{"id":3462,"date":"2019-10-14T16:05:14","date_gmt":"2019-10-14T10:35:14","guid":{"rendered":"http:\/\/www.theteamwork.com\/articles\/?p=3462"},"modified":"2019-10-14T23:09:00","modified_gmt":"2019-10-14T17:39:00","slug":"2016-2057-government-india-income-tax-slab-rates-ay-2015-2016","status":"publish","type":"post","link":"https:\/\/www.theteamwork.com\/articles\/2016-2057-government-india-income-tax-slab-rates-ay-2015-2016.html","title":{"rendered":"Government of India &#8211; Income Tax Slab Rates for AY 2015-2016"},"content":{"rendered":"<p><a href=\"https:\/\/www.theteamwork.com\/articles\/wp-content\/uploads\/2019\/10\/Ministry-of-Finance.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-full wp-image-8092\" src=\"https:\/\/www.theteamwork.com\/articles\/wp-content\/uploads\/2019\/10\/Ministry-of-Finance.jpg\" alt=\"Ministry of Finance\" width=\"728\" height=\"101\" srcset=\"https:\/\/www.theteamwork.com\/articles\/wp-content\/uploads\/2019\/10\/Ministry-of-Finance.jpg 728w, https:\/\/www.theteamwork.com\/articles\/wp-content\/uploads\/2019\/10\/Ministry-of-Finance-300x42.jpg 300w\" sizes=\"auto, (max-width: 728px) 100vw, 728px\" \/><\/a><\/p>\n<p><strong>Personal Income Tax Rates for the Financial Year 2014-2015 and Assessment Year 2015-2016<\/strong><\/p>\n<p>New Delhi (Delhi, India), October 14, 2019<\/p><div data-ad-id=\"8601\" style=\"text-align:left; margin-top:px; margin-bottom:px; margin-left:px; margin-right:px;float:none;\" class=\"afw afw-ga afw_ad afwadid-8601  \">\r\n                                                                <script async=\"\" src=\"\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js\"><\/script><ins class=\"adsbygoogle\" style=\"background:none;display:inline-block;width:300px;height:600px\" data-ad-client=\"ca-pub-7798450846111448\" data-ad-slot=\"6557536103\">\r\n                                                                <\/ins>\r\n                                                                <script>\r\n                                                                        (adsbygoogle = window.adsbygoogle || []).push({});\r\n                                                                <\/script>\r\n                                                                \r\n                                                        <\/div>\n<p><strong>Indian Government Ups Basic Personal Income Tax Exemption Limit from Rs. 200,000 to Rs. 250,000<\/strong><\/p>\n<p>The Government of India has increased the basic personal income tax exemption limit from Rs. 200,000 to Rs. 250,000 for the Financial Year 2014-2015 and Assessment Year 2015-2016.<\/p>\n<p>The new income tax rates or Income tax slabs are applicable for the incomes earned or generated from April 01, 2014 to March 31, 2015.<\/p>\n<p>Mr. Arun Jaitley, the Finance Minister of India, announced the new personal income tax slab rates while presenting the Union Budget of India, also called the Indian General Budget, on Thursday, July 10, 2014 in New Delhi.<\/p>\n<p>Here are the personal income tax slab rates for calculating your income tax for the Financial Year 2014-2015 (Assessment Year 2015-2016).<\/p>\n<p><strong>Income Tax Slabs for the Individual Male (Below 60 Years Age) for the Assessment Year 2015-2016<\/strong><\/p>\n<table border=\"1\" width=\"585\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td valign=\"top\" width=\"5\"><strong>Sl No.<\/strong><\/td>\n<td valign=\"top\" width=\"72\"><strong>Income Tax Slab<\/strong><\/td>\n<td valign=\"top\" width=\"54\"><strong>Income Tax Rate Payable<\/strong><\/td>\n<\/tr>\n<tr>\n<td valign=\"top\" width=\"5\">1.<\/td>\n<td valign=\"top\" width=\"72\">Rs. 0 to 250,000<\/td>\n<td valign=\"top\" width=\"54\">No Income Tax<\/td>\n<\/tr>\n<tr>\n<td valign=\"top\" width=\"5\">2.