Income Tax Slab Rates for 2017-18, 2018-19, Income Tax Rates 2018

Income Tax Slab Rates

Income Tax Slab Rates for 2017-18, 2018-19, Income Tax Rates 2018. Check latest Income Tax Slab rates. Know Tax Slabs for ✓ Individuals ✓ HUF ✓ NRI ✓ Artificial Judicial Persons ✓ Domestic & Foreign Companies.  Find out the latest Income Tax slab tax rates for FY 2017-18 (AY 2018-2019) & FY 2016-17. The Income tax slab determines how much you will pay in taxes. Get income tax slab rates for FY 2017-18 & AY 2018-19 and income tax deductions in India for Financial Year 2017-18 (Assessment Year 2018-19) post Union Budget 2017.

Income Tax Slab Rates for Women’s, Income Tax Slab Rates for Men’s, Income Tax Slab Rates for Senior Citizens, Income Tax Slab Rates  for Super Senior Citizens, etc. Now you can scroll down and check more details about “Income Tax Slab Rates AY 2017-18, FY 2016-17″ from below….

Income Tax Slab Rates AY 2017-18, FY 2016-17

Sr. No. Particulars Tax Rates
Individual – Male and Female :-
1 Taxable Income upto Rs. 2,50,000 NIL
2 Taxable income Rs 2,50,000 to Rs 5,00,000 10%
3 Taxable Income Rs 5,00,000 to Rs 10,00,000 20%
4 Taxable Income above Rs 10,00,000/- 30%
Individual – Senior Citizens (Age 60 years to 79 years)
1 Taxable Income upto Rs. 3,00,000 NIL
2 Taxable income Rs 3,00,000 to Rs 5,00,000 10%
3 Taxable Income Rs 5,00,000 to Rs 10,00,000 20%
4 Taxable Income above Rs 10,00,000/- 30%
Individual – Super Senior Citizens (Age 80 years and above) 
1 Taxable Income upto Rs. 5,00,000 NIL
2 Taxable Income Rs 5,00,000 to Rs 10,00,000 20%
3 Taxable Income above Rs 10,00,000/- 30%

Plus :-

  • Surcharge: 15% of the Income Tax if taxable income exceeds Rs 1 crore.
  • Education Cess: 3% of the total of Income Tax and Surcharge.

Note: Relief under Section 87A is available to a resident individual if his total income does not exceed Rs. 5,00,000. The relief available shall be 100% of income-tax or Rs 5,000 whichever is less.

2. Co-operative Society:

Where the taxable income does not exceed Rs 10,000 10%
Where the taxable income exceeds Rs 10,000 but does not exceed Rs 20,000. Rs.1,000 + 20% of income in excess of Rs. 10,000.
Where the taxable income exceeds Rs. 20,000 Rs 3,000 + 30% of the amount by which the taxable income exceeds Rs.20,000

Plus :-

  • Surcharge: 12% of the Income Tax if taxable income exceeds Rs 1 crore.
  • Education Cess: 3% of the total of Income Tax and Surcharge.

Firm /Local Authority

Income Tax: 30% of taxable income

Plus :-

  • Surcharge: 12% of the Income Tax if taxable income exceeds Rs 1 crore.
  • Education Cess: 3% of the total of Income Tax and Surcharge.

Domestic Company:

  • Income Tax: 30% of taxable income
  • Tax Rate is 29% if turnover or gross receipt of the company doesn’t exceed Rs. 5 crore in F Y 2014- 15

Plus :-

  • Surcharge 7% of the Income-tax if taxable income exceeds Rs 1 crore.
  • Surcharge 12% of the Income-tax if taxable income exceeds Rs 10 crore.
  • Education Cess: 3% of the total of Income Tax and Surcharge.

Foreign Company:

Income Tax: 40% of taxable income

Plus :-

  • Surcharge 2% of the Income-tax if taxable income exceeds Rs 1 crore.
  • Surcharge 5% of the Income-tax if taxable income exceeds Rs 10 crore.
  • Education Cess: 3% of the total of Income Tax and Surcharge.

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