Income Tax Rates Slab for FY 2017-18 (AY 2018-19)

Income Tax Rates Slab for FY 2017-18 (AY 2018-19) - The Finance Bill, 2017

RATES FOR CHARGING INCOME-TAX IN CERTAIN CASES, DEDUCTING INCOME-TAX FROM INCOME CHARGEABLE UNDER THE HEAD “SALARIES” AND COMPUTING “ADVANCE TAX”

ITR-SLABS-FOR-FY-2017-18
     

In cases in which income-tax has to be charged under sub-section (4) of section 172 of the Income-tax Act or sub-section (2) of section 174 or section 174A or section 175 or sub-section (2) of section 176 of the said Act or deducted from, or paid on, from income chargeable under the head “Salaries” under section 192 of the said Act or in which the “advance tax” payable under Chapter XVII-C of the said Act has to be computed at the rate or rates in force, such income-tax or, as the case may be, “advance tax” [not being “advance tax” in respect of any income chargeable to tax under Chapter XII or Chapter XII-A or income chargeable to tax under section 115JB or section 115JC or Chapter XII-FA or Chapter XII-FB or sub-section (1A) of section 161 or section 164 or section 164A or section 167B of the Income-tax Act at the rates as specified in that Chapter or section or surcharge, wherever applicable, on such “advance tax” in respect of any income chargeable to tax under section 115A or section 115AB or section 115AC or section 115ACA or section 115AD or section 115B or section 115BA or section 115BB or section 115BBA or section 115BBC or section 115BBD or section 115BBDA or section 115BBE or section 115BBF or section 115BBG or section 115E or section 115JB or section 115JC] shall be charged, deducted or computed at the following rate or rates:—

(I) In the case of every individual other than the individual referred to in items (II) and (III) of this Paragraph or Hindu undivided family or association of persons or body of individuals, whether incorporated or not, or every artificial juridical person referred to in sub-clause (vii) of clause (31) of section 2 of the Income-tax Act, not being a case to which any other Paragraph of this Part applies,—

Part I: Income tax slab for individual tax payers & HUF (less than 60 years old) (both men & women)
Rates of income-tax
(1) where the total income does not exceed Rs. 2,50,000 No Tax
(2)
where the total income exceeds Rs. 2,50,000 but does not exceed Rs. 5,00,000
5 %
(3)
 where the total income exceeds Rs. 5,00,000 but does not exceed Rs. 10,00,000
20 %
(4) where the total income exceeds Rs. 10,00,000 30 %
Surcharge:
** 10% of income tax, where total income is between Rs. 50 lakhs and Rs.1 crore.
** 15% of income tax, where total income exceeds Rs. 1 crore.
Cess: 3% on total of income tax + surcharge.
* *Income upto Rs. 2,50,000 is exempt from tax if you are less than 60 years old.


(II) In the case of every individual, being a resident in India, who is of the age of sixty years or more but less than eighty years at any time during the previous year, -


Part II: Income tax slab for individual tax payers & HUF (60 years old or more but less than 80 years old) (both men & women)
Rates of income-tax
(1) where the total income does not exceed Rs. 3,00,000 No Tax
(2)
where the total income exceeds Rs. 3,00,000 but does not exceed Rs. 5,00,000
5 %
(3)
 where the total income exceeds Rs. 5,00,000 but does not exceed Rs. 10,00,000
20 %
(4) where the total income exceeds Rs. 10,00,000 30 %
Surcharge:
** 10% of income tax, where total income is between Rs. 50 lakhs and Rs.1 crore.
** 15% of income tax, where total income exceeds Rs. 1 crore.
Cess: 3% on total of income tax + surcharge.
* *Income upto Rs. 3,00,000 is exempt from tax if you are more than 60 years but less than 80 years of age.

(III) In the case of every individual, being a resident in India, who is of the age of eighty years or more at any time during the previous year, -


Part III: Income tax slab for super senior citizens (80 years old or more) (both men & women)
Rates of income-tax
(1) where the total income up to Rs. Rs. 2,50,000 No Tax
(2) where the total income up to Rs. 5,00,000 No Tax
(3)  where the total income exceeds Rs. 5,00,000 but does not exceed Rs. 10,00,000 20 %
(4) where the total income exceeds Rs. 10,00,000 30 %
Surcharge:
** 10% of income tax, where total income is between Rs. 50 lakhs and Rs.1 crore.
** 15% of income tax, where total income exceeds Rs. 1 crore.
Cess: 3% on total of income tax + surcharge.
* *Income upto Rs. 3,00,000 is exempt from tax if you are more than 60 years but less than 80 years of age.

