Yesterday Finance Minister presented the budget. Let us now see the Income Tax Slab Rates for FY 2016-17. There is no confusion now. Because no such big changes in tax slabs.
As I wrote yesterday on my analysis on Budget 2016, it is clear that there is no change in individual’s Income Tax Slab Rates for FY 2016-17.
You can read my complete Budget analysis at “Budget 2016 : 25 changes and how they will affect you?“.
It is as below.
The tax slabs are categorized as
#Individual below 60 years of age.
# Individual above 60 years of age but below 80 years of age.
#Individual above 80 years of age.
Below is the chart about Capital Gain Tax for FY 2016-17 (AY 2017-18)
Tax effect on Dividend received by holders–
Equity oriented-NIL and Debt oriented-Nil. However from Budget 2016, 10% Tax levied if your dividend income is more than Rs.10 lakh per year.
Security Transaction Tax (STT) Rates for FY 2016-17 (AY 2017-18)
Here, a slight change from Budget 2016. When you sell any option contract in Future and Option Market of stock exchange, then seller have to pay the STT tax. This was earlier at 0.017%. But it is now increased to 0.05%.
I hope this much information is enough to understand the Income Tax Slab Rates for FY 2016-17.