Income tax slab rate for A.Y. 2018-2019

For Individual (Male or Female both below age of 60 Year.), HUF,AOP,BOI and Non resident Indian.

Income below 2,50,000	Nil
Income Exceeds 2,50,000 but up to 5,00,000	5 per cent of the amount by which total income exceeds Rs. 2,50,000
Income Exceeds Rs. 5,00,000 but up to 10,00,000	Rs. 12,500 plus 20 percent of the amount by which income exceeds Rs. 5,00,000
Income Exceed Rs. 10,00,000	Rs. 1,12,500 plus 30 percent of the amount by which income exceeds Rs. 10,00,000

For Individual Senior citizens (individual Who is age of 60 Year. or more but less then 80Year.)
 

Income below 3,00,000	Nil
Income Exceeds 3,00,000 but up to 5,00,000	5 per cent of the amount by which total income exceeds Rs. 3,00,000
Income Exceeds Rs. 5,00,000 but up to 10,00,000	Rs. 10,000 plus 20 percent of the amount by which income exceeds Rs. 5,00,000
Income Exceed Rs. 10,00,000	Rs. 1,10,000 plus 30 percent of the amount by which income exceeds Rs. 10,00,000

For Individual Super Senior Citizen  (individual who is age of 80 year. or more)

Income below 5,00,000	Nil
Income Exceeds Rs. 5,00,000 but up to 10,00,000	20 percent of the amount by which income exceeds Rs. 5,00,000
Income Exceed Rs. 10,00,000	Rs. 1,00,000 plus 30 percent of the amount by which income exceeds Rs. 10,00,000

Note:-  1. Education Cess 3% of income tax + surcharge for A.Y. 2018-2019. (4% for A.Y. 2019-2020)
2. Tax rebate of Rs. 2500 Under section 87A of income tax Act, 1961 only for individual having total income upto Rs. 3,50,000. (This rebate not for HUF)
3. Surcharge: 1. 10% of tax where total income exceed of Rs. 50 lakh.
                             2. 15% of tax where total income exceed of Rs. 1 Crore.


Tax rate for Partnership Firm:

• A Partnership firm (including LLP) is taxable at 30%

Plus: 

• Surcharge: 12% of tax where total income exceeds 1 Crore.
• Education Cess:  3% of income tax + surcharge