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