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Income Tax

Income Tax Rates 2017-2018

&NewLine;<h2 class&equals;"wp-block-heading">Income Tax Rates for FY 2017-2018<&sol;h2>&NewLine;&NewLine;&NewLine;&NewLine;<p>Income Tax rates depend on your total yearly income&period; If your yearly income exceeds these slabs you need to pay tax on your income depending on your income&period; Even&comma; if you are earning less than taxable income&comma; it is advisable to file your tax returns&period;<&sol;p>&NewLine;&NewLine;&NewLine;&NewLine;<h2 class&equals;"wp-block-heading"><strong><small>Income tax exemption limit for FY 2017-18 is up to Rs&period; 2&comma;50&comma;000 for individual &amp&semi; HUF<&sol;small><&sol;strong><&sol;h2>&NewLine;&NewLine;&NewLine;&NewLine;<div class&equals;"table-responsive">&NewLine;<table class&equals;"table table-header-striped table-bordered">&NewLine;<thead>&NewLine;<tr>&NewLine;<th>Income Slab<&sol;th>&NewLine;<th>Tax Rate<&sol;th>&NewLine;<&sol;tr>&NewLine;<&sol;thead>&NewLine;<tbody>&NewLine;<tr>&NewLine;<td>Income up to Rs 2&comma;50&comma;000&ast;<&sol;td>&NewLine;<td>No tax<&sol;td>&NewLine;<&sol;tr>&NewLine;<tr>&NewLine;<td>Income from Rs 2&comma;50&comma;000 – Rs 5&comma;00&comma;000<&sol;td>&NewLine;<td>5&percnt;<&sol;td>&NewLine;<&sol;tr>&NewLine;<tr>&NewLine;<td>Income from Rs 5&comma;00&comma;000 – 10&comma;00&comma;000<&sol;td>&NewLine;<td>20&percnt;<&sol;td>&NewLine;<&sol;tr>&NewLine;<tr>&NewLine;<td>Income more than Rs 10&comma;00&comma;000<&sol;td>&NewLine;<td>30&percnt;<&sol;td>&NewLine;<&sol;tr>&NewLine;<tr>&NewLine;<td colspan&equals;"4"><strong>Surcharge&colon;<&sol;strong>&nbsp&semi;10&percnt; of&nbsp&semi;income tax&comma; where total income exceeds Rs&period;50 lakh up to Rs&period;1 crore&period;<small><strong>Surcharge&colon;<&sol;strong>&nbsp&semi;15&percnt; of income tax&comma; where the total income exceeds Rs&period;1 crore&period;<&sol;small><&sol;td>&NewLine;<&sol;tr>&NewLine;<tr>&NewLine;<td colspan&equals;"4"><small><strong>Cess&colon;<&sol;strong>&nbsp&semi;3&percnt; on total of income tax &plus; surcharge&period;<&sol;small><&sol;td>&NewLine;<&sol;tr>&NewLine;<tr>&NewLine;<td colspan&equals;"4"><span style&equals;"font-size&colon; 13&period;3333px&semi;">Credit&colon;&nbsp&semi;<a href&equals;"https&colon;&sol;&sol;incometaxindiaefiling&period;gov&period;in&sol;">https&colon;&sol;&sol;incometaxindiaefiling&period;gov&period;in&sol;<&sol;a><&sol;span><&sol;td>&NewLine;<&sol;tr>&NewLine;<&sol;tbody>&NewLine;<&sol;table>&NewLine;<&sol;div>&NewLine;&NewLine;&NewLine;&NewLine;<h3 class&equals;"wp-block-heading"><strong><br &sol;>Income Tax Slab Senior Citizens &lpar;60-80 Years Old Men &amp&semi; Women&rpar;<br &sol;><&sol;strong><&sol;h3>&NewLine;&NewLine;&NewLine;&NewLine;<div class&equals;"table-responsive">&NewLine;<table class&equals;"table table-header-striped table-bordered" style&equals;"height&colon; 460px&semi;" width&equals;"792"> <&sol;colgroup>&NewLine;<thead>&NewLine;<tr>&NewLine;<th>Income Slab<&sol;th>&NewLine;<th>Tax Rate<&sol;th>&NewLine;<&sol;tr>&NewLine;<&sol;thead>&NewLine;<tbody>&NewLine;<tr>&NewLine;<td>Income up to Rs 3&comma;00&comma;000&ast;<&sol;td>&NewLine;<td>No tax<&sol;td>&NewLine;<&sol;tr>&NewLine;<tr>&NewLine;<td>Income from Rs 3&comma;00&comma;000 – Rs 5&comma;00&comma;000<&sol;td>&NewLine;<td>5&percnt;<&sol;td>&NewLine;<&sol;tr>&NewLine;<tr>&NewLine;<td>Income from Rs 5&comma;00&comma;000 – 10&comma;00&comma;000<&sol;td>&NewLine;<td>20&percnt;<&sol;td>&NewLine;<&sol;tr>&NewLine;<tr>&NewLine;<td>Income more than Rs 10&comma;00&comma;000<&sol;td>&NewLine;<td>30&percnt;<&sol;td>&NewLine;<&sol;tr>&NewLine;<tr>&NewLine;<td