Income Tax Slab – A.Y. 2018-19 | A.Y. 2017-18 | 2016-17 and Previous Years

Here you can check income tax slabs for A.Y.2018-19 (Budget 2017) A.Y. 2017-18 A.Y. 2016-17, A.Y. 2015-16 in a very simple manner. So that every layman can understand and calculate income tax in a very easy way. Go direct to:

You can also download Income Tax Slabs from A.Y. 2015-16 to A.Y.2018-19 in PDF format from here.  Download Income Tax Slab

Income Tax Slabs (A.Y. 2018-19) (Proposed in Budget 2017)

1) Individual Residents Aged Below 60 Years (born on or after 1st April 1957)

Read below notes also to calculate income tax.

Slabs (A.Y.2018-19) (Below Age 60 Yr.)
Rates
Income up to Rs. 2,50,000/- NIL
Income from 2,50,010/- to 5,00,000/- 5%
Income from 5,00,010/- to 10,00,000/- 20%
Income Over 10,00,010/- 30%

2) Senior Citizen (Individual Residents Aged of 60 Years or More but below age of 80 Years) (born on or after 1st April 1937 but before 1st April 1957)

Slabs (A.Y.2018-19) (Senior Citizens) Rates
Income up to Rs.3,00,000/- NIL
Income from 3,00,010/- to 5,00,000/- 5%
Income from 5,00,010/- to 10,00,000/- 20%
Income Over 10,00,010/- 30%

3) Very Senior Citizen (Individual Residents Aged of 80 Years or More) (born before 1st April 1937)

Slabs (A.Y.2018-19) (Very Sr. Citizens) Rates
Income up to Rs.5,00,000/- NIL
Income from 5,00,010/- to 10,00,000/- 20%
Income Over 10,00,010/- 30%

Important Notes:

  • Surcharge: 10% of Income Tax, If income is between Rs.50 Laks and Rs. 1 Crore. 15% of Income Tax (if income is more than Rs. 1 Crore)
  • Education Cess: 3% of total of income tax and surcharge (2% education cess + 1 % Secondary and Higher Education cess)
  • Rebate of Income Tax under section 87A: The rebate is allowed to an individual who is resident in India and whose total income does not exceed Rs.3,50,000/-. The rebate available shall be 100% of income tax payable (before cess) or Rs. 2500 Whichever is less.

Income Tax Slabs (A.Y. 2017-18)

1) Individual Residents Aged Below 60 Years (born on or after 1st April 1957)

Read below notes also to calculate income tax.

Slabs (A.Y.2017-18) (Below Age 60 Yr.)
Rates
Income up to Rs.2,50,000/- NIL
Income from 2,50,010/- to 5,00,000/- 10%
Income from 5,00,010/- to 10,00,000/- Rs.25,000 + 20%
Income Over 10,00,010/- Rs.1,25,000 + 30%

 

2) Senior Citizen (Individual Residents Aged of 60 Years or More but below age of 80 Years) (born on or after 1st April 1937 but before 1st April 1957)

Slabs (A.Y.2017-18) (Senior Citizens) Rates
Income up to Rs.3,00,000/- NIL
Income from 3,00,010/- to 5,00,000/- 10%
Income from 5,00,010/- to 10,00,000/- Rs.20,000 + 20%
Income Over 10,00,010/- Rs.1,20,000 + 30%

 

3) Very Senior Citizen (Individual Residents Aged of 80 Years or More) (born before 1st April 1937)

Slabs (A.Y.2017-18) (Very Sr. Citizens) Rates
Income up to Rs.5,00,000/- NIL
Income from 5,00,010/- to 10,00,000/- 20%
Income Over 10,00,010/- Rs.1,00,000/- + 30%

Important Notes:

  • Surcharge: 15% of Income Tax (if income is more than Rs. 1 Crore)
  • Education Cess: 3% of total of income tax and surcharge (2% education cess + 1 % Secondary and Higher Education cess)
  • Rebate of Income Tax under section 87A: The rebate is allowed to an individual who is resident in India and whose total income does not exceed Rs.5,00,000/-. The rebate available shall be 100% of income tax payable (before cess) or Rs. 5000 (Rs.2000 upto A.Y.2016-17), Whichever is less.
  • Margin Relief: The total amount payable as income-tax and surcharge on total income exceeding Rs.1 crore shall not exceed the total amount payable as income-tax on a total income of Rs.1 crore by more than the amount of income that exceeds Rs. 1 crore.

