2/22/2016

Income Tax Slab Rates & Deductions for FY 2015-2016 & AY 2016-2017

HOME (/) INSURANCE KNOWLEDGE CENTRE (/INSURANCE-KNOWLEDGE-CENTRE)

TAX SAVING BY INSURANCE (/INSURANCE-KNOWLEDGE-CENTRE/TAX-SAVING-INSURANCE) INCOME TAX SLAB & DEDUCTIONS

Income Tax Slab Rate & Deductions - AY

2016 -17 (FY 2015-16)
HDFC Life Click 2 Protect Plus
source=W_Glink_KC_TaxSlab_CPP)

(http://ops.hdfclife.com/ops/click2protectPlus.do?

HDFCLife.com/Term-Insurance
Affordable Term Plan. Coverage upto 75yrs. Tax Benefits under Section 80C*.
Additional Accident Cover. Increase Life Cover on Child Birth & Marriage.

HDFC Life provides the latest income tax rates in India for different age groups and tax benefits offered by
various life insurance policies, for the current financial year 2015-16.
Save tax with HDFC Lifes various online insurance products.

Like

11

34

Tw eet

Tax Slab* for Financial Year 2013-14 (/insurance-knowledge-centre/latest-income-tax-slab-and-deductions-fy2013-14)

Tax Slab* for Financial Year 2014-15 (/insurance-knowledge-centre/latest-income-tax-slab-and-deductions-fy2014-15)
Tax Slab* for Financial Year 2015-16 (Assessment Year 16-17)
The income tax rates are usually revised every year during the budget. Various deductions that are allowed to
a taxpayer under Section 80C, Section 80D etc.

Income Tax Slab Rate

Following are the income tax slab rates and deductions for different categories of tax payers:

HDFC Life Investment Plan (http://ops.hdfclife.com/ops/click2invest.do?

source=W_Glink_KC_TaxSlab_C2I)
HDFCLife.com/Click2Invest-ULIP
Zero premium allocation charge, 8 fund options & flexibility to choose policy term.
Get Tax Benefits under Sec 80C*.

For Men Below 60 Years Of Age

Income Tax Slab

Income Tax Rate

Income upto Rs. 2,50,000

Nil

Income between Rs. 2,50,001 - Rs. 500,000

10% of Income exceeding Rs. 2,50,000

Income between Rs. 500,001 - Rs. 10,00,000

20% of Income exceeding Rs. 5,00,000

Income above Rs. 10,00,000

30% of Income exceeding Rs. 10,00,000

For Women Below 60 Years Of Age

Income Tax Slab

Income Tax Rate

Income upto Rs. 2,50,000

Nil

Income between Rs. 2,50,001 - Rs. 500,000

10% of Income exceeding Rs. 2,50,000

Income between Rs. 500,001 - Rs. 10,00,000

20% of Income exceeding Rs. 5,00,000

Income above Rs. 10,00,000

30% of Income exceeding Rs. 10,00,000

For Senior Citizens (Age 60 years or more but less than 80 years)
Income Tax Slab

(/)

Income Tax Rate

Income upto Rs. 3,00,000

Nil

Income between Rs. 3,00,001 - Rs. 500,000

10% of Income exceeding Rs. 3,00,000

Income between Rs. 500,001 - Rs. 10,00,000

20% of Income exceeding Rs. 5,00,000

Income above Rs. 10,00,000

30% of Income exceeding Rs. 10,00,000

For Senior Citizens (Age 80 years or more)

(http://ops.hdfclife.com/ops/click2protectPlus.do?source=W_Disp_KC_TopNav_CPP)
Income Tax Slab
UNDERSTANDING INSURANCE

(http://ops.hdfclife.com/ops/click2invest.do?
source=W_Disp_KC_LHS_C2I)

About Life Insurance

(/insuranceknowledgecentre/about-lifeinsurance/)

Income upto Rs. 5,00,000

INSURANCE FOR YOU

ONLINE TOOLS

Income Tax Rate

Nil

VIDEOS (/INSURANCE-KNOWLEDGE-CENTRE/VIDEO)

Income between Rs. 500,001 - Rs. 10,00,000

20% of Income exceeding Rs. 5,00,000

Income above Rs. 10,00,000

30% of Income exceeding Rs. 10,00,000

Income Tax Deductions and Exemptions

Income

Gross

Tax

Annual

Tax Can

Section

Salary

How Much
You Save?

