Income tax limit in India
1 April 2015 to 31 March 2016 for the financial year.

If your age less than 60 years, this following tax system will be applicable
• Upto  2.5 Lac – No Tax
• Between 2.5 Lac to 5 Lac – 10% income tax
• Between 5 Lac to 10 Lac – 20% + 25,000Rs you need pay as a tax
• More than 10 Lac – 30% + 1,25,000Rs you need to pay a tax

If your age between 60 years to 80 years, this following tax system will be applicable
• Upto 3 Lac in the year – No Tax
• Between 3 Lac to 5 Lac – 10% income tax applicable
• Between 5 Lac to 10 Lac – 20% + 20,000Rs you need to pay a tax
• More than 10 lac – 30% + 1,20,000Rs you need to pay.

If your age is above 80years this following tax system will be applicable
• Upto 5 Lac – No Tax
• Between 5 Lac to 10 Lac – 20% income tax
• More than 10 lac – 30% + 1,00,000Rs you need to pay a tax

NRI income tax plan in India
• Upto 2.5 Lac – No Tax
• Between 2.5 Lac to 5 Lac – 10%
• Between 5 Lac to 10 Lac – 20% + 25,000Rs
• More than 10 Lac – 30% + 1,25,000Rs

 

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