Site icon SabKuchOnline

Budget 2018: Income Tax Slab Rate FY 2018-19

Budget 2018 Income Tax Slab Rate FY 2018-19

Key Points:

Watch this video Income Tax Slab Rat FY 2018-2019 to understand the what are the changes done.

Income Tax Slab for Individual Tax Payers (Less Than 60 Years Age)

Income SlabTax Rate
Income up to Rs 2,50,000*Nil
Income from Rs 2,50,000 – Rs 5,00,0005%
Income from Rs 5,00,000 – 10,00,00020%
Income more than Rs 10,00,00030%
Surcharge: 10% of income tax, where total income more than Rs.50 lakh up to Rs.1 cr.     15% of income tax, where the total income exceeds Rs.1 cr.
Education & Health Cess: 4% on total income tax + surcharge.
Standard Deduction: Rs. 40000.

Income Tax Slab for Senior Citizens (60 Yrs age or more but Less than 80 Yrs age)

Income SlabTax Rate
Income up to Rs 3,00,000*Nil
Income from Rs 3,00,000 – Rs 5,00,0005%
Income from Rs 5,00,000 – 10,00,00020%
Income more than Rs 10,00,00030%
Surcharge: 10% of income tax, where total income more than Rs.50 lakh up to Rs.1 cr.     15% of income tax, where the total income exceeds Rs.1 cr.
Education & Health Cess: 4% on total income tax + surcharge.
Standard Deduction: Rs. 40000.

Income Tax Slab for Senior Citizens(80 Years age Or More)

Income SlabTax Rate
Income up to Rs 5,00,000*Nil
Income from Rs 5,00,000 – 10,00,00020%
Income more than Rs 10,00,00030%
Surcharge: 10% of income tax, where total income more than Rs.50 lakh up to Rs.1 cr.     15% of income tax, where the total income exceeds Rs.1 cr.
Education & Health Cess: 4% on total of income tax + surcharge.
Standard Deduction: Rs. 40000.

Also if you looking for taking insurance and get a rebate under section 80C benefit up to 1,50,000. mail us

Please watch this video till the end to understand the income tax slab rate FY 2017-2018 and Also Know the rebate Under – 87A.

Exit mobile version