Income Tax Rates in India FY 2018-19, AY 2019-20

Income tax Rates and Slab for Financial Year 2018-2019, Assessment Year 2019-2020 is as under:

 

 

 

 

 

1. Individuals and HUF

Income tax slab for Individuals below 60 years men and women and HUF for FY 2018-19

Income Slab Tax Rate Surcharge Education Cess
Income upto Rs. 2,50,000 Nil 10% Surcharge for total income from Rs. 50 laksh to Rs. 1 Crore.

15% Surcharge where total income Exceeds Rs. 1 Crore

4% Education cess on Total income tax + surcharge
Rs. 2,50,000 to Rs. 5,00,000 5%
Rs. 5,00,000 to Rs. 10,00,000 20%
Rs. 10,00,000 above 30%

 

2. Senior Citizens 60 years to 80 years

Income tax slab for Senior Citizens 60 year to 80 years men and women for FY 2018-19

Income Slab Tax Rate Surcharge Education Cess
Income upto Rs. 3,00,000 Nil 10% Surcharge for total income from Rs. 50 laksh to Rs. 1 Crore.

15% Surcharge where total income Exceeds Rs. 1 Crore

4% Education cess on Total income tax + surcharge
Rs. 3,00,000 to Rs. 5,00,000 5%
Rs. 5,00,000 to Rs. 10,00,000 20%
Rs. 10,00,000 above 30%

 

 

 

3. Senior Citizen 80 years and above men and women

Income Slab Tax Rate Surcharge Health & Education Cess
Upto Rs. 2,50,000 Nil 10% Surcharge for total income from Rs. 50 laksh to Rs. 1 Crore.

15% Surcharge where total income Exceeds Rs. 1 Crore

4% Education cess on Total income tax + surcharge
Rs. 2,50,000 to Rs. 5,00,000 Nil
Rs. 5,00,000 to Rs. 10,00,000 20%
Rs. 10,00,000 above 30%

 

 

4. Partnership Firm

Income Slab Tax Rate Health & Education Cess
Income Tax Rate 30% 4%
Surcharge

Income Less than Rs. 1 Crore

More than Rs. 1 Crore

 

Nil

12%

 

 

 

 

5. Cooperative Society

Income Slab Tax Rate Health & Education Cess
Income Tax Upto Rs. 10,000 10% 4% Education cess on Total income tax + surcharge
Income Rs. 10,000 to Rs. 20,000 20%
Income above Rs. 30,000 30%

 

6. Companies

Income Slab Tax Rate Health & Education Cess
Turnover upto 250 Crores in Previous Year 25% 4% Education cess on Total income tax + surcharge
Turnover Exceeding 250 Crores 30%
Foreign Company 40%
Surcharge

Domestic Company

Income Less than Rs. 1 Crore

Income Rs. 1 Crore to Rs. 10 Crore

More than Rs. 10 Crore

 

 

 

Nil

7%

12%

 

 

Foreign Company

Income Less than Rs. 1 Crore

Income Rs. 1 Crore to Rs. 10 Crore

More than Rs. 10 Crore

 

Nil

2%

5%

 

 

 

 

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