IT FORM FOR AY 2018-19
Income Tax Slab for Individual Tax Payers & HUF (Less Than 60 Years Old) for FY 2018-19 – Part I
Income up to Rs 2,50,000* No tax
Income from Rs 2,50,000 – Rs 5,00,000 5% Save Rs 7,500 in taxes.
Income from Rs 5,00,000 – 10,00,000 20% Save Rs 30,000 in taxes. Save Taxes
Income more than Rs 10,00,000 30% Save Rs 45,000 in taxes. Save Taxes
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.
Health & Education Cess: 4% of Income Tax.
*Income tax exemption limit for FY 2018-19is up to Rs. 2,50,000 for individual & HUF other than those covered in Part(II) or (III)
Income Tax Slab for Senior Citizens (60 Years Old Or More but Less than 80 Years Old) for FY 2018-19 – Part II
Income up to Rs 3,00,000* No tax
Income from Rs 3,00,000 – Rs 5,00,000 5% Save Rs 7,500 in taxes. Save Taxes
Income from Rs 5,00,000 – 10,00,000 20% Save Rs 30,000 in taxes. Save Taxes
Income more than Rs 10,00,000 30% Save Rs 45,000 in taxes. Save Taxes
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.
Health & Education Cess: 4% of Income Tax.
*Income tax exemption limit for FY 2018-19 is up to Rs. 3,00,000 other than those covered in Part(I) or (III)
Income Tax Slab for Senior Citizens(80 Years Old Or More) for FY 2018-19 – Part III
Income up to Rs 5,00,000* No tax
Income from Rs 5,00,000 – 10,00,000 20% Save Rs 30,000 in taxes. Save Taxes
Income more than Rs 10,00,000 30% Save Rs 45,000 in taxes. Save Taxes
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.
Health & Education Cess: 4% of Income Tax.
*Income tax exemption limit for FY 2018-19 is up to Rs. 5,00,000 other than those covered in Part(I) or (II)
Income Tax Slab for Domestic Companies for FY 2018-19 – Part IV
Gross turnover upto 250 Cr. in the previous year 25%
Gross turnover exceeding 250 Cr. in the previous year 29%
In addition cess and surcharge is levied as follows:
Cess: 4% of corporate tax
Surcharge: Taxable income is more than 1Cr. but less than 10Cr.: 7%
Taxable income is more than 10Cr. :12%
Income Tax Slab Rates for FY 2017-18(AY 2018-19)
Income Tax Slab for Individual Tax Payers & HUF (Less Than 60 Years Old) for FY 2017-18 – Part I
Income up to Rs 2,50,000* No tax
Income from Rs 2,50,000 – Rs 5,00,000 5% Save Rs 7,500 in taxes. Save Taxes
Income from Rs 5,00,000 – 10,00,000 20% Save Rs 30,000 in taxes. Save Taxes
Income more than Rs 10,00,000 30% Save Rs 45,000 in taxes. Save Taxes
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.
Higher education and secondary cess: 3% of Income Tax.
*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)