Effective Income Tax Rate for 2016-17 ..! - MYREALITY.In, Real Estate, Share Market, Mutual Fund, Insurance
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Saturday, August 27, 2016

Effective Income Tax Rate for 2016-17 ..!

Effective Income Tax Rate for 2016-17

Besides the income tax rate, education cess is also charged. The cess is a tax on the tax.

For a normal individual, the cess is 3%. Because of this cess the effective tax rates translates into 10.3%, 20.6% & 30.9% according to the income tax slabs.

Effective Income Tax of individuals (below 60 years)


Income Slab Rs.
Tax Rate
Education Cess
Aggregate Tax Rate
0 – 2.5 Lakh
Nil
Nil
Nil
2.5 – 5.0 Lakh
10.00%
3.00%
10.30%
5.0 – 10.0 Lakh
20.00%
3.00%
20.60%
Above 10 Lakh
30.00%
3.00%
30.90%

Effective Income Tax Rate of senior Citizens

Income Slab Rs.
Tax Rate
Education Cess
Aggregate Tax Rate
0 – 3.0 Lakh
Nil
Nil
Nil
3.0 – 5.0 Lakh
10.00%
3.00%
10.30%
5.0 – 10.0 Lakh
20.00%
3.00%
20.60%
Above 10 Lakh
30.00%
3.00%
30.90%

Effective Tax Rate for Super Senior Citizens

Income Tax Slab Rs.
Tax Rate
Education Cess
Aggregate Tax Rate
0 – 5.0 Lakh
Nil
Nil
Nil
5.0 – 10.0 Lakh
20.00%
3.00%
20.60%
Above 10 Lakh
30.00%
3.00%
30.90%



Effective Income Tax Rate for 2016-17 ..! Reviewed by S. Chitra on August 27, 2016 Rating: 5 Effective Income Tax Rate for 2016-17 Besides the income tax rate, education cess is also   charged. The cess is a tax on the tax. Fo...

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