Income Tax Slab A.Y.2018-19

Print Friendly, PDF & Email

The page is exclusively for income tax slab for A.Y. 2018-19. You can also download income tax slabs in PDF format.

Download Income Tax Slab A.Y. 2018-19 & A.Y.2017-18

Income Tax Slab (PDF Format)Download
Income Tax Slab (Excel Format)Download

Income Tax Slab A.Y. 2018-19

1) Income Tax Slab (Up to 60 Years Age)

Income Tax Slab for Individuals, HUF, AOP/BOI & artificial juridical person up to 60 years of age (born on or after April 2, 1958)

 IncomeTax Rates
i)Income up to 2.5 lakhNIL
ii)Income From 2.5 Lakh to 5 Lakh5% on income over Rs. 2.5 Lakh
iii)Income from 5 Lakh to 10 LakhRs. 12,500/- +20% on above income 5 lakh
iv)Income above 10 lakhRs. 1,12,500 + 30% on income above 10 lakh
v)Surcharge will be applicable @ 10% when total taxable income is over 50 lacs but less than 1 crore.
@ 15% if income is over 1 core
vi)3% Education Cess, Secondary & Higher Education Cess will be applicable on income tax & surcharge
Rebate u/s 87A: A resident individual (whose net income does not exceed Rs.3,50,000) can avail rebate under section 87A. It is deductible from income-tax before calculating seduction cess. The amount of rebate is 100% of income tax or Rs.2,500 whichever is less.

2) Income Tax Slab (Senior Citizens) (60 to 80 Years Age)

Income Tax Slab for Individuals, HUF, AOP/BOI & artificial juridical person (Who is 60 years or more at any time during the previous year but less than 80 years on the last date of the previous year) i.e. born on or after April 2, 1938 but before 2, 1958.

 IncomeTax Rates
i)Income up to 3 lakhNIL
ii)Income From 3 Lakh to 5 Lakh5% on income over Rs. 3 Lakh
iii)Income from 5 Lakh to 10 LakhRs. 10,000/- +20% on above income 5 lakh
iv)Income above 10 lakhRs. 1,10,000 + 30% on income above 10 lakh
v)Surcharge will be applicable @ 10% when total taxable income is over 50 lacs but less than 1 crore.
@ 15% if income is over 1 core
vi)3% Education Cess, Secondary & Higher Education Cess will be applicable on income tax & surcharge
Rebate u/s 87A: A resident individual (whose net income does not exceed Rs.3,50,000) can avail rebate under section 87A. It is deductible from income-tax before calculating seduction cess. The amount of rebate is 100% of income tax or Rs.2,500 whichever is less.

3) Income Tax Slab (Super Senior Citizens) (Above 80 Years Age)

Income Tax Slab for Individuals, HUF, AOP/BOI & artificial juridical person above 80 years or age i.e. born before April 2, 1938.

 IncomeTax Rates
i)Income up to 5 lakhNIL
iii)Income from 5 Lakh to 10 Lakh20% on above income 5 lakh
iv)Income above 10 lakhRs. 1,00,000 + 30% on income above 10 lakh
v)Surcharge will be applicable @ 10% when total taxable income is over 50 lacs but less than 1 crore.
@ 15% if income is over 1 core
vi)3% Education Cess, Secondary & Higher Education Cess will be applicable on income tax & surcharge
Rebate u/s 87A: A resident individual (whose net income does not exceed Rs.3,50,000) can avail rebate under section 87A. It is deductible from income-tax before calculating seduction cess. The amount of rebate is 100% of income tax or Rs.2,500 whichever is less.

Recommended: Check Income Tax Calculator A.Y. 2018-19


Check Income Tax Slab for Others

Partnership Firms & LLPs
Companies
Capital Gains Taxes
TDS Rates
TCS Rates
Australia

Related Information

Comments are closed.