Wednesday, December 3, 2014

Income Tax Slab Rates, Deductions and Exemptions for Financial Year 2014-15 (Assessment Year 15-16) -

Tax Slab for Financial Year 2014-15 (Assessment Year 15-16)

Income Tax Deductions and Exemptions

Total Savings Possible **: Rs. 57,165/-,
Rs. 46,350/- under Sec. 80C and Sec. 80CCC and 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, Critical Illness Benefit, Accelerated Sum Assured and Waiver of Premium Benefit. ** These calculations 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.


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