Employees planing to save their taxable income by investments as per sections first we look into slab rates and savings limits.
Taxable Income range | Income-tax rates | Education Cess | Secondary and higher Education Cess |
Up to Rs. 2,50,000 | Nil | Nil | Nil |
Rs. 2,50,000 – Rs. 5,00,000 | 10% on above Rs.2,50,000 income | 2% of income-tax | 1% of income-tax |
Rs. 5,00,000 – Rs. 10,00,000 | Rs. 25,000 + 20% on Rs. 5,00,000 above income | 2% of income-tax | 1% of income-tax |
Above Rs. 10,00,000 | Rs. 1,25,000 + 30% on Rs. 10,00,000 above income | 2% of income-tax | 1% of income-tax |
Savings under various sections
TS Income Tax FY 2015 - 16 Full Version 4.1 - Download uploaded as on 13.02.2016
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