In the case of every co-operative society,—
Rates of income-tax
(1) where the total income does not exceed Rs. 10,000 10 per cent. of the total income;
(2) where the total income exceeds Rs. 10,000 but does not
exceed Rs. 20,000
Rs. 1,000 plus 20 per cent. of the amount by which the total income exceeds Rs. 10,000
(3) where the total income exceeds Rs. 20,000 Rs. 3,000 plus 30 per cent. of the amount by which the total income exceeds Rs. 20,000
Surcharge on income-tax
The amount of income-tax computed in accordance with the preceding provisions of this Paragraph, or the provisions of section 111A or section 112 of the Income-tax Act, shall, in the case of every co-operative society, having a total income exceeding one crore rupees, be increased by a surcharge for the purposes of the Union calculated at the rate of twelve per cent. of such incometax
Provided that in the case of every co-operative society mentioned above having total income exceeding one crore rupees, the total amount payable as income-tax and surcharge on such income shall not exceed the total amount payable as income-tax on a total income of one crore rupees by more than the amount of income that exceeds one crore rupees.

In the case of every firm,—
Rates of income-tax
On the whole of the total income 30 per cent. of the total income;
Surcharge on income-tax
The amount of income-tax computed in accordance with the preceding provisions of this Paragraph, or the provisions of section 111A or section 112 of the Income-tax Act, shall, in the case of every firm, having a total income exceeding one crore rupees, be increased by a surcharge for the purposes of the Union calculated at the rate of twelve per cent. of such income-tax.
Provided that in the case of every firm mentioned above having total income exceeding one crore rupees, the total amount payable as income-tax and surcharge on such income shall not exceed the total amount payable as income-tax on a total income of one crore rupees by more than the amount of income that exceeds one crore rupees.

In the case of every local authority,—
Rates of income-tax
On the whole of the total income 30 per cent. of the total income;
Surcharge on income-tax
The amount of income-tax computed in accordance with the preceding provisions of this Paragraph, or the provisions of section 111A or section 112 of the Income-tax Act, shall, in the case of every local authority, having a total income exceeding one crore rupees, be increased by a surcharge for the purposes of the Union calculated at the rate of twelve per cent.of such income-tax.
Provided that in the case of every local authority mentioned above having total income exceeding one crore rupees, the total amount payable as income-tax and surcharge on such income shall not exceed the total amount payable as income-tax on a total income of one crore rupees by more than the amount of income that exceeds one crore rupees.

In the case of a domestic company
Rates of income-tax
(i) where its total turnover or the gross receipt in the previous year 2015-16 does not exceed fifty crore rupees;
 25 per cent. of the total income;
(ii) other than that referred to in item (i) 30 per cent. of the total income;
Surcharge on income-tax
(a) having a total income exceeding one crore rupees but not exceeding ten crore rupees, at the rate of seven per cent. of such income-tax; and
(b) having a total income exceeding ten crore rupees, at the rate of twelve per cent. of such income-tax;

In the case of a company other than a domestic company -
Rates of income-tax
 (i) on so much of the total income as consists of,—
(a) royalties received from Government or an Indian concern in pursuance of an agreement made by it with the Government or the Indian concern after the 31st day of March, 1961 but before the 1st day of April, 1976; or
(b) fees for rendering technical services received from Government or an Indian concern in pursuance of an agreement made by it with the Government or the Indian concern after the 29th day of February, 1964 but before the 1st day of April, 1976, and where such agreement has, in either case, been approved by the Central Government
50 per cent. of the total income;
(ii) on the balance, if any, of the total income 40 per cent. of the total income
Surcharge on income-tax
The amount of income-tax computed in accordance with the preceding provisions of this Paragraph, or the provisions of section 111A or section 112 of the Income-tax Act, shall, be increased by a surcharge for the purposes of the Union, calculated,-
(a) having a total income exceeding one crore rupees but not exceeding ten crore rupees, at the rate of two per cent. of such income-tax; and
(b) having a total income exceeding ten crore rupees, at the rate of five per cent. of such income-tax:
Provided that in the case of every company having a total income exceeding one crore rupees but not exceeding ten crore rupees, the total amount payable as income-tax and surcharge on such income shall not exceed the total amount payable as income-tax on a total income of one crore rupees by more than the amount of income that exceeds one crore rupees:
Provided further that in the case of every company having a total income exceeding ten crore rupees, the total amount payable as income-tax and surcharge on such income shall not exceed the total amount payable as income-tax and surcharge on a total income of ten crore rupees by more than the amount of income that exceeds ten crore rupees.

