New Income Tax Slabs 2018 | India

Financial Year 2017-18, Assessment Year 2018-19, The finance minister has reduced the income tax slab from 10% to 5% in the slab of 2.5 lakhs and 5 lakhs. With this, there is a proposal to reduce the existing rebates (currently up to Rs 5 lakhs) under section 87A from Rs 3.5 lakh to Rs 2.5 lakh, from Rs 5000 to Rs 2500.

Age<60

Income less than Rs. 2,50,000 = Zero, The total income is more than Rs 2,0,000 but less than Rs 5,00,000 = 5% on income which is more than 2,50,000, Total income is more than Rs. 5,00,000 but less than Rs. 10,00,000 = 20% of what is more than 5,00,000, Total income is more than Rs. 10,00,000 = 30% more income than 10,00,000

Age>60

Tax Rates Income less than Rs. 3,00,000 = Zero, Total income is more than Rs. 3,00,000 but less than Rs. 5,00,000  = 5% on income which is more than 3,00,000, Total income is more than Rs. 5,00,000 but less than Rs. 10,00,000 = 20% of what is more than 5,00,000, Total income is more than Rs. 10,00,000 = 30% more income than 10,00,000.

60<Age<80

Income less than Rs. 3,00,000 = Zero, Total income is more than Rs. 3,00,000 but less than Rs. 5,00,000 = 5% on income which is more than 3,00,000, Total income is more than Rs. 5,00,000 but less than Rs. 10,00,000 = 20% of what is more than 5,00,000, Total income is more than Rs. 10,00,000 = 30% more income than 10,00,000.

Age>80

Income less than Rs. 5,00,000 = Zero, Total income is more than Rs. 5,00,000 but less than Rs. 10,00,000 = 20% of what is more than 5,00,000, Total income is more than Rs. 10,00,000 = 30% more income than 10,00,000.

No Fields Found.
Please follow and like us:
0
Powered by ABIEHost.com