I. Individual Resident below 60 years of age

Income Slabs Tax Rates
Less than Rs. 2,50,000 NIL
2,50,000 to 5,00,000 10% of the amount that exceeds 2,50,000
5,00,000 to 10,00,000 25,000 + 20% of the amount that exceeds 5,00,000
More than 10,00,000 1,25,000 + 30% of the amount that exceeds 10,00,000
3% Education Cess and Net Surcharge (15%, only if taxable income is more than Rs. 1 crore).
Below 60

II. Individual Resident above 60 years of age and below 80 years

Income Slabs Tax Rates
Less than Rs. 3,00,000 NIL
3,00,000 to 5,00,000 10% of the amount that exceeds 3,00,000
5,00,000 to 10,00,000 20,000 + 20% of the amount that exceeds 5,00,000
More than 10,00,000 1,20,000 + 30% of the amount that exceeds 10,00,000
3% Education Cess and Net Surcharge (15%, only if taxable income is more than Rs. 1 crore).
Above 60

III. Individual Resident above 80 years of age

Income Slabs Tax Rates
Less than Rs. 5,00,000 NIL
5,00,000 to 10,00,000 20% of the amount that exceeds 5,00,000
More than 10,00,000 1,00,000 + 30% of the amount that exceeds 10,00,000
3% Education Cess and Net Surcharge (15%, only if taxable income is more than Rs. 1 crore).
Above 80