Income Tax Slab for Individual Tax Payers & HUF (Less Than 60 Years Old) for FY 2018-19 – Part I
| Income Tax Slab | Tax Rate | Sec 80C Investments |
|---|---|---|
| Income up to Rs 2,50,000* | No tax | |
| Income from Rs 2,50,000 – Rs 5,00,000 | 5% | Save Rs 7,500 in taxes. |
| Income from Rs 5,00,000 – 10,00,000 | 20% | Save Rs 30,000 in taxes. |
| Income more than Rs 10,00,000 | 30% | Save Rs 45,000 in taxes. |
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.
Health & Education Cess: 4% of Income Tax.
*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 Tax Slab for Senior Citizens (60 Years Old Or More but Less than 80 Years Old) for FY 2018-19 – Part II
| Income Tax Slab | Tax Rate | Sec 80C Investments |
| Income up to Rs 3,00,000* | No tax | |
| Income from Rs 3,00,000 – Rs 5,00,000 | 5% | Save Rs 7,500 in taxes. |
| Income from Rs 5,00,000 – 10,00,000 | 20% | Save Rs 30,000 in taxes. |
| Income more than Rs 10,00,000 | 30% | Save Rs 45,000 in taxes. |
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.
Health & Education Cess: 4% of Income Tax.
*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 Tax Slab for Senior Citizens(80 Years Old Or More) for FY 2018-19 – Part III
| Income Tax Slab | Tax Rate | Sec 80C Investments |
| Income up to Rs 5,00,000* | No tax | |
| Income from Rs 5,00,000 – 10,00,000 | 20% | Save Rs 30,000 in taxes. |
| Income more than Rs 10,00,000 | 30% | Save Rs 45,000 in taxes. |
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.
Health & Education Cess: 4% of Income Tax.
*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 Tax Slab for Domestic Companies for FY 2018-19 – Part IV
| Turnover Particulars | Tax Rate |
| Gross turnover upto 250 Cr. in the previous year | 25% |
| Gross turnover exceeding 250 Cr. in the previous year | 29% |
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%
Surcharge: Taxable income is more than 1Cr. but less than 10Cr.: 7%
Taxable income is more than 10Cr. :12%
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