Menu
income tax slab
what is current income tax slab?
Replies (1)
1. Income Tax Slab Rate for AY 2018-19 for Individuals:
1.1 Individual (resident or non-resident), who is of the age of less than 60 years on the last day of the relevant previous year:
|
Taxable income |
Tax Rate |
|
Up to Rs. 2,50,000 |
Nil |
|
Rs. 2,50,000 to Rs. 5,00,000 |
5% |
|
Rs. 5,00,000 to Rs. 10,00,000 |
20% |
|
Above Rs. 10,00,000 |
30% |
1.2 Resident senior citizen, i.e., every individual, being a resident in India, who is of the age of 60 years or more but less than 80 years at any time during the previous year:
|
Taxable income |
Tax Rate |
|
Up to Rs. 3,00,000 |
Nil |
|
Rs. 3,00,000 - Rs. 5,00,000 |
5% |
|
Rs. 5,00,000 - Rs. 10,00,000 |
20% |
|
Above Rs. 10,00,000 |
30% |
1.3 Resident super senior citizen, i.e., every individual, being a resident in India, who is of the age of 80 years or more at any time during the previous year:
|
Taxable income |
Tax Rate |
|
Up to Rs. 5,00,000 |
Nil |
|
Rs. 5,00,000 - Rs. 10,00,000 |
20% |
|
Above Rs. 10,00,000 |
30% |
Plus: Surcharge:
10% of tax where total income exceeds Rs. 50 lakh
15% of tax where total income exceeds Rs. 1 crore
Education cess: 3% of tax plus surcharge
Recent Topics :
- FAST DS 2026 MAIL QUERY
- Does Anyone need CA Foundation books of May2026 at
- Last day for ITR-U for AY 2023-2024 (FY 2022-2023)
- Sale of shares in indian company by a non resident
- Difference in TIS
- GSTR-9C Upload Status Error Occured
- “Income Tax Implications of Company-Related
- Advice needed: Hypothetical case of non-filing of
- Demand Raised for Cess Amount Despite Section 89 R
- WRONG BILL NO FILED IN GST R1
Related Topics :
CAclubindia
