Income Tax Slab F.Y. 2018-19 & A.Y. 2019-2020 (Salary)

Income Tax Slab F.Y. 2018-19 & A.Y. 2019-2020 (Salary). Individual, HUF, BOI, AOP, AJP below the age of 60 years, being a resident of India.

Sl. No.	Net Income Level	Rate of Income Tax
i.	Income Less than Rs. 2.5 Lakh	NIL
ii.	Income greater than Rs. 2.5 Lakh but Less than Rs. 5 Lakh	5% of balance amount which exceeds Rs. 2.5 Lakh Tax Relief u/s 87A - Rebate u/s 87A Rs. 5000/- for individuals having total income (taxable income) up to Rs. 3.5 lakhs.
iii.	Income greater than Rs. 5 Lakh but Less than Rs. 10 Lakh	Rs. 12500/- Plus 20% of balance amount which exceeds Rs. 5 Lakh
iv.	Income greater than Rs. 10 Lakh	Rs. 112500/- Plus 30% of balance amount which exceeds Rs. 10 Lakh

Note: 1. Cess@4% extra applicable for all cases

Note 2. Surcharge :

a)     10% of the Income Tax, where taxable income is more than Rs. 50 Lacs up to Rs. 1 Crore.

b)     15% of the Income Tax, where taxable income is more than Rs. 1 Crore.

Income Tax Slab F.Y. 2018-19 & A.Y. 2019-2020 (Salary). Individual age of 60 years or above but less than 80 years, being a resident of India.

Sl. No.	Net Income Level	Rate of Income Tax
i.	Income Less than Rs. 3 Lakh	NIL
ii.	Income greater than Rs. 3 Lakh but Less than Rs. 5 Lakh	5% of balance amount which exceeds Rs. 3 Lakh
iii.	Income greater than Rs. 5 Lakh but Less than Rs. 10 Lakh	Rs. 10000/- Plus 20% of balance amount which exceeds Rs. 5 Lakh
iv.	Income greater than Rs. 10 Lakh	Rs. 110000/- Plus 30% of balance amount which exceeds Rs. 10 Lakh

Note: 1. Cess@4% extra applicable for all cases

Note 2. Surcharge :

a)     10% of the Income Tax, where taxable income is more than Rs. 50 Lacs up to Rs. 1 Crore.

b)     15% of the Income Tax, where taxable income is more than Rs. 1 Crore.

Income Tax Slab F.Y. 2018-19 & A.Y. 2019-2020 (Salary). Individual age of 80 years or above, being a resident of India.

Sl. No.	Net Income Level	Rate of Income Tax
i.	Income Less than Rs. 5 Lakh	NIL
ii.	Income greater than Rs. 5 Lakh but Less than Rs. 10 Lakh	20% of balance amount which exceeds Rs. 5 Lakh
iii.	Income greater than Rs. 10 Lakh	Rs. 100000/- Plus 30% of balance amount which exceeds Rs. 10 Lakh

Note: 1. Cess@4% extra applicable for all cases

Note 2. Surcharge :

a)     10% of the Income Tax, where taxable income is more than Rs. 50 Lacs up to Rs. 1 Crore.

b)     15% of the Income Tax, where taxable income is more than Rs. 1 Crore.