INCOME TAXSLABS 2016-17 (For Salaried Persons) Finance Act 2016

Here is the Finance Act 2016 for the Salaried Persons these are the Income Taxslabs 2016-2017. Where

Any Salary person can find its taxable income and the rate of tax on his income like where there is taxable income does not exceed Rs 400,000 its rate of tax is 0%

INCOME TAXSLABS 2016-17

(For Salaried Persons)

Finance Act 2016

S.No. Taxable Income Rate of tax

(1) (2) (3)

1. Where the taxable income does not exceed 0%

Rs.400,000

2. Where the taxable income exceeds Rs.400,000 5% of the amount exceeding

-- but does not exceed Rs.750,000 Rs.400,000

3 Where the taxable income exceeds Rs.750,000 || Rs.17,500 + 10% of the amount - but does not exceed Rs.1,400,000 exceeding Rs.750,000

4. Where the taxable income exceeds Rs.1,400,000 | Rs.82,500 + 12.5% of the amount - but does not exceed Rs.1,500,000 exceeding Rs.1,400,000

5 Where the taxable income exceeds Rs.1,500,000 || Rs.95,000 + 15% of the amount - but does not exceed Rs.1,800,000 exceeding Rs.1,500,000

6 Where the taxable income exceeds Rs.1,800,000 Rs.140,000 + 17.5% of the - but does not exceed Rs.2,500,000 amount exceeding Rs.1,800,000

7 Where the taxable income exceeds Rs.2,500,000 | Rs.262,500 + 20% of the amount - but does not exceed Rs.3,000,000 exceeding Rs.2,500,000

8 Where the taxable income exceeds Rs.3,000,000 Rs.362,500 + 22.5% of the - but does not exceed Rs.3,500,000 amount exceeding Rs.3,000,000

9 Where the taxable income exceeds Rs.3,500,000 || Rs.475,000 + 25% of the amount - but does not exceed Rs.4000,000 exceeding Rs.3,500,000

10. Where the taxable income exceeds Rs.4000,000 Rs.600,000 + 27.5% of the

but does not exceed Rs.7,000,000 amount exceeding Rs.4,000,000

11. Where the taxable income exceeds Rs.7,000,000 Rs.1,425,000 + 30% of the

amount exceeding Rs.7,000,000)