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Budget 2018 - No Change in Individual Income Tax Slab

3% Education Cess to be replaced with Health and Education Cess @ 4% for all taxpayers

Income Tax Slab Rates for FY 2018-2019 AND AY 2019-2020

The normal tax rates applicable to a resident individual will depend on the age of the individual. However, in case of a non-resident individual the tax rates will be same irrespective of his age.

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 above Rs 10,00,000 30%
Surcharge: 10% of income tax, where total income exceeds Rs.50 lakh but doesn't exceed Rs. 1 crore.

Surcharge: 15% of income tax, where the total income exceeds Rs. 1 crore.
Health and Education Cess: 4% on total of income tax + surcharge.




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 above Rs 10,00,000 30%
Surcharge: 10% of income tax, where total income exceeds Rs.50 lakh but doesn't exceed Rs. 1 crore.

Surcharge: 15% of income tax, where the total income exceeds Rs. 1 crore.
Health and Education Cess: 4% on total of income tax + surcharge.


Income Slab Tax Rate
Income up to Rs 5,00,000 No tax
Income from Rs 5,00,000 - 10,00,000 20%
Income above Rs 10,00,000 30%
Surcharge: 10% of income tax, where total income exceeds Rs.50 lakh but doesn't exceed Rs. 1 crore.

Surcharge: 15% of income tax, where the total income exceeds Rs. 1 crore.
Health and Education Cess: 4% on total of income tax + surcharge.


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 above Rs 10,00,000 30%
Surcharge: 10% of income tax, where total income exceeds Rs.50 lakh but doesn't exceed Rs. 1 crore.

Surcharge: 15% of income tax, where the total income exceeds Rs. 1 crore.
Health and Education Cess: 4% on total of income tax + surcharge.