December 14, 2018

Slab Rates for AY 2017-18

Slab Rates for AY 2017-18

 

Slab Rate for Individual 

  • Senior Citizen (Resident in India) having age 60 years or above  but below 80 years
    Taxable IncomeRate of Tax
    Upto 3,00,000NIL
    3,00,001-5,00,00010%
    5,00,001-10,00,00020%
    Above 10,00,00030%
  • Senior Citizen (Resident in India) having age 80 years or above
    Taxable IncomeRate of Tax
    Upto 5,00,000Nil
    5,00,001-10,00,00020%
    Above 10,00,00030%
  • Individual (Resident or Non resident in India) below 60 years of age, Non Resident Senior Citizen
    Taxable IncomeRate of Tax
    Upto 2,50,000Nil
    2,50,001-5,00,00010%
    5,00,001-10,00,00020%
    Above 10,00,00030%

Rebate u/s 87 A :- Resident Individual total Income upto 5Lakh — rebate of Rs. 5,000or 100% of income tax whichever is lower

Surcharge 15% if taxable income exceeds Rs.1Crore for individual

 

Slab Rates for Hindu Undivided Family(HUF), Body of Individual(BOI) , Association of Persons(AOP), Artificial Juridical Person

Taxable IncomeRate of Tax
Upto 2,50,000Nil
2,50,001-5,00,00010%
5,00,001-10,00,00020%
above 10,00,00030%

Surcharge 15% if taxable income exceeds Rs.1Crore

Slab Rates for Firms

  • Partnership Firms, LLPs, Local Authorities              30%

Surcharge 12% if taxable income exceeds Rs.1Crore

 

Slab Rates for Co-operative Society

Taxable IncomeRate of Tax
Upto 10,00010%
10,001-20,00020%
Above 20,00030%

 

Slab Rates for Companies

Domestic Companies

  • In case its total turnover or Gross Receipts duringPrevious years 2014-15 does not exceed Rs.5 Crore                                           29%
  • Other Company                                                                                                 30%Surcharge 7% if taxable income exceeds Rs.1Crore

    Surcharge 12% if taxable income exceeds Rs.10Crore

*  Education Cess is 2% of Income Tax and Surcharge

*   Secondary and Higher Education Cess is 1% of Income Tax and Surcharge

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