Tax slab 2014-15

The tax slabs for senior citizens for the Assessment Year 2014-15 (Financial Year 2013-14) were as follows:

• Taxable income up to Rs. 2,50,000:  Nil
• Taxable income between Rs. 2,50,000 and Rs. 5,00,000:  10% of the amount by which the taxable income exceeds Rs. 2,50,000
• Taxable income between Rs. 5,00,000 and Rs. 10,00,000:  Rs. 25,000 + 20% of the amount by which the taxable income exceeds Rs. 5,00,000
• Taxable income above Rs. 10,00,000:  Rs. 125,000 + 30% of the amount by which the taxable income exceeds Rs. 10,00,000

(i) In the case of senior citizen less than eighty years at any time during the previous year,—
Upto Rs. 2.5 lakhs- Nil.
Rs. 2.5 lakhs to Rs. lakhs - 10%
Rs. 5 lakhs to Rs.10 lakhs- 20% Above Rs. 10 lak - 30%

(ii) Senior Citizen More than 80 years
Upto Rs. 5 lakhs - Nil Rs. 5 lakhs to Rs. 10 lakhs - 20% Above Rs. 10 lakhs -30%