Income Tax Slabs for Individual Tax Payers & HUF (Less Than 60 Years Old) for FY 2018-19 –Part I
| Income Tax Slabs | Tax Rate | Health and Education Cess | Surcharge: 10% of income tax, where total income exceeds Rs.50 lakh up to Rs.1 crore. Surcharge: 15% of income tax, where the total income exceeds Rs.1 crore. *Income tax exemption limit for FY 2018-19 is up to Rs. 2,50,000 for individual & HUF other than those covered in Part(II) or (III) |
| Income up to Rs 2,50,000* | No tax | ||
| Income from Rs 2,50,001 – Rs 5,00,000 | 5% | 4% of Income Tax | |
| Income from Rs 5,00,001 – 10,00,000 | 20% | 4% of Income Tax | |
| Income more than Rs 10,00,000 | 30% | 4% of Income Tax |
Income Tax Slabs for Senior Citizens (60 Years Old Or More but Less than 80 Years Old) for FY 2018-19 –Part II
| Income Tax Slabs | Tax Rate | Health and Education Cess | Surcharge: 10% of income tax, where total income exceeds Rs.50 lakh up to Rs.1 crore. Surcharge: 15% of income tax, where the total income exceeds Rs.1 crore. *Income tax exemption limit for FY 2018-19 is up to Rs. 3,00,000 other than those covered in Part(I) or (III) |
| Income up to Rs 3,00,000* | No tax | ||
| Income from Rs 3,00,001 – Rs 5,00,000 | 5% | 4% of Income Tax | |
| Income from Rs 5,00,001 – 10,00,000 | 20% | 4% of Income Tax | |
| Income more than Rs 10,00,000 | 30% | 4% of Income Tax |
Income Tax Slabs for Senior Citizens(80 Years Old Or More) for FY 2018-19 –Part III
| Income Tax Slabs | Tax Rate | Health and Education Cess | Surcharge: 10% of income tax, where total income exceeds Rs.50 lakh up to Rs.1 crore. Surcharge: 15% of income tax, where the total income exceeds Rs.1 crore. *Income tax exemption limit for FY 2018-19 is up to Rs. 5,00,000 other than those covered in Part(I) or (II) |
| Income up to Rs 5,00,000* | No tax | ||
| Income from Rs 5,00,001 – 10,00,000 | 20% | 4% of Income Tax | |
| Income more than Rs 10,00,000 | 30% | 4% of Income Tax |
Income Tax Slabs for Domestic Companies for FY 2018-19 –Part IV
| Turnover Particulars | Tax Rate | In addition cess and surcharge is levied as follows: Cess: 4% of corporate tax Surcharge: Taxable income is more than 1Cr. but less than 10Cr.: 7% Taxable income is more than 10Cr. :12% | |
| Gross turnover up to 250 Cr. in the previous year | 25% | ||
| Gross turnover exceeding 250 Cr. in the previous year | 29% |
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