Income Tax Slabs Rates for FY 2018-19 (AY 2019-20)

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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