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Modified on : 7 August, 2018

Income Tax Slabs and Rates for AY 2019-20

Income Tax Slabs / Income Tax Rates for AY 2019-20 (applicable on income earned during 01.04.2018 to 31.03.2019) for various categories of Indian Income Tax payers.

Individual resident aged below 60 years (Individual resident born on or after 1st April 1959)

Change Assessment Year
Income Tax
Upto ₹ 2,50,000/-NIL
Above ₹ 2,50,000/- to ₹ 5,00,000/-5% of (taxable income - 2,50,000)
Tax Relief u/s 87A : In case taxable income is upto ₹ 3,50,000/-, income tax chargeable or ₹ 2,500/-, whichever is less.
Above ₹ 5,00,000/- to ₹ 10,00,000/-₹ 12,500/- + 20% of (taxable income - 5,00,000)
Above ₹ 10,00,000/-₹ 112,500/- + 30% of (taxable income - 10,00,000).
Surcharge
10% of Income Tax, where taxable income exceeds ₹ 50 lacs, subject to Marginal Relief.
15% of Income Tax, where taxable income exceeds ₹ 1 crore, subject to Marginal Relief.
Health & Education Cess
4% of (Income Tax + Surcharge).

Senior Citizen (Individual resident born on or after 1st April 1939 but before 1st April 1959)

Income Tax
Upto ₹ 3,00,000/-NIL
Above ₹ 3,00,000/- to ₹ 5,00,000/-5% of (taxable income - 3,00,000)
Tax Relief u/s 87A : In case taxable income is upto ₹ 3,50,000/-, income tax chargeable or ₹ 2,500/-, whichever is less.
Above ₹ 5,00,000/- to ₹ 10,00,000/-₹ 10,000/- + 20% of (taxable income - 5,00,000).
Above ₹ 10,00,000/-₹ 110,000/- + 30% of (taxable income - 10,00,000)
Surcharge
10% of Income Tax, where taxable income exceeds ₹ 50 lacs, subject to Marginal Relief.
15% of Income Tax, where taxable income exceeds ₹ 1 crore, subject to Marginal Relief.
Health & Education Cess
4% of (Income Tax + Surcharge).

Very Senior Citizen (Individual resident born before 1st April 1939)

Income Tax
Upto ₹ 5,00,000/-NIL
Above ₹ 5,00,000/- to ₹ 10,00,000/-20% of (taxable income - 5,00,000).
Above ₹ 10,00,000/-₹ 100,000/- + 30% of (taxable income - 10,00,000)
Surcharge
10% of Income Tax, where taxable income exceeds ₹ 50 lacs, subject to Marginal Relief.
15% of Income Tax, where taxable income exceeds ₹ 1 crore, subject to Marginal Relief.
Health & Education Cess
4% of (Income Tax + Surcharge).

Any NRI or HUF or AOP or BOI or AJP

Income Tax
Upto ₹ 2,50,000/-NIL
Above ₹ 2,50,000/- to ₹ 5,00,000/-5% of (taxable income - 2,50,000).
Above ₹ 5,00,000/- to ₹ 10,00,000/-₹ 12,500/- + 20% of (taxable income - 5,00,000).
Above ₹ 10,00,000/-₹ 112,500/- + 30% (taxable income - 10,00,000)
Surcharge
10% of Income Tax, where taxable income exceeds ₹ 50 lacs, subject to Marginal Relief.
15% of Income Tax, where taxable income exceeds ₹ 1 crore, subject to Marginal Relief.
Health & Education Cess
4% of (Income Tax + Surcharge).

Co-operative Society

Income Tax
Upto ₹ 10,000/-10% of the income.
Above ₹ 10,000/- to ₹ 20,000/-₹ 1,000/- + 20% of (taxable income - 10,000)
Above ₹ 20,000/-₹ 3,000/- + 30% of (taxable income - 20,000)
Surcharge
12% of Income Tax, where taxable income exceeds ₹ 1 crore, subject to Marginal Relief.
Health & Education Cess
4% of (Income Tax + Surcharge).

Firm

Income Tax
30% of taxable income.
Surcharge
12% of Income Tax, where taxable income exceeds ₹ 1 crore, subject to Marginal Relief.
Health & Education Cess
4% of (Income Tax + Surcharge).

Local Authority

Income Tax
30% of taxable income.
Surcharge
12% of Income Tax, where taxable income exceeds ₹ 1 crore, subject to Marginal Relief.
Health & Education Cess
4% of (Income Tax + Surcharge).

Domestic Company - Turnover upto ₹ 250 crores

Income Tax
25% of taxable income.
Surcharge
7% of income tax, where taxable income exceeds ₹ 1 crore, subject to Marginal Relief.
12% of income tax, where taxable income exceeds ₹ 10 crores, subject to Marginal Relief.
Health & Education Cess
4% of (Income Tax + Surcharge).

Domestic Company - Turnover exceeding ₹ 250 crores

Income Tax
30% of taxable income.
Surcharge
7% of income tax, where taxable income exceeds ₹ 1 crore, subject to Marginal Relief.
12% of income tax, where taxable income exceeds ₹ 10 crores, subject to Marginal Relief.
Health & Education Cess
4% of (Income Tax + Surcharge).

Company other than a Domestic Company

Income Tax
Royalty received from Government or an Indian concern in pursuance of an agreement made with the Indian concern after March 31, 1961, but before April 1, 1976, or fees for rendering technical services in pursuance of an agreement made after February 29, 1964 but before April 1, 1976 and where such agreement has, in either case, been approved by the Central Government50%
Any other income40%
Surcharge
2% of income tax, where taxable income exceeds ₹ 1 crore, subject to Marginal Relief.
5% of income tax, where taxable income exceeds ₹ 10 crores, subject to Marginal Relief.
Health & Education Cess
4% of (Income Tax + Surcharge).

Marginal Relief on Surcharge

When an assessee's taxable income exceeds ₹ 50 lacs / 1 crore / 10 crores, he is liable to pay Surcharge at prescribed rates mentioned above on Income Tax payable by him. However, the amount of Income Tax and Surcharge shall not increase the amount of income tax payable on a taxable income of ₹ 50 lacs / 1 crore / 10 crores by more than the amount of increase in taxable income respectively.

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