HDFC Standard Life Plans

Upto Rs.

Sec. 80C

Across

46,350/-

all

saved on

All our Life Insurance Plans (/)

income

investment of

Buy Life Insurance and Save Tax (http://ops.hdfclife.com/ops/click2protectPlus.do?source=W_KC_Table_TaxSlab_CPP)

slabs

Rs.
1,50,000/Upto Rs.

http://www.hdfclife.com/insurance-knowledge-centre/latest-income-tax-slab-and-deductions/?source=C_Outbrain_C2I_Native_2016&utm_source=Outbrain&utm...

1/3

2/22/2016

Income Tax Slab Rates & Deductions for FY 2015-2016 & AY 2016-2017
Upto Rs.
Across

30,900/-

Sec.

all

saved on

80CCC

income

Investment

slabs

of

All our Pension Plans (/retirement-and-pension-plans)

Buy Pension Plans and Save Tax (http://ops.hdfclife.com/ops/main.do?
source=W_KC_Table_TaxSlab_PRR&category=CC&firstname=&mobilenumber=&city=&dob=&email=&productcode=PRR)

Rs.1,50,000/Upto Rs.
10,815/saved on
investment of
Rs.35,000/-

Across

All our Health Insurance Plans (/health-insurance-plans)

All the health insurance riders available with our Conventional Plans

Sec. 80

all

D*

income

Buy Health Insurance and Save Tax (https://onlineinsurance.hdfclife.com/buy-online-health-insurance-plans/health-

(Inclusive of Rs.

slabs

assure-plan?source=W-TEBT_KC_Table_TaxSlab_HRN)

20,000/towards health
insurance of
parents who are
senior citizens)

Rs. 57,165/Total
Savings

Rs. 46,350/- under Sec. 80C and Sec. 80CCC and

Possible
Rs. 10,815/- under Sec. 80D

**

Above figures calculated for an individual with gross annual income exceeding Rs. 10,00,000/-

Sec. 10
(10)D

Under Sec. 10(10D), the benefits received by you are completely tax-free, subject to conditions specified there in

Applicable to premiums paid for all Health Insurance Plans (/health-insurance-plans), Critical Illness Benefit, Accelerated Sum Assured and Waiver of Premium
Benefit.
** These calculations of the latest income tax slab rates in India are illustrative and based on our understanding of current tax legislations.
The above-mentioned tax benefits are subject to changes in the tax laws. Please contact your tax consultant for an exact calculation of your tax liabilities.

HDFC Life E-agent

Save Tax with Term Insurance - Calculate Premium
(http://ops.hdfclife.com/ops/click2protectPlus.do?
source=W_BodyBO2_KC_TaxSlab_CPP)

Save Income Tax with Insurance

HDFC Life
HDFC Life
HDFC Life
HDFC Life
Click2Protect
Click2Invest Health Assure
Super Income
Plus
ULIP
Plan
Plan
(http://ops.hdfclife.com/ops/click2protectPlus.do?
(http://ops.hdfclife.com/ops/click2invest.do?
(https://onlineinsurance.hdfclife.com/buy(http://ops.hdfclife.com/ops/main.do?
source=W_KC_Table_TaxSlab_CPP)
source=W_KC_Table_TaxSlab_UC1)
online-healthsource=W_KC_Table_TaxSlab_MBU&category=CC&firstname=&mobilenumber=&city=&dob=&email=&productcode=MBU)
insuranceAffordable Term Plan.
Zero
premium
Investment
cum
plans/healthCoverage upto 75yrs.
allocation charge, 8
insurance plan with
assure-plan?
Tax Benefits under
fund options. Get Tax
guaranteed benefits to
source=WSection 80C*.
Benefits under Sec
meet your long term
TEBT_KC_Table_TaxSlab_HRN)
80C*.