COMMENTS

Defence$type=complex$count=4$ico=1

7th CPC$type=list$m=0$cate=0$sn=0$rm=0$c=5

Name

'Aaykar Setu' mobile app,1,5th cpc,6,6th cpc,8,7th CPC,408,7th CPC Arrears,4,7th CPC Arrers,8,7th CPC Hindi News,13,7th CPC News,73,7th Pay Commission,219,Aadhaar,23,acpin,1,ad-hoc bonus,4,ad-hoc staff,1,additional hra,1,admit card,1,advance salary,1,AGEY,1,aicpin,10,aigdsu news,6,AIIMS,2,ailtc railways,7,aipr,3,Air Force,13,Air India,5,air india ltc 80 fare,4,Air Travel,7,Aircel,1,airf,18,Airlines,1,Airtel,4,alcohol policy,1,all india,5,Allowances,125,Amazon Ofers,1,Andhra Pradesh,1,Andhra Pradesh govt employee,1,anomaly committee,1,aoc,1,apar,1,app download,1,Apple iPhone,3,Assam,4,Assistant Jobs,1,Bank,33,bank da,3,bank holidays,1,Bank Policies,19,banknotes,1,Bihar,9,Bihar 7th CPC,3,bihar govt employee,1,Bollywood,4,bonous,1,bonus,6,breakdown allowance,2,Breaking News,139,BRICS,1,Bsnl,12,BSNLMRS Hospitals,1,budget,4,Business,84,ca exam pattern,1,Cabinet News,41,cadre restructuring,3,cadre review,13,CAG Report,3,CAPO News,4,Career,56,career progression,1,casual labour,3,casual leave,3,cat Judgement,4,cat order,3,CBDT,12,CBEC,4,CBSE,7,ccs master circular,1,ccs pension rules,2,ccs rules,4,ccsrp rule,1,cda rules,2,cgda,26,cgegis table,6,CGHS,89,cghs agartala,1,cghs ahmedabad,1,cghs allahabad,1,cghs bengaluru,2,cghs bhopal,1,cghs bhubaneswar,1,cghs chandigarh,1,Cghs Chennai,1,cghs dehradun,1,cghs delhi,3,cghs guwahati,1,cghs hyderabad,1,cghs indore,1,cghs jabalpur,1,cghs jaipur,1,cghs kanpur,2,cghs karnataka,1,cghs kerala,1,cghs kolkata,1,cghs lucknow,1,cghs meerut,2,cghs mumbai,1,cghs nagpur,1,cghs patna,2,cghs pune,1,cghs ranchi,2,cghs shillong,1,cghs trivandrum,2,cghs uttrakhand,1,chandigarh,1,chhattisgarh,1,child care leave,2,children education allowance,7,China,1,cisf,1,come & play scheme,1,compassionate ground appointment,5,Compensation Policy,3,composite allowance,1,condiment allowance,3,Condiment expenditure,2,confedration,1,consatant attendance allowance,1,contract labour,7,Conveyance Allowance,3,cpao order,21,cpf,1,cpgrams,3,cpiiw,4,cpse,70,cpse employees,8,cpse guidelines,29,cpse pay revision,2,cpse pension,5,CPSEs Pay,20,Cricket,4,cris,3,CRPF,1,CS(MA) Rules,5,csd,2,csd price list,1,Current Affairs,308,cvc circular,2,d el ed,1,daily officiating allowance,3,dearness allowances,49,dearness relief,18,Defence,240,Delhi,2,delhi govt employee,2,delhi high court,1,dental doctor,1,dept of post order,43,deputation,3,deputation allowance,4,desw,2,desw order,5,disability pension,5,dlc,2,Doctor Jobs,12,doe order,24,doppw order,8,DoPT Order,127,dot order,10,Download MedWatch App,1,Download MyMSME App,1,Download MyMSME App Celebrating Yoga,1,Download NEW ITR FORM,2,Download Swachh Bharat App,1,dpe om,34,dress allowance,5,dress code,1,EC,1,echs,24,ecil,1,EDUACTION,75,Education,7,educational qualification,1,Egineer Jobs,1,Election Commission,1,Employment,6,Entertainment,2,EPFO,25,ESIC,4,eview committee for nps,1,EVM,1,Ex-Servicemen,6,exam,2,exempt from tax,1,expected da,11,extra work allowance,1,Extraordinary Pension,1,Facebook,8,fact jobs,1,Family