Tax Rate For FY 2017-18 and 2016-17

You can find the Tax slab for Financial Year 2017-18 (AY 2018-19) below

IT slab for salaried individuals & HUFs (under the age of 60 years)

Income Tax Slab	Tax Rate
Up to Rs. 2,50,000	No Tax
From Rs. 2,50,000 – Rs. 5,00,000	5%
From Rs. 5,00,000 – Rs. 10,00,000	20%
Above Rs. 10,00,000	30%
Surcharge: 10% of income tax will be applicable on the taxpayers with income between Rs. 50 lakhs to 1 Cr. 15% of income tax will be applicable on the taxpayers with income that exceeds Rs. 1 Cr.
A Cess of 3% on the total of income tax + surcharge will be also applicable to tax payment.

Tax slab for salaried individuals & HUFs (from the age of 60 years - 80 years)

Tax Slab	Rate
Up to Rs. 3,00,000*	No Tax
From Rs. 3,00,000 – Rs. 5,00,000	5%
From Rs. 5,00,000 – Rs. 10,00,000	20%
Above Rs. 10,00,000	30%
Surcharge: 10% of income tax will be applicable on the taxpayers with income between Rs. 50 lakhs to Rs. 1 Cr. 15% of IT will be applicable on the taxpayers, if their earning exceeds Rs. 1 Cr.
A Cess of 3% on the total of IT + surcharge will be also applicable to tax payment.
* In the case of individuals belonging to the group of the age of 60 years-80 years, income up to Rs. 3,00,000 is non-taxable.

Tax slab for salaried individuals & HUFs (Above 80 years of age)

Tax Slab	Tax Rate
Up to Rs. 5,00,000*	No Tax
From Rs. 5,00,000 – Rs. 10,00,000	20%
Above Rs. 10,00,000	30%
Surcharge: 10% of income tax will be applicable on the taxpayers with income between INR 50 lakhs to 1 Cr. 15% of income tax will be applicable on the taxpayers with income above INR 1 Cr.
A Cess of 3% on the total of income tax + surcharge will be also applicable to tax payment.
* In the case of individuals of the age group above 80 years, income up to INR 5,00,000 non-taxable.

IT rates for Individual Taxpayers Under the Age of 60 years

Tax Slab	Rate
Up to Rs. 2,50,000	No Tax
From Rs. 2,50,000 to Rs. 5,00,000	10%
From Rs. 5,00,000 to Rs. 10,00,000	20%
Above Rs. 10,00,000	30%
A surcharge of 12% of income tax will be applicable on the taxpayers with income above Rs. 1 Cr. This is subjected to marginal relief.
An Education Cess of 2% and Secondary and Higher Education Cess of 1% on the total of income tax + surcharge will be also applicable to tax payment.

For Resident Senior Citizens (from Age of 60- 80 years as on the last day of the Previous Year)

Tax Slab	Tax Rate
Up to Rs. 3,00,000	No Tax
From Rs. 3,00,000 to Rs. 5,00,000	10%
From Rs. 5,00,000 to Rs. 10,00,000	20%
Above Rs. 10,00,000	30%
A surcharge of 12% of income tax will be applicable on the taxpayers with income above Rs. 1 Cr. This is subjected to marginal relief.
An Education Cess of 2% and Secondary and Higher Education Cess of 1% on the total of income tax + surcharge will be also applicable to tax payment.

For Resident Super Senior Citizens (Above the age of 80 as on the last day of the Previous Year)

IT Slab	Rate
Up to Rs. 5,00,000	No Tax
From Rs. 5,00,000 – Rs. 10,00,000	20%
Above Rs. 10,00,000	30%
A surcharge of 12% of income tax will be applicable on the taxpayers with income above Rs. 1 Cr. This is subjected to marginal relief.
An Education Cess of 2% and Secondary and Higher Education Cess of 1% on the total of income tax + surcharge will be also applicable to tax payment.

For this assessment year, section 87A rebates were offered 100% of the income tax or Rs. 5,000 whichever is less. This rate has changed for the Assessment Year 2018-19.

Tax Slab for Hindu Undivided Families (HUFs)

Tax Slab	Tax Rate
Up to INR 2,50,000	No Tax
From INR 2,50,000 to INR 5,00,000	10%
From INR 5,00,000 to INR 10,00,000	20%
Above INR 10,00,000	30%
A surcharge of 12% of income tax will be applicable on the taxpayers with income above INR 1 Cr. This is subjected to marginal relief.
An Education Cess of 2% and Secondary and Higher Education Cess of 1% on the total of income tax + surcharge will be also applicable to tax payment.

For this assessment year, section 87A rebates were offered 100% of the income tax or Rs. 5,000 whichever is less. This rate has changed for the Assessment Year 2018-19.

