Phoenix Auditing

Income Tax Slab Rates FY 2018-19 (AY 2019-20)

  1. Individual Tax Payers & HUF (Less Than 60 Years Old) FY2018-19
Income Tax Slabs   Tax Rate
Up to ₹2,50,000   Nil
₹2,50,001 to ₹5,00,000   5% of total income exceeding ₹2,50,000
₹5,00,001 to ₹10,00,000   ₹12,500 + 20% of total income exceeding ₹5,00,000
Above ₹10,00,000   ₹1,12,500 + 30% of total income exceeding ₹10,00,000  

Health & Education Cess: 4% on taxes

Surcharge: 10% of income tax, where total income exceeds Rs.50 lakh up to Rs.1 crore.

Surcharge: 15% of income tax, where the total income exceeds Rs.1 crore.

  • Individual Senior Citizens (60 Years Old Or More but Less than 80 Years Old) FY2018-19
Income Tax Slabs   Tax Rate
Up to ₹3,00,000   Nil
₹3,00,001 to ₹5,00,000   5%
₹5,00,001 to ₹10,00,000   20%
Above ₹10,00,000   30%  

Health & Education Cess: 4% on taxes

Surcharge: 10% of income tax, where total income exceeds Rs.50 lakh up to Rs.1 crore.

Surcharge: 15% of income tax, where the total income exceeds Rs.1 crore.