Find your annual salary tax in India using this income tax calculator 2016 - 17. This income tax calculator for AY 2016-17 helps the employees to easily find out the total tax. Income tax is the main source of fund where the government use it to fund its activities and serve the public. Income tax for an individual is calculated based on net taxable income, gender and residential status. For others like firms, LLP, company, or BOI it is calculated with the net taxable income.
India Income Tax Rate for 2016-17 from union budget get varies for different tax payers. No tax is levied for individuals who earn an annual income less than 2.5 lakhs, 10% tax rate is imposed for 2 to 5 lakhs, 20% for 5 to 10 lakhs and 30% for income above 10 lakhs.