Pension,95,FAQ,2,Featured,79,festivals,1,FIFA,1,File ITR,23,Fin Min Orders,66,Finance,8,Fixed Medical Allowance,7,Flipkart,2,Football,3,FREQUENTLY ASKED QUESTIONS ON GST,1,Games,12,Ganes,2,gazette notification,13,gdce instructions,3,gds,1,gds arrears,9,gds da,11,gds employees news,19,gds pay,15,gds report,18,gfr,1,GOI News,570,Goods and Services Tax,50,Goods and Services Tex,1,Google,10,government of karnataka,1,Govt Jobs,11,govt of assam,2,govt of assam pensioner,1,govt of assam staff,1,govt of chhattisgarh,1,Govt Project,324,Govt Staff News,1133,Govt Yojna,258,gpf interest rate,1,GPF Rules,12,GPRA,4,gratuity,6,group A,1,Group D,1,Gst,61,GST Rates Finder app,1,Hardship Allowance,1,Haryana Govt Employees,2,Haryana Govt order,2,hba rules,9,Health,25,High Court Judgement,3,high court order,2,hill area allowance,1,holiday list,11,Hollywood,2,honorarium,1,hpca,1,hr allowances,1,hra,2,HRA Allowances,39,iba,6,iba dr,1,ibps,2,icsil,1,ida cpse,15,income tax,23,independence day,1,India,3,India Post,15,Indian Airforce,51,Indian Army,70,Indian Navy,65,indian railway,10,IOCL Jobs,1,IRCTC,8,irms,1,irtsa,2,Island Special Duty Allowance,1,ISRO,1,iti ltd,1,ITR,32,j&k govt employees,3,j&k govt pensioners,1,Japan,1,Jharkhand,3,Jio News,8,jkssb,1,jnv,7,Jobs,54,Jobs News,103,karnataka,1,kerala,4,Kerala Govt Employees,4,Kerala Govt Pensioners,2,Kolkata,1,KVS,40,kvs pension,2,labour Bureau,7,larsgess scheme,3,Latest,991,ldce,3,leave rules,1,lic pay,2,life certificate,1,life time arrear,1,Lok Sabha,146,LTC,38,ltc 80 air fare,6,Ltd Company Jobs,2,mAadhaar App,2,macp,32,Make in India,2,Market,1,Maruti Suzuki Dzire,1,maternity leave,6,medical card,1,Medical claims,4,Meghalaya Govt Employees,1,MERIT app,1,mes,1,MGNREGA,2,mha,1,mhfw order,14,mhrd order,2,Microsoft,1,Microsoft News,1,minimum wages,7,mod order,17,mohfw order,5,monetary allowance,3,MP,1,msp,2,mtnl,2,NABARD,1,Namami Gange,5,National,705,ncjcm,21,nda,2,ndmc,1,New Delhi,3,new TRCA matrix,5,nfir,62,NGT,1,night duty allowance,2,northern railway,1,Notification,1,npci,1,nps,35,nps updates,1,nursing allowance,2,nursing perssonsel,2,NVS,10,odisha,3,odisha govt employees,1,odisha govt pensioner,1,operation theater allowance,1,ordnance factory,1,orop,17,overtime allowance,6,PAN,6,pass rules,4,Passports,1,patna high court judgement,1,pay fixation,21,pay slip,1,pcda circular,42,pco allowance,2,pda lists,1,pdca circular,8,Pension,213,Pension Adalat,2,Pension Adalat Application Form,3,Pension faq,21,Pension revision,8,Pensioner,168,Pensioner associations,3,Pensioner Portal,12,pfrda,3,pgportal,3,pl bonous,12,PM Modi,26,PMAY,5,PMUY,1,PMVVY,1,Policies,390,Politics,36,post graduate allowance,1,post office,3,prcp in railway,4,President,2,Project Allowance,2,Promotions,22,Promotions policy,26,provisional pension,2,puducherry,1,Railway,372,railway servants pass rules,1,rajasthan govt employees,2,rajasthan govt pensioners,1,rajbhasha,1,Rajya Sabha,38,Rashtriya Swasthya Bima Yojana,1,ration money allowance,2,RBI,11,Real Madrid,1,Recruitment,6,recruitment rules,9,relhs,1,remote area allowance,1,remuneration,1,RERA Act,1,reservation criteria,11,rest