Income Tax Rates.
Assessment Year(AY)2016-17/ Financial Year (FY) 2015-16
(i)Individual (other than those mentioned in (ii) and (iii) below)
Rs. 2,50,001 to Rs. 5,00,000	10 per cent of total income in excess of 2,50,000.
Rs. 5,00,001 to Rs. 10,00,000	25000+20% of total income in excess of 5,00,000
Above Rs. 10,00,000	1,25,000+30% of total income in excess of 10,00,000
(ii)Senior Citizens age 60 yrs to less than 80 yrs
Upto Rs. 3,00,000	Nil.
Rs. 3,00,001 to Rs. 5,00,000	10% of total income in excess of 3,00,000
Rs. 5,00,001 to Rs.10,00,000	20000+20% of total income in excess of 5,00,000
Above Rs. 10,00,000	120000+30% of total income in excess of 10,00,000
(ii)Senior Citizens age 80 yrs and above.
Upto Rs. 5,00,000	Nil.
Rs. 5,00,001 to Rs. 10,00,000	20% of total income in excess of 5,00,000
Above Rs. 10,00,000	100000+30% of total income in excess of 10,00,000

Notes :

1. Rebate under section 87A - A resident individual (whose net income does not exceed Rs. 5,00,000) can avail rebate under section 87A. It is deductible from income-tax before calculating education cess. The amount of rebate is 100 per cent of income-tax or Rs. 2,000, whichever is less.
2. Education cess - It is 2 per cent of income-tax and surcharge.
3. Secondary and higher education cess - It is 1 per cent of income-tax and surcharge.
4. Surcharge - Surcharge is 10 per cent of income-tax if net income exceeds Rs. 1 crore. It is subject to marginal relief (in the case of a person having a net income of exceeding Rs. 1 crore, the amount payable as income tax and surcharge shall not exceed the total amount payable as income-tax on total income of Rs. 1 crore by more than the amount of income that exceeds Rs. 1 crore).
* Alternate minimum tax -?Tax payable by a non-corporate assessee cannot be less than 18.5 per cent?(+SC+EC+SHEC) of “adjusted total income” as per section 115JC

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Income Tax Rates-FY 2015-16.	Income Tax Rates-FY 2014-15.	Income Tax Rates-FY 2013-14.