Income Tax Slabs for FY 2017-18 (AY 2018-19)
Click to Calculate Income Tax with Simple Tool – Impact Pre & Post Budget 2017
|
resident individuals
|
|||
|
net
income |
below
60 years |
above
60 & below 80 years |
above
80 years |
|
Up to Rs.2,50,000
|
no tax
|
no tax
|
no tax
|
|
Up to Rs.3,00,000
|
(5% of exceed income over 2,50,000) – 2500*
|
no tax
|
no tax
|
|
Up to Rs.3,50,000
|
(5% of exceed income over 2,50,000) – 2500*
|
(5% of exceed income over 2,50,000) – 2500*
|
no tax
|
|
Rs.3,50,001 to 5,00,000
|
5% of exceed income over 3,50,000
|
5% of exceed income over 3,50,000
|
no tax
|
|
Rs.5,00,001 to Rs.10,00,000
|
RS. 12,500 + 20% of exceed income over 5,00,000
|
RS. 10,000 + 20% of exceed income over 5,00,000
|
20% of exceed income over 5,00,000
|
|
above Rs.10,00,000
|
rs.1,12,500 + 30% of exceed income over 10,00,000
|
rs.1,10,000 + 30% of exceed income over 10,00,000
|
rs.1,00,000 + 30% of exceed income over 10,00,000
|
|
Education cess 2% and secondary and higher EDUCATION cess 1%
surcharge of 10% for taxable income between 50 lakhs to 1 crore
surcharge of 15% for taxable income above 1 crore
*Income tax section 87a: rebate only 2500 for income between 2.5 to 3.5 lakh
|
|||