Income Tax Slab (A.Y. 2016-17)

1) Individual Residents Aged Below 60 Years (born on or after 1st April 1956)

Read below notes also to calculate income tax.

Slabs (A.Y.2016-17) (Below Age 60 Yr.)
Rates
Income up to Rs.2,50,000/- NIL
Income from 2,50,010/- to 5,00,000/- 10%
Income from 5,00,010/- to 10,00,000/- Rs.25,000 + 20%
Income Over 10,00,010/- Rs.1,25,000 + 30%

 

2) Senior Citizen (Individual Residents Aged of 60 Years or More but below age of 80 Years) (born on or after 1st April 1936 but before 1st April 1956)

Slabs (A.Y.2016-17) (Senior Citizens) Rates
Income up to Rs.3,00,000/- NIL
Income from 3,00,010/- to 5,00,000/- 10%
Income from 5,00,010/- to 10,00,000/- Rs.20,000 + 20%
Income Over 10,00,010/- Rs.1,20,000 + 30%

 

3) Very Senior Citizen (Individual Residents Aged of 80 Years or More) (born before 1st April 1936)

Slabs (A.Y.2016-17) (Very Sr. Citizens) Rates
Income up to Rs.5,00,000/- NIL
Income from 5,00,010/- to 10,00,000/- 20%
Income Over 10,00,010/- Rs.1,00,000/- + 30%

Important Notes:

  • Surcharge: 12% of Income Tax (if income is more than Rs. 1 Crore)
  • Education Cess: 3% of total of income tax and surcharge (2% education cess + 1 % Secondary and Higher Education cess)
  • Rebate of Income Tax under section 87A: The rebate is allowed to an individual who is resident in India and whose total income does not exceed Rs.5,00,000/-. The rebate available shall be 100% of income tax payable (before cess) or Rs. 2000 (Rs.5000 for A.Y. 2017-18), Whichever is less.
  • Margin Relief: The total amount payable as income-tax and surcharge on total income exceeding Rs.1 crore shall not exceed the total amount payable as income-tax on a total income of Rs.1 crore by more than the amount of income that exceeds Rs. 1 crore.

Download Income Tax Slab (A.Y. 2016-17)


Income Tax Slab (A.Y. 2015-16)

1) Individual Residents Aged Below 60 Years (born on or after 1st April 1955)

Read below notes also to calculate income tax.

Slabs (A.Y.2015-16) (Below Age 60 Yr.)
Rates
Income up to Rs.2,50,000/- NIL
Income from 2,50,010/- to 5,00,000/- 10%
Income from 5,00,010/- to 10,00,000/- Rs.25,000 + 20%
Income Over 10,00,010/- Rs.1,25,000 + 30%

2) Senior Citizen (Individual Residents Aged of 60 Years or More but below age of 80 Years) (born on or after 1st April 1935 but before 1st April 1955)

Slabs (A.Y.2015-16) (Senior Citizens) Rates
Income up to Rs.3,00,000/- NIL
Income from 3,00,010/- to 5,00,000/- 10%
Income from 5,00,010/- to 10,00,000/- Rs.20,000 + 20%
Income Over 10,00,000/- Rs.1,20,000 + 30%

3) Very Senior Citizen (Individual Residents Aged of 80 Years or More) (born before 1st April 1935)

Slabs (A.Y.2017-18) (Very Sr. Citizens) Rates
Income up to Rs.5,00,000/- NIL
Income from 5,00,010/- to 10,00,000/- 20%
Income Over 10,00,010/- Rs.1,00,000/- + 30%

Important Notes:

  • Surcharge10% of Income Tax (if income is more than Rs. 1 Crore)
  • Education Cess3% of total of income tax and surcharge (2% education cess + 1 % Secondary and Higher Education cess)
  • Margin Relief: The total amount payable as income-tax and surcharge on total income exceeding Rs.1 crore shall not exceed the total amount payable as income-tax on a total income of Rs.1 crore by more than the amount of income that exceeds Rs. 1 crore. 

