Income Tax Slab

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Income Tax Slabs for FY 2017-18
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• The rate of income tax applicable to each
  individual will be determined by the income
  earned by him/her.
• Income tax slabs help in identifying how much tax
  each individual has to pay.
• The higher the annual income earned by an
  individual, the higher the tax rate applicable to
  him/her.

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Income tax slab for individuals who are under 60
years of age
Yearly Income Tax Rates Education Cess Secondary and Higher Education Cess
Up to Rs.2.5 lakh Nil Nil Nil
Rs.2,50,001 to Rs.5 lakh 5 2 of income tax 1 of income tax
Rs.5,00,001 to Rs.10 lakh Rs.12,500 20 2 of income tax 1 of income tax
Above Rs.10 lakh Rs.1,12,500 30 2 of income tax 1 of income tax
 
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Income tax slab for individuals between 60 and 80
years of age

Yearly Income Tax Rates Education Cess Secondary and Higher Education Cess
Up to Rs.3 lakh Nil Nil Nil
Rs.3,00,001 to Rs.5 lakh 5 2 of income tax 1 of income tax
Rs.5,00,001 to Rs.10 lakh Rs.10,000 20 2 of income tax 1 of income tax
Above Rs.10 lakh Rs.1,10,000 30 2 of income tax 1 of income tax
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Income tax slab for individuals older than 80
years of age
Yearly Income Tax Rates Education Cess Secondary and Higher Education Cess
Up to Rs.5 lakh Nil Nil Nil
Rs.5,00,001 to Rs.10 lakh 20 2 of income tax 1 of income tax
Above Rs.10 lakh Rs.1 lakh 30 2 of income tax 1 of income tax

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