#AP& Telangana Income Tax 2015-16 IT Calculation Financial Year 2015-16 Income Tax Model Calculation Financial Year 2015-16 (A. Y. 2016-17). Income Tax 2015-16 Model Tax Calculation Software Financial Year 2015-16 AP & TELANGANA Details of income Tax Calculation for the salaried for the Financial Year 2015-16, Assessment Year 2016-17 I) Income Tax Slabs For Men & women employees Upto Rs. 2.5 Lakhs Nil From Rs. 2.5 to 5 Lakhs@ 10% From Rs. 5 to 10 Lakhs @20% Above Rs. 10 Lakhs @30% For senior citizens above 60 yrs. Upto Rs. 3 Lakhs Nil From Rs. 3 to 5 Lakhs @ 10% From Rs. 5 to 10 Lakhs@20% Above Rs. 10 Lakhs @30% II) Surcharge & Cessess : i) Surcharge @ 0% will be levied below Rs. 1 crore ii) Education Cess @ 3% on I.T. paid. III) 100% Exemption from Income : HRA as per formula u/s 10, (without counting D.A.) Con-veyance allowance u/s 10 Rs. 3,200/- p.m. Medical Reim-bursement, P.T. u/s 16, Housing Lo
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