Tax applicable for individuals below 60 years

 

Annual Income

Tax Rates

Up to Rs.2,50,000

Nil

Rs.2,50,001-Rs.5,00,000

5%

Rs.5,00,001-Rs.10,00,000

Rs.12,500 + 20%

Above Rs.10,00,000

Rs.1,12,500 + 30%


Tax applicable for individuals over 60 years and under 80 years

 

Annual Income

Tax Rates

Up to Rs.3,00,000

Nil

Rs.3,00,001-Rs.5,00,000

5%

Rs.5,00,001-Rs.10,00,000

Rs.10,000 + 20%

Above Rs.10,00,000

Rs.1,10,000 + 30%

 

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