(A) INCOME TAX SLAB For AY 2018-19
Income Tax Rates – In case of an resident Individual less than 60 years of age or non-resident individual or HUF or AOP or BOI or Other artificial juridical person.
Assessment Year 2018-19
| Taxable income | Income Tax Rates |
| Up to Rs. 2,50,000 | Nil |
| Rs. 2,50,000 to Rs. 5,00,000 | 5% |
| Rs. 5,00,000 to Rs. 10,00,000 | 20% |
| Above Rs. 10,00,000 | 30% |
Read Note 1 for surcharge, Cess and Rebate info.
Income Tax Rates – In case of a resident senior citizen (who is 60 years of age or more at any time during the previous year but less than 80 years of age on the last day of the previous year)
Assessment Year 2018-19
| Taxable income | Income Tax Rates |
| Up to Rs. 3,00,000 | Nil |
| Rs. 3,00,000 – Rs. 5,00,000 | 5% |
| Rs. 5,00,000 – Rs. 10,00,000 | 20% |
| Above Rs. 10,00,000 | 30% |
Read Note 1 for surcharge, Cess and Rebate info.
Income Tax Rates – In case of a resident super senior citizen (who is 80 years of age or more on the last day of the previous year)
Assessment Year 2018-19
| Taxable income | Income Tax Rates |
| Up to Rs. 5,00,000 | Nil |
| Rs. 5,00,000 – Rs. 10,00,000 | 20% |
| Above Rs. 10,00,000 | 30% |
Read Note 1 for surcharge, Cess and Rebate info.
Note 1:
- Surcharge : – 10% of Income tax where total income exceed Rs. Fifty lacs but not more than one crore, 15% of Income tax where total income exceeds one crore rupees.( the surcharge shall be subject to marginal relief)
- Education Cess :- 2% of income-tax and surcharge.
- Secondary and Higher Education Cess :- 1% of income-tax and surcharge.
- Rebate under Section 87A :- The rebate is available to a resident individual if his total income does not exceed Rs. 3,50,000. The amount of rebate shall be 100% of income-tax or Rs. 2,500, whichever is less.
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Income Tax Rates for Partnership Firm (Including LLP) (AY 2018-19).
Assessment year 2018-19
| Taxable Income | Income Tax Rates |
| Every Income is taxable (No exemption) | 30% |
Read Note 2 for Surcharge and Cess info.
Income Tax Rates for Local Authority (AY 2018-19).
Assessment year 2018-19
Taxable Income Income Tax Rates Every Income is taxable (No exemption) 30% Read Note 2 for Surcharge and Cess Info.
Income Tax Rates for Co Operative Society (AY 2018-19).
Assessment year 2018-19
| Taxable Income | Income Tax Rates |
| Upto Rs.10,000 | 10% |
| Rs.10,000 to Rs.20,000. | 20% |
| Above Rs.20,000. | 30% |
Read Note 2 for Surcharge and Cess Info.
Note 2:
- Surcharge : – 12% of Income tax where total income exceeds one crore rupees. (the surcharge shall be subject to marginal relief)
- Education Cess :- 2% of income-tax and surcharge.
- Secondary and Higher Education Cess :- 1% of income-tax and surcharge.
Income Tax Rates for Domestic Company (AY 2018-19).
Assessment year 2018-19
| Taxable Income | Income Tax Rates |
| Any Income to Company is taxable (No exemption) | 30% |
| If turnover or gross receipt does not exceed Rs.50 crore in previous year 2015-16. (Applicable for AY 2018-19 only) | 25% |
- Surcharge : – (a) 7% of income tax where total income exceeds one crore repees but not exceeding ten crore rupees; (b) 12% of Income tax where total income exceeds ten crore rupees ( the surcharge shall be subject to marginal relief).
- Education Cess :- 2% of income-tax and surcharge.
- Secondary and Higher Education Cess :- 1% of income-tax and surcharge.
Income Tax Rates for Foreign Company (AY 2018-19).
Assessment year 2018-19
Taxable Income Income Tax Rates Royalty received from Government or an Indian concern or Fees for rendering technical services received from Government or an Indian concern
50% Any Other Income 40% - Surcharge : – (a) 2% of income tax where total income exceeds one crore rupees but not exceeding ten crore rupees; (b) 5% of Income tax where total income exceeds ten crore rupees ( the surcharge shall be subject to marginal relief).
- Education Cess :- 2% of income-tax and surcharge.
