Electronic Verification of ITRV

ITR-V can not now be verified online using Aadhar card and / or net banking. This is a much awaited initiative from Income tax department which is welcomed by all income tax payers.

Step by step guide on how to verify ITRV online is given below:

You can also visit Online Verification of ITR V 

Income Tax Rates for 2015-2016

Income Tax Rates for Assessment year 2016-2017:

Income Tax Rates/Slab for Assessment Year 2016-17	Rates/ %age
Up to 2,50,000 Up to 2,50,000 (for women) Up to 3,00,000 (for resident individual of 60 years till 80 years)	Nil
250,001 – 5,00,000 Up to 500,000 (for resident individual of 80 years and above, Tax is nil)	10% Nil
5,00,001 – 10,00,000	20%
10,00,001 upwards	30%

Education Cess of 3% is also applicable to Income Tax computed as per above slab.

There is no change in Income tax rates for year 2015-16. It is same as last year 2014-15 (AY 2015-16).

Source: http://incometaxreturnindia.com/income-tax-slabs/#Assessment year 2016-2017