<\/td>\n<td valign=\"top\" width=\"72\">Rs. 250,001 to 500,000<\/td>\n<td valign=\"top\" width=\"54\">10%<\/td>\n<\/tr>\n<tr>\n<td valign=\"top\" width=\"5\">3.<\/td>\n<td valign=\"top\" width=\"72\">Rs. 500,001 to 1,000,000<\/td>\n<td valign=\"top\" width=\"54\">20%<\/td>\n<\/tr>\n<tr>\n<td valign=\"top\" width=\"5\">4.<\/td>\n<td valign=\"top\" width=\"72\">Rs. 1,000,001 and above<\/td>\n<td valign=\"top\" width=\"54\">30%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><strong>Income Tax Slabs for the Individual Female (Below 60 Years Age) for the Assessment Year 2015-2016<\/strong><\/p>\n<table border=\"1\" width=\"585\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td valign=\"top\" width=\"5\"><strong>Sl No.<\/strong><\/td>\n<td valign=\"top\" width=\"72\"><strong>Income Tax Slab<\/strong><\/td>\n<td valign=\"top\" width=\"54\"><strong>Income Tax Rate Payable<\/strong><\/td>\n<\/tr>\n<tr>\n<td valign=\"top\" width=\"5\">1.<\/td>\n<td valign=\"top\" width=\"72\">Rs. 0 to 250,000<\/td>\n<td valign=\"top\" width=\"54\">No Income Tax<\/td>\n<\/tr>\n<tr>\n<td valign=\"top\" width=\"5\">2.<\/td>\n<td valign=\"top\" width=\"72\">Rs. 250,001 to 500,000<\/td>\n<td valign=\"top\" width=\"54\">10%<\/td>\n<\/tr>\n<tr>\n<td valign=\"top\" width=\"5\">3.<\/td>\n<td valign=\"top\" width=\"72\">Rs. 500,001 to 1,000,000<\/td>\n<td valign=\"top\" width=\"54\">20%<\/td>\n<\/tr>\n<tr>\n<td valign=\"top\" width=\"5\">4.<\/td>\n<td valign=\"top\" width=\"72\">Rs. 1,000,001 and above<\/td>\n<td valign=\"top\" width=\"54\">30%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><strong>Income Tax Slabs for the Senior Citizen (60 to 80 Years Age) for the Assessment Year 2015-2016<\/strong><\/p>\n<table border=\"1\" width=\"585\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td valign=\"top\" width=\"5\"><strong>Sl No.<\/strong><\/td>\n<td valign=\"top\" width=\"72\"><strong>Income Tax Slab<\/strong><\/td>\n<td valign=\"top\" width=\"54\"><strong>Income Tax Rate Payable<\/strong><\/td>\n<\/tr>\n<tr>\n<td valign=\"top\" width=\"5\">1.<\/td>\n<td valign=\"top\" width=\"72\">Rs. 0 to 300,000<\/td>\n<td valign=\"top\" width=\"54\">No Income Tax<\/td>\n<\/tr>\n<tr>\n<td valign=\"top\" width=\"5\">2.<\/td>\n<td valign=\"top\" width=\"72\">Rs. 300,001 to 500,000<\/td>\n<td valign=\"top\" width=\"54\">10%<\/td>\n<\/tr>\n<tr>\n<td valign=\"top\" width=\"5\">3.<\/td>\n<td valign=\"top\" width=\"72\">Rs. 500,001 to 1,000,000<\/td>\n<td valign=\"top\" width=\"54\">20%<\/td>\n<\/tr>\n<tr>\n<td valign=\"top\" width=\"5\">4.<\/td>\n<td valign=\"top\" width=\"72\">Rs. 1,000,001 and above<\/td>\n<td valign=\"top\" width=\"54\">30%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><strong>Income Tax Slabs for the Very Senior Citizen (Above 80 Years Age) for the Assessment Year 2015-2016<\/strong><\/p>\n<table border=\"1\" width=\"585\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td valign=\"top\" width=\"5\"><strong>Sl No.<\/strong><\/td>\n<td valign=\"top\" width=\"72\"><strong>Income Tax Slab<\/strong><\/td>\n<td valign=\"top\" width=\"54\"><strong>Income Tax Rate Payable<\/strong><\/td>\n<\/tr>\n<tr>\n<td valign=\"top\" width=\"5\">1.<\/td>\n<td valign=\"top\" width=\"72\">Rs. 0 to 500,000<\/td>\n<td valign=\"top\" width=\"54\">No Income Tax<\/td>\n<\/tr>\n<tr>\n<td valign=\"top\" width=\"5\">3.<\/td>\n<td valign=\"top\" width=\"72\">Rs. 500,001 to 1,000,000<\/td>\n<td valign=\"top\" width=\"54\">20%<\/td>\n<\/tr>\n<tr>\n<td valign=\"top\" width=\"5\">4.