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TDS Rates Check Here

42 COMMENTS

  1. aprt from 80c, any other option to save tax, who is earning above 10 lakhs, please let me know, it would be great help!

  2. My annual income is 8 lacs , and my tax is coming to 96000/- approx. can u please tell me how to save maximum of this . some thing like 100% tax saving, if any.

    • you can get rebarte under sec.80c of rs 150000 in which include lic,ppf,tution fees,insurance of any bank,tax saving fdr,repayment of loan.and your saving bank interest also exempt under section 80TTA.Without this you can claim mediclaim u/s 80 D and donation also u/s 80 G.

  3. this is a few details
    please give 2-4 example
    how you calculate total
    income than rebate u/s
    last total income & total tax
    payble or refundeble

  4. Dear Sir,
    My salary is Rs 320000/- p.a, my savings under 80 c is Rs 1 lakh, i get Rs 50000/- p.a as interest from Rs 5 lakhs fixed deposit kept in bank,
    ‘ does iam eligible to give Form 15G to the bank to get exemption of tds for Rs 5 lakhs fixed deposit a/c , as my taxable limit crosses Rs 2 lakhs’
    kindly advice me, sir
    thank u..

    • 15G ONLY GIVEN IF UR TOTALL INCOME NOT EXCEEDING RS. 2.20LAC AY2014-15.
      IF U WANT TO SAVE OUR TAX U CAN DERIVE OUR INCOME FROM INTEREST AS WELL AS YOUR WIFE INCOME / SON INCOME
      FOR 2014-15 U CAN ALSO CLAIMED (2LAC+.20 REBATE+1LAC UNDER 80C)
      ANY QUERY MAIL ME amrishrbl@gmail.com

  5. I would like to know the Tax rates for A.O.P. for the F. Y. 2013-14 and 2014-15.

    I would also like to know if i have a interest income in A. O. P. say about Rs. 75,000 then if i have paid the salary for accounting charges like Rs. 20,000 , then net income will be Rs. 55,000
    So my question is how the income tax calculate on this for the above two Financial Years.

    I hope you will help me out to understand.
    Thanks

    • if interest income is ur hand so taxable in ur income.
      if the interest recd from aop it will also show as well as income less : expences(accountancy charges-cheque/draft payment)

  6. had a doubt..
    i am an individual and wish to do some business online and i open it with my individual bank account!
    so my question is will i be taxed for entire turnover amount of my business?
    ex:- i own a data entry site! so i get money from clints and advertisers and pay for my users!
    lets say i get 10 lacks from clints and i pay 6 lacks for members as there remuneration! so will i need to pay tax for entire 10 lacks?
    if so how much percentage???

    • no way
      income recd from client is ur gross totall income
      income tax applicable on net income from bussiness (gross totall income- operating expences )

  7. It is very good ready recker for all type of people. But some people asked small clarification, If you clarify it would be nice.

  8. when referring to “Slabs of Income”, in the Table of Income tax to be paid, it would have been extremely helpful if you had clarified that the Slabs referred to “Net Income” slabs and not “Gross Income”

  9. Pl correct the error in the coloured table for senior citizens below 80 years the second stage upto 5 laks attracts 10% pl verify

  10. For senior citizens in blue colour it indicates for RS three to five lacs , there will be no tax is it ok.
    I doubted plz rectify the same.

  11. Sir kindly send me the income tax slab for multi-state housing co-op society for AY 2015-16 & 2016-17.
    Sir is there any change in taxation slabs of current account of my co-op society as compare to any saving account?
    If any amount go through my saving account to co-op society current account then may I have to pay taxes on my both accounts? Kindly reply me.

  12. Senior citizens with their savings to live in future find difficult with taxation proposal not changing slabs.now a days by paying rental residence, Rs1000/-p.mfor medical expenses+doc. Consultations
    hence forth food expenses Rs56/- a k.g of rice , dhall Rs129/- ,cooking oil Rs 91/- per liter and LPG Rs 700/- milk 50/-,per litre. Provision on an average Rs 200/- per kg., life becomes miserable to live in India with old age husband/wife.
    Taxation in India has to be taught revised. Proportionately. With living conditions

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