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Income Tax slabs and key tax legislation for the FY 2015-16 (AY 2016-17)

Tax slabs for Individuals of below 60 years (Born on or after 01.04.1956). A). Up to Rs.2, 50,000: – Nil B). From Rs.2, 50,001 to Rs.5, 00,000:– 10% on taxable income which exceeds Rs. 2, 50,000/-. C). From Rs.5, 00,001 to Rs.10, 00,000:- 20% [Rs.25, 000/-+ 20% on amount which exceeds Rs. 2, 50,000/-] D).…

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