Highlights of Government Orders Income Tax Slabs & Tax Rates

HIGHLIGHTS OF GOVERNMENT ORDERS

Income Tax Slabs & Tax Rates

AY 2018-19 – (FY 017-18)

Individual below 60 years of age:

1. Income Tax Slab Income Tax Rate Income upto Rs. 2,50,000 Nil
2. Income between Rs. 2,50,001 – Rs. 500,000 5% of Income exceeding Rs. 2,50,000
3. Income between Rs. 500,001 – Rs. 10,00,000 20% of Income exceeding Rs. 5,00,000
4. Income above Rs. 10,00,000 30% of Income exceeding Rs. 10,00,000

Senior Citizens (60-80 yrs):

1. Income Tax Slab Income Tax Rate Income upto Rs. 3,00,000 Nil
2. Income between Rs. 3,00,001 – Rs. 500,000 5% of Income exceeding Rs. 3,00,000
3. Income between Rs. 500,001 – Rs. 10,00,000 20% of Income exceeding Rs. 5,00,000
4. Income above Rs. 10,00,000 30% of Income exceeding Rs. 10,00,000

Super Senior Citizens (above 80 yrs):

1. Income Tax Slab Income Tax Rate Income upto Rs. 5,00,000 Nil
2. Income between Rs. 500,001 – Rs. 10,00,000 20% of Income exceeding Rs. 5,00,000
3. Income above Rs. 10,00,000 30% of Income exceeding Rs. 10,00,000

Source: www.irtsa.net