Income Tax Slabs & Rates for non-resident individual tax payers for Assessment Year 2018-19 (applicable on income earned during the year 1st April 2018 to 31st March 2019) as per Budget proposals placed before Parliament on 1st February 2018 by Hon. Finance Minister Shri Arun Jailey.
Standard Deduction of Rs. 40,000/- available under Section 16(ia) w.e.f. 1st April 2018 in lieu of Transport Allowance and Reimbursement of Miscellaneous Medical Expenditure to Salaried Tax Payers.
|Income Slabs||Tax Rates|
|i.||Where the taxable income does not exceed ₹ 2,50,000/-.||NIL|
|ii.||Where the taxable income exceeds ₹ 2,50,000/- but does not exceed ₹ 5,00,000/-.||5% of amount by which the taxable income exceeds ₹ 2,50,000/-.|
|iii.||Where the taxable income exceeds ₹ 5,00,000/- but does not exceed ₹ 10,00,000/-.||₹ 12,500/- + 20% of the amount by which the taxable income exceeds ₹ 5,00,000/-.|
|iv.||Where the taxable income exceeds ₹ 10,00,000/-.||₹ 112,500/- + 30% of the amount by which the taxable income exceeds ₹ 10,00,000/-.|
health & Education Cess : 4% of the total of Income Tax and Surcharge.