Income Tax Slab FY 2018-19 (Assessment Year (AY) 2019-20)
Income Tax Slabs For Individual Tax Payers below 60 years of age (both men & women)
| Income Tax Slab | Income Tax Rate |
|---|---|
| Income upto Rs. 2,50,000 | Nil |
| Income between Rs. 2,50,001 - Rs. 500,000 | 5% of Income exceeding Rs. 2,50,000 |
| Income between Rs. 500,001 - Rs. 10,00,000 | 20% of Income exceeding Rs. 5,00,000 |
| Income above Rs. 10,00,000 | 30% of Income exceeding Rs. 10,00,000 |
15% of income tax, where total income exceeds Rs.1 crore
Health and Education Cess: 4% on total of income tax + surcharge.
Income Tax Slabs For Senior Citizens (age 60 years or more but less than 80 years) (both men & women)
| Income Tax Slab | Income Tax Rate |
|---|---|
| Income upto Rs. 3,00,000 | Nil |
| Income between Rs. 3,00,001 - Rs. 500,000 | 10% of Income exceeding Rs. 3,00,000 |
| Income between Rs. 500,001 - Rs. 10,00,000 | 20% of Income exceeding Rs. 5,00,000 |
| Income above Rs. 10,00,000 | 30% of Income exceeding Rs. 10,00,000 |
15% of income tax, where total income exceeds Rs.1 crore
Health and Education Cess: 4% on total of income tax + surcharge.
Income Tax Slabs For Super Senior Citizens (age 80 years or more) (both men & women)
| Income Tax Slab | Income Tax Rate |
|---|---|
| Income upto Rs. 5,00,000 | Nil |
| Income between Rs. 500,001 - Rs. 10,00,000 | 20% of Income exceeding Rs. 5,00,000 |
| Income above Rs. 10,00,000 | 30% of Income exceeding Rs. 10,00,000 |
15% of income tax, where total income exceeds Rs.1 crore
Health and Education Cess: 4% on total of income tax + surcharge.
Note: A resident individual is entitled for rebate u/s 87A, only if his/ her Total Income is below Rs. 3,50,000. The amount of rebate shall be 100% of income-tax or Rs. 2,500, whichever is less.
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