colspan&equals;"4"><strong>Surcharge&colon;<&sol;strong>&nbsp&semi;10&percnt; of income tax&comma; where total income exceeds Rs&period;50 lakh upto Rs&period;1 crore&period;<small><strong>Surcharge&colon;<&sol;strong>&nbsp&semi;15&percnt; of income tax&comma; where the total income exceeds Rs&period;1 crore&period;<&sol;small><&sol;td>&NewLine;<&sol;tr>&NewLine;<tr>&NewLine;<td colspan&equals;"4"><small><strong>Cess&colon;<&sol;strong>&nbsp&semi;3&percnt; on total of income tax &plus; surcharge&period;<&sol;small><&sol;td>&NewLine;<&sol;tr>&NewLine;<tr>&NewLine;<td colspan&equals;"4">Credit&colon;&nbsp&semi;<a href&equals;"https&colon;&sol;&sol;incometaxindiaefiling&period;gov&period;in&sol;">https&colon;&sol;&sol;incometaxindiaefiling&period;gov&period;in&sol;<&sol;a><&sol;td>&NewLine;<&sol;tr>&NewLine;<&sol;tbody>&NewLine;<&sol;table>&NewLine;<&sol;div>&NewLine;&NewLine;&NewLine;&NewLine;<h3 class&equals;"wp-block-heading">&nbsp&semi;<&sol;h3>&NewLine;&NewLine;&NewLine;&NewLine;<h3 class&equals;"m40 mb20 wp-block-heading"><strong>Income Tax Slab Senior Citizens Above 80 Years Old For Men &amp&semi; Women<&sol;strong><&sol;h3>&NewLine;&NewLine;&NewLine;&NewLine;<div class&equals;"table-responsive">&NewLine;<table class&equals;"table table-header-striped table-bordered" style&equals;"height&colon; 413px&semi;" width&equals;"691"> <&sol;colgroup>&NewLine;<thead>&NewLine;<tr>&NewLine;<th>Income Slab<&sol;th>&NewLine;<th>Tax Rate<&sol;th>&NewLine;<&sol;tr>&NewLine;<&sol;thead>&NewLine;<tbody>&NewLine;<tr>&NewLine;<td>Income up to Rs 2&comma;50&comma;000&ast;<&sol;td>&NewLine;<td>No tax<&sol;td>&NewLine;<&sol;tr>&NewLine;<tr>&NewLine;<td>Income up to Rs 5&comma;00&comma;000&ast;<&sol;td>&NewLine;<td>No tax<&sol;td>&NewLine;<&sol;tr>&NewLine;<tr>&NewLine;<td>Income from Rs 5&comma;00&comma;000 hjm – 10&comma;00&comma;000<&sol;td>&NewLine;<td>20&percnt;<&sol;td>&NewLine;<&sol;tr>&NewLine;<tr>&NewLine;<td>Income more than Rs 10&comma;00&comma;000<&sol;td>&NewLine;<td>30&percnt;<&sol;td>&NewLine;<&sol;tr>&NewLine;<tr>&NewLine;<td colspan&equals;"4"><small><strong>Surcharge&colon;<&sol;strong>&nbsp&semi;15&percnt; of income tax&comma; where total income exceeds Rs&period;1 crore&period;<&sol;small><&sol;td>&NewLine;<&sol;tr>&NewLine;<tr>&NewLine;<td colspan&equals;"4"><small><strong>Cess&colon;<&sol;strong>&nbsp&semi;3&percnt; on total of income tax &plus; surcharge&period;<&sol;small><&sol;td>&NewLine;<&sol;tr>&NewLine;<tr>&NewLine;<td colspan&equals;"4">Credit&colon;&nbsp&semi;<a href&equals;"https&colon;&sol;&sol;incometaxindiaefiling&period;gov&period;in&sol;">https&colon;&sol;&sol;incometaxindiaefiling&period;gov&period;in&sol;<&sol;a><&sol;td>&NewLine;<&sol;tr>&NewLine;<&sol;tbody>&NewLine;<&sol;table>&NewLine;<&sol;div>&NewLine;&NewLine;&NewLine;&NewLine;<p>Above Income tax rates are applicable for Individuals and HUFs&period;<&sol;p>&NewLine;&NewLine;&NewLine;&NewLine;<p>Find out the <a href&equals;"https&colon;&sol;&sol;mypaisa&period;in&sol;income-tax-benefits-for-life-insurance-plans&sol;">Tax saving Insurance Plans<&sol;a><&sol;p>&NewLine;&NewLine;&NewLine;&NewLine;<p><span style&equals;"text-decoration&colon; underline&semi;"><em>Disclaimer&colon;<&sol;em><&sol;span><br &sol;><em>All efforts are made to keep the content as accurate as possible&period; We take no&nbsp&semi;responsibly&nbsp&semi;of any errors&period; You are advised to consult your Chartered accountant for any&nbsp&semi;query&nbsp&semi;on income tax&period;<&sol;em><&sol;p>&NewLine;

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This post was last modified on March 22, 2021

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