Rebate section 87A for AY 2016-17 is over and above the below Slabs
- Surcharge – 12% if the total income exceeds Rs. 1 crores
- Education Cess on income-tax- 2%
- Secondary and Higher Education Cess- 1%
The income tax rates for FY 2015-16 are:
| New Income tax slab for FY 2015-16 / AY 2016-17 | ||
| For Resident Senior Citizens 60 years< but <80 years (FY 2015-16) | ||
| S. No. | Income Range | Tax Rates |
| 1 | Upto Rs. 3,00,000 | No tax / exempt |
| 2 | 3,00,001 to 5,00,000 | 10% |
| 3 | 5,00,001 to 10,00,000 | 20% |
| 4 | Above 10,00,000 | 30% |
| For Resident Senior Citizens above 80 years (FY 2015-16) | ||
| S. No. | Income Range | Tax Rates |
| 1 | Upto Rs 5,00,000 | No tax / exempt |
| 2 | 5,00,001 to 10,00,000 | 20% |
| 3 | Above 10,00,000 | 30% |
| For Resident Women, Men & Others (below 60 years) (FY 2015-16) | ||
| 1 | Upto Rs 2,50,000 | No tax / exempt |
| 2 | 2,50,001 to 5,00,000 | 10% |
| 3 | 5,00,001 to 10,00,000 | 20% |
| 4 | Above 10,00,000 | 30% |