12/18/17

Income Tax Slab Rates and Deductions for the Financial Year 2018-19 (AY 2019-20)

Income Tax Slab Rates and Deductions for the Financial Year 2018-19 (AY 2019-20)
Income Tax Slab Rates and Deductions for the Financial Year 2018-19 (AY 2019-209). Income Tax assessment Slab Rate ,Deductions - FY 2018-19 (AY 2019-20). Income tax slab rates and income tax deductions in India for Financial Year (FY) 2018-19 and Assessment Year (FY) 2018-19, Income Tax Deductions FY 2018-19 / AY 2018-19. Income Tax Rates in India for the Financial Year 2018-2019 and Assessment Year 2018-2019.



Income Tax Slab Rates and Deductions for the FY 2018-19 (AY 2019-20)


Income Tax Slabs for the Individual Male (Below 60 Years Age) for the Assessment Year 2018-2019:


What is Income Tax Slab? Income tax is that percentage of income paid to the government by the taxpayers for the betterment of the public at large. This income is categorized into different groups on the basis of the amount of income. Each such group is known as a Tax Slab. Tax is charged at different rates on the range of income falling under different income tax slabs. The Income Tax Act 1961 is the law that governs the provisions for our income tax in India. The income tax slab rates are usually revised every year during the budget. Various deductions that are allowed to a taxpayer under Section 80C, Section 80D etc. Income Tax Slab Rate Post Budget 2017 The tax is calculated according to the income tax slabs announced by the government every year in the Budget. The finance minister has announced the changes in the tax slab structure in union budget for 2017. Following are the income tax slab rates and deductions in India for different categories of tax payers: Income Tax Slab Rate For Men below 60 Years of Age
Income Tax Slab Income Tax Rate Education Cess Secondary and Higher Education Cess
Income upto Rs. 2,50,000 Nil Nil Nil
Income between Rs. 2,50,001 - Rs. 500,000 5% of Income exceeding Rs. 2,50,000 2% of income tax 1% of income tax
Income between Rs. 500,001 - Rs. 10,00,000 20% of Income exceeding Rs. 5,00,000 2% of income tax 1% of income tax
Income above Rs. 10,00,000 30% of Income exceeding Rs. 10,00,000 2% of income tax 1% of income tax
Income Tax Slab Rate For Women below 60 Years of Age
Income Tax Slab Income Tax Rate Education Cess Secondary and Higher Education Cess
Income upto Rs. 2,50,000 Nil Nil Nil
Income between Rs. 2,50,001 - Rs. 500,000 5% of Income exceeding Rs. 2,50,000 2% of income tax 1% of income tax
Income between Rs. 500,001 - Rs. 10,00,000 20% of Income exceeding Rs. 5,00,000 2% of income tax 1% of income tax
Income above Rs. 10,00,000 30% of Income exceeding Rs. 10,00,000 2% of income tax 1% of income tax
Income Tax Slab Rate For Senior Citizens (Age 60 years or more but less than 80 years)
Income Tax Slab Income Tax Rate Education Cess Secondary and Higher Education Cess
Income upto Rs. 3,00,000 Nil Nil Nil
Income between Rs. 3,00,001 - Rs. 500,000 5% of Income exceeding Rs. 3,00,000 2% of income tax 1% of income tax
Income between Rs. 500,001 - Rs. 10,00,000 20% of Income exceeding Rs. 5,00,000 2% of income tax 1% of income tax
Income above Rs. 10,00,000 30% of Income exceeding Rs. 10,00,000 2% of income tax 1% of income tax
Income Tax Slab Rate For Senior Citizens (Age 80 years or more)
Income Tax Slab Income Tax Rate Education Cess Secondary and Higher Education Cess
Income upto Rs. 5,00,000 Nil Nil Nil
Income between Rs. 500,001 - Rs. 10,00,000 20% of Income exceeding Rs. 5,00,000 2% of income tax 1% of income tax
Income above Rs. 10,00,000 30% of Income exceeding Rs. 10,00,000 2% of income tax 1% of income tax
Income Tax Slab Rate Hindu Undivided Families (HUF)
Income Tax Slab Income Tax Slab Rate
Up to Rs.2,50,000 Nil
Rs.2,50,000 to Rs.5,00,000 10%Income exceeding Rs. 2,50,000
Rs.5,00,000 to Rs.10,00,000 20%Income exceeding Rs. 5,00,000
Over Rs.10,00,000 30%Income exceeding Rs. 10,00,000
Income Tax Slab Rate Legal Entities Registered as Associations of Persons
Income Tax Slab Income Tax Slab Rate
Up to Rs.2,50,000 Nil
Rs.2,50,000 to Rs.5,00,000 10%Income exceeding Rs. 2,50,000
Rs.5,00,000 to Rs.10,00,000 20%Income exceeding Rs. 5,00,000
Over Rs.10,00,000 30%Income exceeding Rs. 10,00,000
Income Tax Slab Rate Legal Entities Registered as Bodies of Individuals
Income Tax Slab Income Tax Slab Rate
Up to Rs.2,50,000 Nil
Rs.2,50,000 to Rs.5,00,000 10%Income exceeding Rs. 2,50,000
Rs.5,00,000 to Rs.10,00,000 20%Income exceeding Rs. 5,00,000
Over Rs.10,00,000 30%Income exceeding Rs. 10,00,000





 Updated Income Tax Software 2018-19 for AP &TS
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Income Tax Slab Rates and Deductions for 2018-19

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