<\/td>\n<td valign=\"top\" width=\"72\">Rs. 1,000,001 and above<\/td>\n<td valign=\"top\" width=\"54\">30%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><a href=\"https:\/\/www.theteamwork.com\/articles\/2016-2056-government-india-income-tax-slab-rates-ay-2014-2015.html\"><strong>Government of India &#8211; Income Tax Slab Rates for AY 2014-2015<\/strong><\/a><br \/>\nPersonal Income Tax Rates for the Financial Year 2013-2014 and Assessment Year 2014-2015<\/p>\n<p><a href=\"https:\/\/www.theteamwork.com\/articles\/2016-2055-government-india-income-tax-slab-rates-ay-2013-2014.html\"><strong>Government of India &#8211; Income Tax Slab Rates for AY 2013-2014<\/strong><\/a><br \/>\nPersonal Income Tax Rates for the Financial Year 2012-2013 and Assessment Year 2013-2014<\/p>\n<p><a href=\"https:\/\/www.theteamwork.com\/articles\/2016-2054-government-india-income-tax-slab-rates-ay-2012-2013.html\"><strong>Government of India &#8211; Income Tax Slab Rates for AY 2012-2013<\/strong><\/a><br \/>\nPersonal Income Tax Rates for the Financial Year 2011-2012 and Assessment Year 2012-2013<\/p><div data-ad-id=\"8683\" style=\"text-align:left; margin-top:px; margin-bottom:px; margin-left:px; margin-right:px;float:none;\" class=\"afw afw-ga afw_ad afwadid-8683  \">\r\n                                                                <script async=\"\" src=\"\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js\"><\/script><ins class=\"adsbygoogle\" style=\"background:none;display:inline-block;width:336px;height:280px\" data-ad-client=\"ca-pub-7798450846111448\" data-ad-slot=\"3966003673\">\r\n                                                                <\/ins>\r\n                                                                <script>\r\n                                                                        (adsbygoogle = window.adsbygoogle || []).push({});\r\n                                                                <\/script>\r\n                                                                \r\n                                                        <\/div>\n<p><a href=\"https:\/\/www.theteamwork.com\/articles\/2016-2053-government-india-income-tax-slab-rates-ay-2011-2012.html\"><strong>Government of India &#8211; Income Tax Slab Rates for AY 2011-2012<\/strong><\/a><br \/>\nPersonal Income Tax Rates for the Financial Year 2010-2011 and Assessment Year 2011-2012<\/p>\n<p><a href=\"https:\/\/www.theteamwork.com\/articles\/2016-2052-government-india-income-tax-slab-rates-ay-2010-2011.html\"><strong>Government of India &#8211; Income Tax Slab Rates for AY 2010-2011<\/strong><\/a><br \/>\nPersonal Income Tax Rates for the Financial Year 2009-2010 and Assessment Year 2010-2011<\/p>\n<p><a href=\"https:\/\/www.theteamwork.com\/articles\/2016-2051-government-india-income-tax-slab-rates-ay-2009-2010.html\"><strong>Government of India &#8211; Income Tax Slab Rates for AY 2009-2010<\/strong><\/a><br \/>\nPersonal Income Tax Rates for the Financial Year 2008-2009 and Assessment Year 2009-2010<\/p>\n<p><a href=\"https:\/\/www.theteamwork.com\/articles\/2016-2050-government-india-income-tax-slab-rates-ay-2008-2009.html\"><strong>Government of India &#8211; Income Tax Slab Rates for AY 2008-2009<\/strong><\/a><br \/>\nPersonal Income Tax Rates for the Financial Year 2007-2008 and Assessment Year 2008-2009<\/p>\n<p><a href=\"https:\/\/www.theteamwork.com\/articles\/2016-2049-government-india-income-tax-slab-rates-ay-2007-2008.html\"><strong>Government of India &#8211; Income Tax Slab Rates for AY 2007-2008<\/strong><\/a><br \/>\nPersonal Income Tax Rates for the Financial Year 2006-2007 and Assessment Year 2007-2008<\/p>\n<p><a href=\"https:\/\/www.theteamwork.com\/articles\/2016-2048-government-india-income-tax-slab-rates-ay-2006-2007.html\"><strong>Government of India &#8211; Income Tax Slab Rates for AY 2006-2007<\/strong><\/a><br \/>\nPersonal Income Tax Rates for the Financial Year 2005-2006 and Assessment Year 2006-2007<\/p>\n<p><a