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Income Tax Slabs for Financial Year 2017-18 (Assesment Year 2018-19)

Man & Women Income Bracket Tax Rate
Up to 60 year
Up to 2,50,000Nil
2,50,001 to 5,00,0005%
5,00,001 to 10,00,00020%
10,00,001 and above30%
Up to 80 year
Senior Citizen
Up to 3,00,000Nil
3,00,001 to 5,00,0005%
5,00,001 to 10,00,00020%
10,00,001 & above30%
More than 80 year
Super Senior Citizen
Up to 5,00,000Nil
5,00,001 to 10,00,00020%
10,00,001 & above30%

Applies to all

  • Finance Act, 2017 provides a rebate of lower of actual tax liability or Rs. 2,500 (against earlier rebate of Rs. 5,000) in case of resident individuals having total income of less than Rs. 350,000.
  • Education cess is applicable @ 3% on income tax plus surcharge.
  • Surcharge at 15%, is applicable where income exceeds Rs. 1 crore. Finance Act, 2017 provides for surcharge at 10% to be levied where income exceeds Rs. 50 lakhs but does not exceed Rs. 1 crore. Marginal relief for such person is available.

Income Tax Slabs for Financial Year 2016-17 (Assesment Year 2017-18)

Man & Women Income Bracket Tax Rate
Up to 60 year
Up to 2,50,000Nil
2,50,001 to 5,00,00010%
5,00,001 to 10,00,00020%
10,00,001 and above30%
Up to 80 year
Senior Citizen
Up to 3,00,000Nil
3,00,001 to 5,00,00010%
5,00,001 to 10,00,00020%
10,00,001 & above30%
More than 80 year
Super Senior Citizen
Up to 5,00,000Nil
5,00,001 to 10,00,00020%
10,00,001 & above30%

Applies to all

  • A rebate of Rs.2,000 for individual having total Income up-to Rs. 5 lakhs
  • Education cess is applicable @ 3% on income tax plus surcharge
  • Surcharge @ 12% is applicable on income exceeding Rs 1 crore; Marginal relief for such person is available

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