INCOME TAX SLABS FOR FY 2017-2018 (A.Y 2018-2019)

Income Tax Slab for HUFs & Individuals (below 60 years – for 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% surcharge on income tax if the total income exceeds Rs 50 Lakhs but below Rs 1 crore
15% surcharge on income tax if the total income exceeds Rs 1 crore
Education Cess: 2% cess on income tax including surcharge
Secondary and Higher Education Cess: 1% cess on income tax including surcharge
Rebate under Section 87A: Rs 2,500 or 100% of income tax (whichever is lower) for individuals with income below Rs 3.5 Lakhs

CLICK HERE FOR INCOME TAX CALCULATOR FY 2017-18 IN EXCEL
CLICK HERE INCOME TAX SOFTWARE FY -2016-17 for AP Updated 04.02.2017

Income tax slab for senior citizens (60 years to less than 80 years old) (both men & women)

Income Slab                                                 Tax Rate
Income up to Rs 3,00,000                              No Tax
Income from Rs 3,00,000 – 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% surcharge on income tax if the total income exceeds Rs 50 Lakhs but below Rs 1 crore
15% surcharge on income tax if the total income exceeds Rs 1 crore
Education Cess: 2% cess on income tax including surcharge
Secondary and Higher Education Cess: 1% cess on income tax including surcharge
Rebate under Section 87A: Rs 2,500 or 100% of income tax (whichever is lower) for individuals with income below Rs 3.5 Lakhs

CLICK HERE FOR INCOME TAX CALCULATOR FY 2017-18 IN EXCEL

Income tax slab for Very senior citizens (80 years or more) (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 No Tax
Income from Rs 5,00,000 – 10,00,000            20%
Income more than Rs 10,00,000                     30%
Surcharge:
10% surcharge on income tax if the total income exceeds Rs 50 Lakhs but below Rs 1 crore
15% surcharge on income tax if the total income exceeds Rs 1 crore
Education Cess: 2% cess on income tax including surcharge
Secondary and Higher Education Cess: 1% cess on income tax including surcharge

CLICK HERE FOR INCOME TAX CALCULATOR FY 2017-18 IN EXCEL


1 comment:

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