Income Tax Slabs & Rates for FY 2017-18 (AY 2018–19)

Income Tax Slabs & Rates for FY 2017-18 (AY 2018–19)
Income Tax Slabs for Individual TaxPayers
Income Tax Slab	Income Tax Rate
Income upto Rs. 2,50,000	Nil
Income between Rs. 2,50,001 - Rs. 500,000	5%
Income between Rs. 500,001 - Rs. 10,00,000	20%
Income above Rs. 10,00,000	30%
Income Tax Slabs for Senior Citizens (Age 60 years or more but less than 80 years)
Income Tax Slab	Income Tax Rate
Income upto Rs. 3,00,000	Nil
Income between Rs. 3,00,001 - Rs. 500,000	5%
Income between Rs. 500,001 - Rs. 10,00,000	20%
Income above Rs. 10,00,000	30%
Income Tax Slabs for Senior Citizens (Age 80 years or more)
Income Tax Slab	Income Tax Rate
Income upto Rs. 5,00,000	Nil
Income between Rs. 500,001 - Rs. 10,00,000	20%
Income above Rs. 10,00,000	30%
** Surcharge and Cess applicable on the above rates.
** 10% surcharge is applicable on income tax if the total income exceeds Rs. 50 lakhs but below 1 crore.
** 15% surcharge is applicable on income tax if the total income exceeds Rs 1 crore.
** 2% Education cess and 1% Secondary and Higher Education Cess is applicable on the income tax and applicable surcharge.
** For individuals whose income is equal to or less than Rs 3.5 lakh, tax rebate of Rs. 2,500 or 100% of income tax(whichever is lower) is available under section 87A. ** There is no separate tax slab for men and women. You may also like to read: 7 Habits that can make you rich You may also like to read: What is Atal Pension Yojana? If you liked this article, share it with friends and colleagues through Twitter or Facebook. Your opinion matters, please share your comments.