09 June 2016
SIR, IN ASSESSMENT YEAR 2016-17 WHAT IS TAX SLAB FOR A INDIVIDUAL (RESIDENT) MALE PERSON BELOW AGE 60 YEAR , IF FOR EXAMPLE THE NET INCOME IS - 310000/- SO THAT WHAT IS THE TAX AND ONE MORE QUERY THE REBATE U/S 87 A IS SAME THE PREVIOUS YEAR OR NOT
10 June 2016
Tax slab in AY 2016-17 is the same as in AY 2015-16 i.e. upto Rs. 250000/- is exempt from tax and there is additional rebate u/s 87A of Rs. 2000/- in total tax. the rebate u/s 87A is unchanged for AY 16-17 and it is increased to Rs. 5000/- for AY 17-18.
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