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Income Tax Slab Rates FY 2018-2019

The below are the latest Income Tax slab rates in India for the financial year 2018-2019 (AY 2019-2019) for salaried individuals.

 

The rebate is applicable as per the Income Tax section 87A,  if the resident individual total income does not exceed Rs.3,50,000 .

 

 

Income Tax Slab Rates For FY 2018–2019 (AY 2019-2020)

 

 

Income Tax Slab Rates for Individual & HUF (Men & Women)

Age Less Than 60 Years

 

 

Income Tax Slab                      Tax Rate

 

Upto Rs.2,50,000                               Nil

 

From Rs.2,50,001-Rs.5,00,000          5%

 

From Rs.5,00,001-Rs.10,00,000       20%

 

Above Rs.10,00,000                         30%

 

 

 

Surcharge

 

10% Surcharge in case of total income between Rs.50,00,000 to 1,00,00,000

 

15% Surcharge in case of total income is more than 1,00,00,000

 

Health & Education cess @4% on Income tax + Surcharge

 

 

 

Income Tax Slab Rates for Senior Citizens Individual & HUF (Men & Women)

Age between 60 – 80

 

Income Tax Slab                      Tax Rate

 

Upto Rs.3,00,000                               Nil

 

From Rs.3,00,001-Rs.5,00,000          5%

 

From Rs.5,00,001-Rs.10,00,000       20%

 

Above Rs.10,00,000                         30%

 

 

Surcharge

 

10% Surcharge in case of total income between Rs.50,00,000 to 1,00,00,000

 

15% Surcharge in case of total income is more than 1,00,00,000

 

Health & Education cess @4% on Income tax + Surcharge

 

 

 

Income Tax Slab Rates for Super Senior Citizens Individual & HUF (Men & Women)

Age above 80 years

 

Income Tax Slab                      Tax Rate

 

Upto Rs.5,00,000                               Nil

 

From Rs.5,00,001-Rs.10,00,000       20%

 

Above Rs.10,00,000                         30%

 

 

Surcharge

 

10% Surcharge in case of total income between Rs.50,00,000 to 1,00,00,000

 

15% Surcharge in case of total income is more than 1,00,00,000

 

Health & Education cess @4% on Income tax + Surcharge

 

 

 

 

Related Topics

 

TDS Rate Chart for Financial Year 2018-2019

 

House Rent Allowance Calculation

 

TDS Refund

 

 

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