rules,1,Result,5,retirement age,2,retirement benefits,1,review committee for nps,6,revised pay,25,revised pay matrix table,5,revised pension,3,revised vda,8,rilways,1,risk and hardship allowance,8,RS (RP) Rules,2,running staff,2,RUSA,1,s,1,SAARTHI App,1,SBI,11,SBI Rules,6,scholarship,1,Science,17,scova meeting,1,SEVA App,1,Seventh Central Pay Commission,149,SKILL INDIA Mission,1,small saving scheme,2,special allowance,3,Special LC Gate allowance,1,Sports,16,ssc jos,1,status of PPOs,3,storekeeping staff,1,strike,3,study allowance,1,study leave,1,Sukanya Samriddhi Account,2,Supreme Court,22,Supreme Court Judgement,17,Survey,1,syllabus,1,syndicate bank,1,Tarang Sanchar,1,Tax,22,tds deduction,3,teacher jobs,2,Tech,34,Telangana,1,telangana govt employees,1,Telcome,2,Telcome News,8,timely disposal of applications,1,TN Govt Employees,4,TN Govt Pensioners,3,tnusrb recruitment,1,Trade,1,trade unions,1,TRAI,1,training allowance,2,Transfer policy,25,transport allowance,4,Travelling Allowance,22,Trending Now,131,tripura govt employees,1,tripura govt pensioner,1,Trump,1,uan,1,Uber,1,ugc,1,uidai,1,UJALA Scheme,1,UP CM Yogi Adityanath,2,UP Govt Employees,1,upgradation of pay,2,uppsc,1,UPSC Jobs,2,USA,2,Uttar Pradesh,3,vrs,2,Weather,2,West Bengal,1,Whatsapp,2,Windows 10 OS,1,World,62,World Press Freedom Day,1,You Tube,2,
ltr
item
Param News: Central Government Employee News|Latest DOPT OM: Income Tax Rates Slab for FY 2017-18 (AY 2018-19)
Income Tax Rates Slab for FY 2017-18 (AY 2018-19)
Income Tax Slabs for FY 2017-18 (AY 2018-19) - The Finance Bill, 2017 RATES FOR CHARGING INCOME-TAX IN CERTAIN CASES, DEDUCTING INCOME-TAX FROM INCOME CHARGEABLE UNDER THE HEAD “SALARIES” AND COMPUTING “ADVANCE TAX”
https://1.bp.blogspot.com/-oTG3M8uV1Yw/WOplUohDuoI/AAAAAAAAAV0/2ycSSfShYO4fj3z-6TJsxDrL6xwI5DD2ACLcB/s320/ITR-SLABS-FOR-FY-2017-18.png
https://1.bp.blogspot.com/-oTG3M8uV1Yw/WOplUohDuoI/AAAAAAAAAV0/2ycSSfShYO4fj3z-6TJsxDrL6xwI5DD2ACLcB/s72-c/ITR-SLABS-FOR-FY-2017-18.png
Param News: Central Government Employee News|Latest DOPT OM
http://www.paramnews.com/2017/04/income-tax-rates-slab-for-fy-2017-18-ay.html
http://www.paramnews.com/
http://www.paramnews.com/
http://www.paramnews.com/2017/04/income-tax-rates-slab-for-fy-2017-18-ay.html
true
2671314941044517342
UTF-8
Loaded All Posts Not found any posts VIEW ALL Readmore Reply Cancel reply Delete By Home PAGES POSTS View All RECOMMENDED FOR YOU LABEL ARCHIVE SEARCH ALL POSTS Not found any post match with your request Back Home Sunday Monday Tuesday Wednesday Thursday Friday Saturday Sun Mon Tue Wed Thu Fri Sat January February March April May June July August September October November December Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec just now 1 minute ago $$1$$ minutes ago 1 hour ago $$1$$ hours ago Yesterday $$1$$ days ago $$1$$ weeks ago more than 5 weeks ago Followers Follow THIS PREMIUM CONTENT IS LOCKED STEP 1: Share. STEP 2: Click the link you shared to unlock Copy All Code Select All Code All codes were copied to your clipboard Can not copy the codes / texts, please press [CTRL]+[C] (or CMD+C with Mac) to copy