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

Income Tax Slabs:

There is NO separate tax slab for men and women. Earlier women used to have slight benefit over men in terms of lower taxes!

The tax slabs are determined on age of person. As of today there are 3 slab rates based on age:

1. Below 60 years of age
2. Senior Citizens (60 to less than 80 years of age)
3. Very Senior Citizens (80+ years of age)

Income Tax Slab for HUFs & Individuals (below 60 years – for both Men & Women)

Income Slab	Tax Rate
Income up to Rs 2,50,000	No Tax
Income from Rs 2,50,000 – Rs 5,00,000	5%
Income from Rs 5,00,000 – 10,00,000	20%
Income more than Rs 10,00,000	30%
Surcharge: 10% surcharge on income tax if the total income exceeds Rs 50 Lakhs but below Rs 1 crore 15% surcharge on income tax if the total income exceeds Rs 1 crore Education Cess: 2% cess on income tax including surcharge Secondary and Higher Education Cess: 1% cess on income tax including surcharge Rebate under Section 87A: Rs 2,500 or 100% of income tax (whichever is lower) for individuals with income below Rs 3.5 Lakhs

Income tax slab for senior citizens (60 years to less than 80 years old) (both men & women)

Income Slab	Tax Rate
Income up to Rs 3,00,000	No Tax
Income from Rs 3,00,000 – Rs 5,00,000	5%
Income from Rs 5,00,000 – 10,00,000	20%
Income more than Rs 10,00,000	30%
Surcharge: 10% surcharge on income tax if the total income exceeds Rs 50 Lakhs but below Rs 1 crore 15% surcharge on income tax if the total income exceeds Rs 1 crore Education Cess: 2% cess on income tax including surcharge Secondary and Higher Education Cess: 1% cess on income tax including surcharge Rebate under Section 87A: Rs 2,500 or 100% of income tax (whichever is lower) for individuals with income below Rs 3.5 Lakhs

Income tax slab for Very senior citizens (80 years or more) (both men & women)

Income Slab	Tax Rate
Income up to Rs 2,50,000	No Tax
Income from Rs 2,50,000 – Rs 5,00,000	No Tax
Income from Rs 5,00,000 – 10,00,000	20%
Income more than Rs 10,00,000	30%
Surcharge: 10% surcharge on income tax if the total income exceeds Rs 50 Lakhs but below Rs 1 crore 15% surcharge on income tax if the total income exceeds Rs 1 crore Education Cess: 2% cess on income tax including surcharge Secondary and Higher Education Cess: 1% cess on income tax including surcharge