Buy

online

>>

Buy

Avail
online

>>

Instant

financial goals.

Health

Buy

Insurance Policy with

online

>>

(http://ops.hdfclife.com/ops/click2protectPlus.do?
(http://ops.hdfclife.com/ops/click2invest.do?
Tax Benefits under Sec

(http://ops.hdfclife.com/ops/main.do?

source=W_KC_Table_TaxSlab_CPP)
source=W_KC_Table_TaxSlab_UC1)
80D*.

source=W_KC_Table_TaxSlab_MBU&category=CC&firstname=&mobilenumber=&city=&dob=&email=&productcode=MBU)

Buy

online

>>

(https://onlineinsurance.hdfclife.com/buyonline-healthinsuranceplans/health-assureplan?source=WTEBT_KC_Table_TaxSlab_HRN)

* Calculations are based on highest tax benefits.

Note: These tax calculations are based on present tax legislations, which are subject to change Under section
80CCE, The aggregate deductions from income under Sections 80C, 80CCC and 80CCD (applicable in case of
central government employees only) should not exceed Rs 1.5 lakhs (except an additional saving of
Rs.50,000 under section 80CCD (1B) per assessment year - applicable FY 2015-16/AY 2016-17 onwards).

HDFC
Life
Click
2
(http://ops.hdfclife.com/ops/click2protectPlus.do?
source=W_Glink_KC_TaxSlab_CPP)

Protect

Plus

HDFCLife.com/Term-Insurance
Affordable Term Plan. Coverage upto 75yrs. Tax Benefits under Section 80C*.
Additional Accident Cover. Increase Life Cover on Child Birth & Marriage.

Similar Articles
Best Long Term Investment Options in 2015 (http://www.hdfclife.com/insurance-knowledge-centre/taxsaving-insurance/best-long-term-investment-options-in-2015/)
Best Short Term Investment Options in 2015 (http://www.hdfclife.com/insurance-knowledge-centre/taxsaving-insurance/best-short-term-investment-options-in-2015/)
Best Tax Saving Investment Plans in 2015 (http://www.hdfclife.com/insurance-knowledge-centre/taxsaving-insurance/tax-saving-investments-in-2015/)
Tips on Reducing Premium (/insurance-knowledge-centre/about-life-insurance/tips-on-reducing-premiums)
Tax Saving Investment (http://ops.hdfclife.com/ops/click2protectPlus.do?
source=W_KC_BodyLinks_TaxSlab_CPP)
Tax Saving Tips For Salaried Employees (http://www.hdfclife.com/insurance-knowledge-centre/tax-savinginsurance/tax-planning-tips-for-salaried-employees/)
Tax Free Investments in India (http://www.hdfclife.com/insurance-knowledge-centre/tax-savinginsurance/tax-free-income-and-investment-options-for-2015/)

BLOG (HTTP://BLOG.HDFCLIFE.COM/)

ABOUT US (/ABOUT-US)

QROPS (/RETIREMENT-AND-PENSION-PLANS/QROPS-OVERSEAS-PENSION-SCHEME)

PAYMENT PREMIUM (/CUSTOMER-SERVICE/PAY-PREMIUM)

E- INSURANCE (/CUSTOMER-SERVICE/LIFE-INSURANCE-POLICY-DEMATERIALIZATION)

CUSTOMER EDUCATION (/INSURANCE-KNOWLEDGE-CENTRE)

PUBLIC DISCLOSURES (/ABOUT-US/FINANCIAL-INFORMATION)

Click 2 Get A Call

Click 2 Call Us

Click 2 Text Us

Talk to our Insurance Advisor

Insurance plans for you

SMS LIFE to 56161

Click 2 Email Us
buyonline@hdfclife.in

to get the right insurance plan for

1800 266 9777

(sms:56161)

