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Friday, 6 April 2018

IT FORM FOR AY 2018-19

Income Tax Slab for Individual Tax Payers & HUF (Less Than 60 Years Old) for FY 2018-19 – Part I


  • Income up to Rs 2,50,000* No tax  
  • Income from Rs 2,50,000 – Rs 5,00,000 5% Save Rs 7,500 in taxes. 
  • Income from Rs 5,00,000 – 10,00,000 20% Save Rs 30,000 in taxes. Save Taxes
  • Income more than Rs 10,00,000 30% Save Rs 45,000 in taxes. Save Taxes

Surcharge: 10% of income tax, where total income exceeds Rs.50 lakh up to Rs.1 crore.

Surcharge: 15% of income tax, where the total income exceeds Rs.1 crore.

Health & Education Cess: 4% of Income Tax.

*Income tax exemption limit for FY 2018-19 is up to Rs. 2,50,000 for individual & HUF other than those covered in Part(II) or (III)

Income Tax Slab for Senior Citizens (60 Years Old Or More but Less than 80 Years Old) for FY 2018-19 – Part II


  • Income up to Rs 3,00,000* No tax  
  • Income from Rs 3,00,000 – Rs 5,00,000 5% Save Rs 7,500 in taxes. Save Taxes
  • Income from Rs 5,00,000 – 10,00,000 20% Save Rs 30,000 in taxes. Save Taxes
  • Income more than Rs 10,00,000 30% Save Rs 45,000 in taxes. Save Taxes

Surcharge: 10% of income tax, where total income exceeds Rs.50 lakh up to Rs.1 crore.

Surcharge: 15% of income tax, where the total income exceeds Rs.1 crore.

Health & Education Cess: 4% of Income Tax.

*Income tax exemption limit for FY 2018-19 is up to Rs. 3,00,000 other than those covered in Part(I) or (III)

Income Tax Slab for Senior Citizens(80 Years Old Or More) for FY 2018-19 – Part III


  • Income up to Rs 5,00,000* No tax  
  • Income from Rs 5,00,000 – 10,00,000 20% Save Rs 30,000 in taxes. Save Taxes
  • Income more than Rs 10,00,000 30% Save Rs 45,000 in taxes. Save Taxes

Surcharge: 10% of income tax, where total income exceeds Rs.50 lakh up to Rs.1 crore.

Surcharge: 15% of income tax, where the total income exceeds Rs.1 crore.

Health & Education Cess: 4% of Income Tax.

*Income tax exemption limit for FY 2018-19 is up to Rs. 5,00,000 other than those covered in Part(I) or (II)

Income Tax Slab for Domestic Companies for FY 2018-19 – Part IV


  • Gross turnover upto 250 Cr. in the previous year 25%
  • Gross turnover exceeding 250 Cr. in the previous year 29%

In addition cess and surcharge is levied as follows:

Cess: 4% of corporate tax
Surcharge: Taxable income is more than 1Cr. but less than 10Cr.: 7%
Taxable income is more than 10Cr. :12%

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

Income Tax Slab for Individual Tax Payers & HUF (Less Than 60 Years Old) for FY 2017-18 – Part I


  • Income up to Rs 2,50,000* No tax  
  • Income from Rs 2,50,000 – Rs 5,00,000 5% Save Rs 7,500 in taxes. Save Taxes
  • Income from Rs 5,00,000 – 10,00,000 20% Save Rs 30,000 in taxes. Save Taxes
  • Income more than Rs 10,00,000 30% Save Rs 45,000 in taxes. Save Taxes

Surcharge: 10% of income tax, where total income exceeds Rs.50 lakh up to Rs.1 crore.

Surcharge: 15% of income tax, where the total income exceeds Rs.1 crore.

Higher education and secondary cess: 3% of Income Tax.

*Income tax exemption limit for FY 2017-18 is up to Rs. 2,50,000 for individual & HUF other than those covered in Part(II) or (III)

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