IT Rates for legal Entities Registered as Associations of Persons

Slab	Rate
Up to INR 2,50,000	No Tax
From INR 2,50,000 to INR 5,00,000	10%
From INR 5,00,000 to INR 10,00,000	20%
Above INR 10,00,000	30%
A surcharge of 12% of income tax will be applicable on the taxpayers with income above INR 1 Cr. This is subjected to marginal relief.
An Education Cess of 2% and Secondary and Higher Education Cess of 1% on the total of income tax + surcharge will be also applicable to tax payment.

For this assessment year, section 87A rebates were offered 100% of the income tax or Rs. 5,000 whichever is less. This rate has changed for the Assessment Year 2018-19.

Tax Slab for Legal Entities Registered as Bodies of Individuals

Slab	Rate
Up to Rs. 2,50,000	No Tax
From Rs. 2,50,000 to Rs. 5,00,000	10%
From Rs. 5,00,000 to Rs. 10,00,000	20%
Above Rs. 10,00,000	30%
A surcharge of 12% of income tax will be applicable on the taxpayers with income above Rs. 1 Cr. This is subjected to marginal relief.
An Education Cess of 2% and Secondary and Higher Education Cess of 1% on the total of income tax + surcharge will be also applicable to tax payment.

For this assessment year, section 87A rebates were offered 100% of the income tax or Rs. 5,000 whichever is less. This rate has changed for the Assessment Year 2018-19.

Tax Rate for Other Artificial Judicial Persons

Tax Slab	Tax Rate
Up to INR 2,50,000	No Tax
From INR 2,50,000 to INR 5,00,000	10%
From INR 5,00,000 to INR 10,00,000	20%
Above INR 10,00,000	30%
A surcharge of 12% of income tax will be applicable on the taxpayers with income above INR 1 Cr. This is subjected to certain amount of tax saving.
An Education Cess of 2% and Secondary and Higher Education Cess of 1% on the total of income tax + surcharge will be also applicable to tax payment.

For this assessment year, section 87A rebates were offered 100% of the income tax or Rs. 5,000 whichever is less. This rate has changed for the Assessment Year 2018-19.

Tax Rate for Legal Entities Registered as Bodies of Individuals:

• Partnership Firms and Limited Liability Partnerships (LLPs) are taxed at a flat rate of 30% over total income per Financial Year.
• A surcharge of 12% of income tax will be applicable on the taxpayers with income above INR 1 Cr. This is subjected to marginal relief.
• An Education Cess of 2% and Secondary and Higher Education Cess of 1% on the total of income tax + surcharge will be also applicable to tax payment.

Income Tax Slab for Local Authorities:

• Local Authorities are taxed at a flat rate of 30% over total income per Financial Year.
• A surcharge of 12% of income tax will be applicable on the taxpayers, whose annual earning exceeds Rs. 1 Cr. This is subjected to marginal relief.
• An Education Cess of 2% and Secondary and Higher Education Cess of 1% on the total of income tax + surcharge will be also applicable to tax payment.

Income Tax Brackets for Domestic Companies:

• Domestic companies are ordinarily taxed at a flat rate of 30% over total income per Financial Year.
• A surcharge of 12% of income tax will be applicable on the taxpayers with income above INR 1 Cr. This is subjected to marginal relief.
• An Education Cess of 2% and Secondary and Higher Education Cess of 1% on the total of income tax + surcharge will be also applicable to tax payment.

Tax Rate for Foreign Companies

Nature of Earning	Tax Rate
If the Foreign company receives the earning in form of royalty paid by the Government of India in relation to agreements made with as Indian Concern (after March 31st, 1961, and before April 1st, 1976)	50%
If the Foreign company receives the income in the form of fees for technical services rendered for agreements made with Indian concerns (after February 29th, 1964, and before April 1st, 1976)	50%
Any other Earning	40%
Surcharge: 2% of IT will be applicable on the taxpayers with income less than Rs. 10 Cr. This is subjected to marginal relief. 5% of income tax will be applicable on the taxpayers with income above Rs. 10 Cr. This is subjected to marginal relief.
An Education Cess of 2% and Secondary and Higher Education Cess of 1% on the total of income tax + surcharge will be also applicable to tax payment.

For Co-operative Societies

Tax Slab	Tax Rate
Up to INR 10,000	10%
From INR 10,000 to INR 20,000	20%
Above INR 20,000	30%
A surcharge of 12% of income tax will be applicable on the taxpayers with earning above INR 1 Cr. This is subjected to certain amount of tax saving.
An Education Cess of 2% and Secondary and Higher Education Cess of 1% on the total of IT + surcharge will be also applicable to tax payment.