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Income Tax Slab Rates for AY 2018-19 | FY 2017-18


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Income Slabs & Income Tax Rates  for the Financial Year 2017-18 i.e. Assessment Year 2018-19 (these will be effective  on income earned during 01.04.2017 to 31.03.2018) for various categories of Indian Income Tax payers.

Categorized based on age group
ParticularsCategoryBased on AgeBased on date of Birth
 

Individual-Resident

 

Non Senior CitizenAged below 60 years Born on or after 01.04.1958
Senior CitizenAged 60 or above but     below 80 years Born on or after 01.04.1938 but before 01.04.1958
Super Senior CitizenAged above 80 years Born before 01.04.1938
  • Income Tax Slab Rates for Residential Individual FY 2017-18 i.e. AY 2018-19

ParticularsIncome Tax Rates
Income SlabsNon- senior CitizensSenior CitizensSuper Senior Citizens
Upto Rs. 2,50,000NilNilNil
 Rs. 2,50,001 to Rs. 3,00,0005%NilNil
 Rs. 3,00,001 to Rs. 5,00,0005%5%Nil
 Rs. 5,00,001 to Rs. 10,00,00020%20%20%
 Above Rs. 10,00,00030%30%30%
  • Income Tax Slab Rates for For NRI or HUF or AOP or BOI or AJP FY 2017-18 i.e. AY 2018-19

ParticularsAssessee
Income SlabsIncome Tax Rates
Upto Rs. 2,50,000Nil
 Rs. 2,50,001 to Rs. 5,00,0005%
 Rs. 5,00,001 to Rs. 10,00,00020%
 Above Rs. 10,0,00030%

(NRI – Non Resident Individual ; HUF – Hindu Undivided Family ; AOP – Association of Persons ; BOI – Body of Individuals;  AJP – Artificial Judicial Persons)

Benefits under this section are not applicable to  NRI or HUF or AOP or BOI or AJP

  • Surcharge: .
Surcharge for different Income Tax Slabs for FY 2017-18 i.e. AY 2018-19
Income SlabsRate of Surcharge
Upto Rs. 50 lakhsNil
Above Rs. 50 lakhs upto Rs. 1 crore10%
Above Rs. 1 crore15%


It is calculated on Income tax payable. However, it is to be noted that the amount of Income Tax and Surcharge should not increase the amount of income tax payable on a taxable income by more than the amount of increase in taxable income. Following are the rates of surcharge applicable for various income slabs

  • Education Cess including secondary and higher education cess

It is levied at 3% on total income tax and surcharge.

  • Income Tax Slab Rates for Co-operative Society  FY 2017-18 i.e. AY 2018-19

ParticularsAssessee
Income SlabsIncome Tax Rates
Upto Rs. 10,00010%
 Rs. 10,000 to Rs. 20,00020%
 Above Rs. 20,00030%
  • Rebate under section 87A :

Benefits under this section is not available to Co – operative Society.

  • Surcharge:
Surcharge for different Income Tax Slabs for FY 2017-18 i.e. AY 2018-19
Income SlabsRate of Surcharge
Upto. Rs. 1 croreNil
Above Rs. 1 crore12%

It is calculated on Income tax payable. However, it is to be noted that the amount of Income Tax and Surcharge should not increase the amount of income tax payable on a taxable income by more than the amount of increase in taxable income. Following are the rates of surcharge applicable for various income slabs

  • Education Cess including secondary and higher education cess

It is levied at 3% on total income tax and surcharge.

  • Income Tax Slab Rates for Firm or Local Authority FY 2017-18 i.e. AY 2018-19

ParticularsAssessee
Income SlabsIncome Tax Rates
Taxable Income30 %
  • Rebate under section 87A :

Benefits under this section is not available to firm or local authority.

  • Surcharge:
Surcharge for different Income Tax Slabs for FY 2017-18 i.e. AY 2018-19
Income SlabsRate of Surcharge
Upto. Rs. 1 croreNil
Above Rs. 1 crore12%

It is calculated on Income tax payable. However, it is to be noted that the amount of Income Tax and Surcharge should not increase the amount of income tax payable on a taxable income by more than the amount of increase in taxable.

  • Education Cess including secondary and higher education cess

It is levied at 3% on total income tax and surcharge.

  • Income Tax Slab Rates for  Domestic Company FY 2017-18 i.e. AY 2018-19

ParticularsIncome Tax Rates
Income SlabsTurnover upto Rs. 50 crores in P.Y 2015-16Turnover above Rs. 50 crores
Taxable Income25%30%
  • Rebate under section 87A :

Benefits under this section is not available to domestic company.

  • Surcharge:
Surcharge for different Income Tax Slabs for FY 2017-18 i.e. AY 2018-19
Income SlabsRate of Surcharge
Turnover upto Rs. 50 croresTurnover above Rs. 50 crores
Upto. Rs. 1 CroreNilNil
Above Rs. 1 Crore to Rs. 10 Crores7%7%
Above Rs. 10 Crores12%12%

It is calculated on Income tax payable. However, it is to be noted that the amount of Income Tax and Surcharge should not increase the amount of income tax payable on a taxable income by more than the amount of increase in taxable.

  • Education Cess including secondary and higher education cess

It is levied at 3% on total income tax and surcharge.  

  • Income Tax Slab Rates for Company other than domestic company FY 2017-18 i.e. AY 2018-19

ParticularsAssessee
Taxable IncomeIncome Tax Rates
Royalties received from Government or an Indian concern in pursuance of an agreement made by it with the Government or the Indian concern after the 31st day of March, 1961 but before the 1st day of April, 1976 50%
Fees for rendering technical services received from Government or an Indian concern in pursuance of an agreement made by it with the Government or the Indian concern after the 29th day of February, 1964 but before the 1st day of April, 1976, and where such agreement has, in either case, been approved by the Central Government.50%
Others40%
  • Rebate under section 87A :

Benefits under this section is not available to company other than domestic company  

  • Surcharge:
Surcharge for different Income Tax Slabs for FY 2017-18 i.e. AY 2018-19
Income SlabsRate of Surcharge
Upto. Rs. 1 croreNil
Above Rs. 1 crore2%
Above Rs. 10 crores5%

It is calculated on Income tax payable. However, it is to be noted that the amount of Income Tax and Surcharge should not increase the amount of income tax payable on a taxable income by more than the amount of increase in taxable.

  • Education Cess including secondary and higher education cess

It is levied at 3% on total income tax and surcharge.

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