Latest Income Tax Slab

Latest Income Tax Slab

Individuals Below 60 Yrs – Income Tax Slab 2017-18 (AY 2018-19)

Income Tax Slab Income Tax Rate
Income upto Rs. 2,50,000 Nil
Income between Rs. 2,50,001 – Rs. 500,000 5% of Income exceeding Rs. 2,50,000
Income between Rs. 500,001 – Rs. 10,00,000 20% of Income exceeding Rs. 5,00,000
Income above Rs. 10,00,000 30% of Income exceeding Rs. 10,00,000

Senior Citizens (60-80 yrs) : Income Tax Slab 2017-18 (AY 2018-19)

Income Tax Slab Income Tax Rate
Income upto Rs. 3,00,000 Nil
Income between Rs. 3,00,001 – Rs. 500,000 5% of Income exceeding Rs. 3,00,000
Income between Rs. 500,001 – Rs. 10,00,000 20% of Income exceeding Rs. 5,00,000
Income above Rs. 10,00,000 30% of Income exceeding Rs. 10,00,000

Super Senior Citizens ( above 80 yrs) : Income Tax Slab 2017-18 (AY 2018-19)

Income Tax Slab Income Tax Rate
Income upto Rs. 5,00,000 Nil
Income between Rs. 500,001 – Rs. 10,00,000 20% of Income exceeding Rs. 5,00,000
Income above Rs. 10,00,000 30% of Income exceeding Rs. 10,00,000

 

The existing rebate of INR 5,000 available for individuals with an income between INR 2,50,000 to INR 5,00,000 is reduced to INR 2,500. Also, the rebate will now be available only for individuals with an Income less than INR 350,000.

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