Tax Slabs for Seniors and Super Seniors

Slab 1

For income up to Rs. 2.5 lakh, there is no tax.

Slab 2

For income above Rs 2.5 lakh to up to Rs 5 lakh, is 5%.

Slab 3

Over Rs 5 lakh to up to Rs 7.5 lakh, is Rs 12,500 + 10% above Rs 5 lakh.

Slab 4

Over Rs 7.5 lakh to up to Rs 10 lakh, is Rs 37,500 + 15% above Rs 7.5 lakh.

Slab 5

Over Rs. 10 lakh up to Rs. 12.5 lakh, the amount is Rs. 75,000 plus 20 per cent above Rs. 10 lakh.

Slab 6

For income of more than Rs. 12.5 lakh up to Rs. 15 lakh, it is Rs. 1.25 lakh plus 25 percent above Rs 12.5 lakh.

Slab 7

Above Rs. 15 lakh, it is Rs. 1,87,500 plus 30 per cent above Rs. 15 lakh.

Compiled By Himani Verma