href=\"https:\/\/www.theteamwork.com\/articles\/2016-2001-indian-government-plans-policies-projects.html\"><strong>Indian Government &#8211; Plans, Policies, and Projects<\/strong><\/a><br \/>\nGovernment of India \u2013 Current and Past Financial Plans, Policies, Programs, Projects, and Schemes<\/p>\n<div data-ad-id=\"8684\" style=\"text-align:left; margin-top:px; margin-bottom:px; margin-left:px; margin-right:px;float:none;\" class=\"afw afw-ga afw_ad afwadid-8684  \">\r\n                                                                <script async=\"\" src=\"\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js\"><\/script><ins class=\"adsbygoogle\" style=\"background:none;display:inline-block;width:336px;height:280px\" data-ad-client=\"ca-pub-7798450846111448\" data-ad-slot=\"2905808847\">\r\n                                                                <\/ins>\r\n                                                                <script>\r\n                                                                        (adsbygoogle = window.adsbygoogle || []).push({});\r\n                                                                <\/script>\r\n                                                                \r\n                                                        <\/div><\/p>","protected":false},"excerpt":{"rendered":"<p>Government of India has increased the basic personal income tax exemption limit from Rs. 200,000 to Rs. 250,000 for Financial Year 2014-2015 and Assessment Year 2015-2016. The new income tax rates or income tax slabs are effective from April 01, 2014.<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[18],"tags":[2987,2974,2977,2976,2975],"class_list":["post-3462","post","type-post","status-publish","format-standard","hentry","category-indian-government","tag-ay-2015-2016","tag-government-of-india","tag-income-tax-india","tag-income-tax-rates","tag-income-tax-slab"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Government of India - Income Tax Slab Rates for AY 2015-2016 - Articles<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.theteamwork.com\/articles\/2016-2057-government-india-income-tax-slab-rates-ay-2015-2016.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Government of India - Income Tax Slab Rates for AY 2015-2016 - Articles\" \/>\n<meta property=\"og:description\" content=\"Government of India has increased the basic personal income tax exemption limit from Rs. 200,000 to Rs. 250,000 for Financial Year 2014-2015 and Assessment Year 2015-2016. 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The new income tax rates or income tax slabs are effective from April 01, 2014.","og_url":"https:\/\/www.theteamwork.com\/articles\/2016-2057-government-india-income-tax-slab-rates-ay-2015-2016.html","og_site_name":"Articles","article_published_time":"2019-10-14T10:35:14+00:00","article_modified_time":"2019-10-14T17:39:00+00:00","og_image":[{"width":728,"height":101,"url":"https:\/\/www.theteamwork.com\/articles\/wp-content\/uploads\/2019\/10\/Ministry-of-Finance.jpg","type":"image\/jpeg"}],"author":"Om Vishnu Bishnoi","twitter_card":"summary_large_image","twitter_creator":"@theteamw","twitter_site":"@theteamw","twitter_misc":{"Written by":"Om Vishnu Bishnoi","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.theteamwork.com\/articles\/2016-2057-government-india-income-tax-slab-rates-ay-2015-2016.html#article","isPartOf":{"@id":"https:\/\/www.theteamwork.com\/articles\/2016-2057-government-india-income-tax-slab-rates-ay-2015-2016.html"},"author":{"name":"Om Vishnu Bishnoi","@id":"https:\/\/www.theteamwork.com\/articles\/#\/schema\/person\/f374d368393522341e8fb047b101a0fa"},"headline":"Government of India &#8211; 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