Income Tax Slab Rates for FY 2017-18(AY 2018-19)
For FY 2017-18, the slab rate for income tax up to Rs. 5 lakh has gone down from 10% to 5%.
PART I: Income Tax Slab for Individual Tax Payers & HUF (Less Than 60 Years Old) (Both Men & Women)
| 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 exceeds Rs.50 lakh up to Rs.1 crore.
Surcharge: 15% of income tax, where the total income exceeds Rs.1 crore.
| |||
| Cess: 3% on total of income tax + surcharge. | |||
| *Income tax exemption limit for FY 2017-18 is up to Rs. 2,50,000 for individual & HUF other than those covered in Part(II) or (III) | |||
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