(mailto:buyonline@hdfclife.in)

you

(tel:18002669777)/1800 227 227

(Charges applicable as per

service

Well do our best to respond to your

(tel:1800227227) (Local Charges

provider)

CLICK 2 GET A CALL

(/CONTACTUS/CALL-ME-NOW)

queries asap

Applicable*)
*Mon-Sun 9am to 9pm. Do NOT prefix

CLICK 2 EMAIL US

http://www.hdfclife.com/insurance-knowledge-centre/latest-income-tax-slab-and-deductions/?source=C_Outbrain_C2I_Native_2016&utm_source=Outbrain&utm...

2/3

2/22/2016

Income Tax Slab Rates & Deductions for FY 2015-2016 & AY 2016-2017
US/CALL-ME-NOW)

(MAILTO:BUYONLINE@HDFCLIFE.IN)

any country code. eg. +91 or 00

CONTACT (/CONTACT-US) SITEMAP (/SITEMAP) DISCLAIMER (/DISCLAIMER) PRIVACY POLICY (/PRIVACY-POLICY)

TERMS & CONDITIONS (/TERMS-AND-CONDITIONS)
2016 HDFC Standard Life Insurance Company Limited. All Rights Reserved.

HDFC Life (HDFC Standard Life Insurance Company) is one of the leading

private life insurance companies in India offering various insurance policies that best
suits your need. Our vision is to provide innovative and customer-centric insurance

call-registration)

plans that can help our customers secure their family's future as well as help them

Unclaimed Policy Details (/customer-

Corporate Office & Registered Address

service/claims/unclaimed-

HDFC Standard Life Insurance Company Ltd.

policyholder-payment-dues-amount-

Lodha Excelus, 13th Floor Apollo Mills Compound,

disclosure)

N.M. Joshi Marg, Mahalaxmi, Mumbai 400011,

Maharashtra, India.

Telephone (022) 67516666

(http://www.hdfcbank.com/)

Insurance Ombudsman

No

101,

granted

on

23rd

October,

2000

by IRDAI.

HDB Financial Services

(http://www.hdbfs.com/)
(http://www.irda.gov.in/ADMINCMS/cms/NormalData_Layout.aspx?

HDFC Realty
(http://www.hdfcrealty.com/)

IRDAI Customer Education Website

HDFC Red
(http://www.hdfcred.com/)

Insurance is the subject matter of the solicitation. For more details on risk factors,

Registration

HDFC ERGO General Insurance

(http://www.hdfcergo.com/)

before concluding a sale. HDFC Standard Life Insurance Company Limited.

HDFC Pension
(http://www.hdfcpension.com/)

For more details on risk factors, terms and conditions and exclusion please read the

associated terms and conditions and exclusions please read the product brochure

HDFC Mutual Fund

(http://www.hdfcfund.com/)

(http://www.policyholder.gov.in/)

product brochure before conclusion of sale.

HDFC Securities
(http://www.hdfcsec.com/)

IRDAI (http://www.irda.gov.in/)

page=PageNo234&mid=7.2)

Disclaimer

HDFC Bank

spurious-calls)

ULIPs, saving and investment plans. Most of these life insurance policies are
available online, so buy one today and Sar Utha Ke Jiyo

HDFC Ltd (http://www.hdfc.com/)

IRDAI Public Notice on Spurious

Calls (/irda-public-notice-on-

insurance plans, pension plans for retirement planning, child education plans,

Terminated Agent List

(/terminated-agents-list)

with other benefits such as tax savings. Keeping this in mind we offer a large
range of life insurance plans such as term insurance plan, women's plan, health

Do Not Call Registration (/do-not-

HDFC Property Fund

(http://www.hdfcpropertyfund.com/)

Credila (http://www.credila.com/)

ARN:

MC/08/2013/3534!

http://www.hdfclife.com/insurance-knowledge-centre/latest-income-tax-slab-and-deductions/?source=C_Outbrain_C2I_Native_2016&utm_source=Outbrain&utm...

3/3