INCOME TAX SLAB RATES FOR 2017-18 FY( 2018-19 AY)
Income
Slab
|
Tax Rate
|
Income up
to Rs 2,50,000*
|
No Tax
|
Income
from Rs 2,50,000 – Rs 5,00,000
|
5%
|
Income
from Rs 5,00,000 – 10,00,000
|
20%
|
Income
more than Rs 10,00,000
|
30%
|
Surcharge:
10% of income tax, where total income is between Rs. 50 lakhs and Rs.1 crore. 15% of income tax, where total income exceeds Rs.1 crore. |
|
Cess: 3% on total of income
tax + surcharge.
|
|
*Income Tax Exemption limit
per FA 2016, is up to Rs. 2,50,000 for Individual & HUF other than those
covered in Part(II) or (III)
|
|
Income
tax slab for senior citizens (60 years old or more but less than 80 years old)
(both men & women)
Income
Slab
|
Tax
Rate
|
Income up
to Rs 3,00,000*
|
No Tax
|
Income
from Rs 3,00,000 – Rs 5,00,000
|
10%
|
Income
from Rs 5,00,000 – 10,00,000
|
20%
|
Income
more than Rs 10,00,000
|
30%
|
Surcharge: 12% of income tax, where total income exceeds Rs.1 crore.
|
|
Cess: 3% on total of income tax + surcharge.
|
|
*Income Tax Exemption limit per FA
2016, is up to Rs. 3,00,000 other than those covered in Part(I) or (III)
|
|
Income
tax slab for super senior citizens (80 years old or more) (both men &
women)
Income
Slab
|
Tax
Rate
|
Income up
to Rs 2,50,000*
|
No Tax
|
Income up
to Rs 5,00,000*
|
No tax
|
Income
from Rs 5,00,000 – 10,00,000
|
20%
|
Income
more than Rs 10,00,000
|
30%
|
Surcharge: 12% of income tax, where total income exceeds Rs.1 crore.
|
|
Cess: 3% on total of income tax + surcharge.
|
|
*Income Tax Exemption limit per FA
2016, is up to Rs. 5,00,000 other than those covered in Part(I) or (II)
|
|