- Secondary and Higher Education Cess :- 1% of income-tax and surcharge.
(B) INCOME TAX SLAB For AY 2019-20
Income Tax Rates -In case of an resident Individual less than 60 years of age or non-resident individual or HUF or AOP or BOI or Other artificial juridical person.
Assessment Year 2019-20
| Taxable income | Income Tax Rates |
| Up to Rs. 2,50,000 | Nil |
| Rs. 2,50,000 to Rs. 5,00,000 | 5% |
| Rs. 5,00,000 to Rs. 10,00,000 | 20% |
| Above Rs. 10,00,000 | 30% |
Read Note 3 for Surcharge, Cess and Rebate Info.
Income Tax Rates – In case of a resident senior citizen (who is 60 years or more at any time during the previous year but less than 80 years on the last day of the previous year)
Assessment Year 2019-20
| Taxable income | Income Tax Rates |
| Up to Rs. 3,00,000 | Nil |
| Rs. 3,00,000 – Rs. 5,00,000 | 5% |
| Rs. 5,00,000 – Rs. 10,00,000 | 20% |
| Above Rs. 10,00,000 | 30% |
Read Note 3 for Surcharge, Cess and Rebate Info.
Income Tax Rates – In case of a resident super senior citizen (who is 80 years of age or more on the last day of the previous year)
Assessment Year 2019-20
| Taxable income | Income Tax Rates |
| Up to Rs. 5,00,000 | Nil |
| Rs. 5,00,000 – Rs. 10,00,000 | 20% |
| Above Rs. 10,00,000 | 30% |
Read Note 3 for Surcharge, Cess and Rabate Info.
Note 3:
- Surcharge: 10% of Income tax where total income exceed Rs. Fifty lacs but not more than one crore, 15% of Income tax where total income exceeds one crore rupees.( the surcharge shall be subject to marginal relief)
- Health & Education Cess: 4% of income-tax and surcharge.
- Rebate under Section 87A: The rebate is available to a resident individual if his total income does not exceed Rs. 3,50,000. The amount of rebate shall be 100% of income-tax or Rs. 2,500, whichever is less.
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Income Tax Rates for Partnership FIRM (Including LLP) (AY 2019-20).
Assessment year 2019-20
| Taxable Income | Income Tax Rates |
| Every Income is taxable (No exemption) | 30% |
Read Note 4 for Surcharge and Cess Info.
Income Tax Rates for Local Authority (AY 2019-20).
Assessment year 2019-20
| Taxable Income | Income Tax Rates |
| every Income is taxable (No exemption). | 30% |
Read Note 4 for Surcharge and Cess Info.
Income Tax Rates for Co Operative Society (AY 2019-20).
Assessment year 2019-20
| Taxable Income | Income Tax Rates |
| Upto Rs.10,000 | 10% |
| Rs.10,000 to Rs.20,000. | 20% |
| Above Rs.20,000. | 30% |
Read Note 4 for Surcharge and Cess Info.
Note 4:
- Surcharge : – 12% of Income tax where total income exceeds one crore rupees. ( the surcharge shall be subject to marginal relief)
- Health & Education Cess :- 4% of income-tax and surcharge.
Income Tax Rates for Domestic Company (AY 2019-20).
Assessment year 2019-20
| Taxable Income | Income Tax Rates |
| Any Income to Domestic Company is taxable (No exemption) | 30% |
| If turnover or gross receipt does not exceed Rs.250 crore in previous year 2016-17. (Applicable for AY 2019-20 only) | 25% |
- Surcharge : – (a) 7% of income tax where total income exceeds one crore rupees but not exceeding ten crore rupees; (b) 12% of Income tax where total income exceeds ten crore rupees ( the surcharge shall be subject to marginal relief).
- Health & Education Cess :- 4% of income-tax and surcharge.
Income Tax Rates for Foreign Company (AY 2019-20).
Assessment year 2019-20
| Taxable Income | Income Tax Rates |
| Any Income to Foreign Company is taxable (No exemption) | 40% |
| Royalty received from Government or an Indian concern or Fees for rendering technical services received from Government or an Indian concern | 50% |
- Surcharge : – (a) 2% of income tax where total income exceeds one crore rupees but not exceeding ten crore rupees; (b) 5% of Income tax where total income exceeds ten crore rupees ( the surcharge shall be subject to marginal relief).
- Health & Education Cess :- 4% of income-tax and surcharge.
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