Income Tax Slabs Rates for FY 2017-18(AY 2018-19)

Income Tax Slabs Rates for FY 2017-18(AY 2018-19)

Income Tax Slabs for Individual Tax Payers & HUF (Less Than 60 Years Old) 

for FY 2017-18 – Part I

Income Tax Slabs	Tax Rate	Health and Education Cess
Income up to Rs 2,50,000*	No tax
Income from Rs 2,50,000 – Rs 5,00,000	5%	3% of Income Tax
Income from Rs 5,00,000 – 10,00,000	20%	3% of Income Tax
Income more than Rs 10,00,000	30%	3% of Income Tax

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Surcharge: 10% of income tax, where total income exceeds Rs.50 lakh up to Rs.1 crore.

Surcharge: 15% of income tax, where the total income exceeds Rs.1 crore.

*Income tax exemption limit for FY 2017-18 is up to Rs. 2,50,000 for individual & HUF other than those covered in Part(II) or (III)

Income Tax Slabs for Senior Citizens (60 Years Old Or More but Less than 80 Years Old) 

for FY 2017-18 – Part II

Income Tax Slabs	Tax Rate	Health and Education Cess
Income up to Rs 3,00,000*	No tax
Income from Rs 3,00,000 – Rs 5,00,000	5%	3% of Income Tax
Income from Rs 5,00,000 – 10,00,000	20%	3% of Income Tax
Income more than Rs 10,00,000	30%	3% of Income Tax

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Surcharge: 10% of income tax, where total income exceeds Rs.50 lakh up to Rs.1 crore.

Surcharge: 15% of income tax, where the total income exceeds Rs.1 crore.

*Income tax exemption limit for FY 2017-18 is up to Rs. 3,00,000 other than those covered in Part(I) or (III)

Income Tax Slabs for Senior Citizens(80 Years Old Or More) 

for FY 2017-18 – Part III

Income Tax Slabs	Tax Rate	Health and Education Cess
Income up to Rs 5,00,000*	No tax
Income from Rs 5,00,000 – 10,00,000	20%	3% of Income Tax
Income more than Rs 10,00,000	30%	3% of Income Tax

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Surcharge: 10% of income tax, where total income exceeds Rs.50 lakh up to Rs.1 crore.

Surcharge: 15% of income tax, where the total income exceeds Rs.1 crore.

*Income tax exemption limit for FY 2017-18 is up to Rs. 5,00,000 other than those covered in Part(I) or (II)

Income Tax Slabs for Domestic Companies for FY 2017-18 – Part IV

Turnover Particulars	Tax Rate
Gross turnover upto 50 Cr. in the previous year	25%
Gross turnover exceeding 50 Cr. in the previous year	30%

In addition cess and surcharge is levied as follows: Cess: 3% of corporate tax Surcharge: Taxable income is more than 1Cr. but less than 10Cr.: 7% Taxable income is more than 10Cr. :12%