PART II: Income Tax Slab for Senior Citizens (60 Years Old Or More but Less than 80 Years Old)(Both Men & Women)
| Income Slab | Tax Rate | ||
|---|---|---|---|
| Income up to Rs 3,00,000* | No tax | ||
| Income from Rs 3,00,000 – Rs 5,00,000 | 5% | ||
| Income from Rs 5,00,000 – 10,00,000 | 20% | ||
| Income more than Rs 10,00,000 | 30% | ||
| Surcharge: 10% of income tax, where total income exceeds Rs.50 lakh upto Rs.1 crore.
Surcharge: 15% of income tax, where the total income exceeds Rs.1 crore.
| |||
| Cess: 3% on total of income tax + surcharge. | |||
| *Income tax exemption limit for FY 2017-1 is up to Rs. 3,00,000 other than those covered in Part(I) or (III) | |||
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