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Wednesday, 17 May 2017

Income Tax Slab Rate A.Y. 2017-18 (Individual, Resident of India)

1. Upto Age of 59 years

Taxable Income(in Rs)              Rate
     0 - 2,50,000                           NIL
2,50,001 - 5,00,000                    10%
5,00,001 - 10,00,000                  20%
10,00,000 & Above                    30%

2. From 60 years to 79 years(Senior Citizen)

Taxable Income(in Rs)              Rate    
     0 - 3,00,000                           NIL
3,00,001 - 5,00,000                    10%
5,00,001 - 10,00,000                  20%
10,00,000 & Above                    30%

3. From 80 years & Above(Super Senior Citizen)

Taxable Income(in Rs)              Rate    
     0 - 5,00,000                           NIL
5,00,001 - 10,00,000                  20%
10,00,000 & Above                    30%

*Rebate under section 87A of ₹. 5000/ Tax is available, If the Total Net Income is upto ₹ 5,00,000/- or less than 5 Lac.
*Surcharge @ 15% of Income Tax, When the Taxable Income is more than One crore.
*Marginal Relief in surcharge if any applicable.
*Education Cess @ 3% on total Income Tax (Including Surcharge)




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