Showing posts with label 80years. Show all posts
Showing posts with label 80years. Show all posts

13 April 2017

Income Tax Slab Rates For FY 2017-18



Income Tax Slab Rates for FY 2017-18 (AY 2018-19) 
  
Part I: Income tax slab for individual tax payers & HUF below 60 years 
  
Income SlabTax Rate
Income up to ₹ 2,50,000No Tax
Income from ₹ 2,50,000 – ₹ 5,00,0005.00%
Income from ₹ 5,00,000 – 10,00,00020.00%
Income more than ₹ 10,00,00030.00%
Surcharge: 
10% of income tax, where total income is between ₹ 50 lakhs and ₹1 crore. 
15% of income tax, where total income exceeds ₹ 1 crore. 
Cess: 3% on total of income tax + surcharge. 
  
Part II: Income tax slab for individual tax payers & HUF 60 yrs to 80 yrs 
  
Income SlabTax Rate
Income up to ₹ 3,00,000No Tax
Income from ₹ 3,00,000 – ₹ 5,00,0005.00%
Income from ₹ 5,00,000 – 10,00,00020.00%
Income more than ₹ 10,00,00030.00%
Surcharge: 
10% of income tax, where total income is between ₹ 50 lakhs and ₹1 crore. 
15% of income tax, where total income exceeds ₹1 crore. 
Cess: 3% on total of income tax + surcharge. 
  
Part III: Income tax slab for super senior citizens (80 years +) 
  
Income SlabTax Rate
Income up to ₹ 2,50,000No Tax
Income up to ₹ 5,00,000No Tax
Income from ₹ 5,00,000 – 10,00,00020.00%
Income more than ₹ 10,00,00030.00%
Surcharge: 
10% of income tax, where total income is between ₹ 50 lakhs and ₹1 crore. 
15% of income tax, where total income exceeds ₹1 crore. 
Cess: 3% on total of income tax + surcharge. 
*Income up to ₹ 5,00,000 is exempt from tax if you are more than 80 years old. 

For More Information on tax slab and detail kindly Visit https://incometaxindiaefiling.gov.in/

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