Table of Contents
Income Tax Slabs Rates for Financial Year 2018-2019
Income Tax Slabs for Individual Tax Payers & HUF (Less Than 60 Years Old) for FY 2018-19
| Income Tax Slabs | Tax Rates for Individual & HUF Below the Age Of 60 Years |
|---|---|
| Up to ₹2,50,000* | Nil |
| ₹2,50,001 to ₹5,00,000 | 5% of total income exceeding ₹2,50,000 |
| ₹5,00,001 to ₹10,00,000 | ₹12,500 + 20% of total income exceeding ₹5,00,000 |
| Above ₹10,00,000 | ₹1,12,500 + 30% of total income exceeding ₹10,00,000 |
Note : An additional 4% Health & education cess will be applicable on the tax amount calculated as above.
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 Slabs for Senior Citizens (60 Years Old Or More but Less than 80 Years Old) for FY 2018-19
| Income Tax Slabs | Tax Rate for 60 Years Old Or More but Less than 80 Years Old |
| 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% |
Note : An additional 4% Health & education cess will be applicable on the tax amount calculated as above.
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 Slabs for Super Senior Citizens(80 Years Old Or More) for FY 2018-19
| Income Tax Slabs | Tax Rate for Super Senior Citizens (Aged 80 Years And Above) |
| Income up to Rs 5,00,000* | No tax |
| Income from Rs 5,00,000 – 10,00,000 | 20% |
| Income more than Rs 10,00,000 | 30% |
Note: An additional 4% Health & education cess will be applicable on the tax amount calculated as above.
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.
Rebate of Rs.2500 if net total income Below Rs.3,50,000.
