For the financial year 2014-15 the new income tax rules has been applied, individuals with below Rs 2,50,000 are under Tax payable. Check out Income Tax Slab for Year 2014-15, Section 80C has been increased to Rs 1,50,000 and also PPF Public Provident Fund saving also increased to Rs 1,50,000 from Rs 1,00,000.
Income Range | General Category | Women | Senior Citizens above 60 years |
Under Rs 2,50,000 | No Tax | No Tax | No Tax |
Rs 2,50,001 to Rs 3,00,000 | 10% | 10% | No Tax |
Rs 2,50,001 to Rs 5,00,000 | 10% | 10% | 10% |
Rs 5,00,001 to Rs 10,00,000 | 20% | 20% | 20% |
Above Rs 10,00,000 | 30% | 30% | 30% |