1 Replies
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(196001 Points)
Replied 16 July 2018
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
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