Tax Slab Rate of Senior Citizens

Tax Slab Rate of Senior Citizens(60-79) for the ay 2014-2015

 In case of resident individual who is of the age of sixty years or more but not more than the age of eighty years during the previous year.

Total income up to 2,50,000

Nil

Total income in excess of 2,50,000 up to 5,00,000

10 % of the amount in excess of 2,50,000

Total income in excess of 5,00,000 up to 10,00,000

20 % of the amount in excess of 5,00,000 + 25,000

Total income in excess of 10,00,000

30 % of the amount in excess of 10,00,000 + 1,25,000

 

Surcharge: 10% of the Income Tax, where total taxable income is more than Rs. 1 crore. Marginal Relief in Surcharge,may be available.

Education cess: 3 % of income tax & surcharge

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