Skip to main content

Income Tax Slab 2017-18

Income Tax Slab 2017-18, Income Tax Slab For Ay 2018-19


Income Tax is a type of tax that is levied by the government on an individual’s earning/salary. The government uses the collected tax money to improve infrastructure, defense and various other purposes including the development of the country. The income tax is counted as a stable source of income for the government to facilitate a diverse range of services to the people of the nation. The income tax is also used for paying government employees their salary.

Calculation of Income Tax

The income tax is calculated differently for individuals based on various factors such as the type of income, amount of income, age, etc. In order to calculate the income tax from salary, an individual will require declaring the total amount of earning and the total amount of deductions. The government allows the individual to draw exemption on particular types of investment. The following income tax slab will help you in calculating your taxable income for all types of income slabs. Read here for How to file Income Tax Return Online in India. Linking PAN with Aadhar is now so easy. See here for more info: How to Link PAN Card with Aadhar Card. If you don't know your PAN number, get details for How to know PAN Number

Income Tax Slabs for Financial Year 2017 - 2018


Income Tax Slab Rate: Income tax slab rates are for different categories of taxpayers, who are taxed progressively higher based on their earning. The income tax slab rate can be broadly classified into the following categories:

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

Income tax slab for individual tax payers & HUF (less than 60 years old) (both men & women)
Income Slab Tax Rate
Income up to Rs. 2,50,000*                    No Tax
Income from Rs. 2,50,000 – Rs. 5,00,000 5%
Income from Rs. 5,00,000 – 10,00,000 20%
Income more than 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.

Income tax slab for individual tax payers & HUF (60 years old or more but less than 80 years old) (both men & women)

Income Slab Tax Rate
Income up to Rs. 3,00,000* No Tax
Income from Rs. 3,00,000 – Rs. 5,00,000 5%
Income from Rs. 5,00,000 – 10,00,000 20%
Income more than 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 up to Rs. 3,00,000 is exempt from tax if you are more than 60 years but less than 80 years of age.

Income tax slab for super senior citizens (80 years old or more) (both men & women)

Income Slab Tax Rate
Income up to Rs. 2,50,000* No Tax
Income up to Rs. 5,00,000* No Tax
Income from Rs. 5,00,000 – 10,00,000 20%
Income more than 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 up to Rs. 5,00,000 is exempt from tax if you are more than 80 years old.

If you are new to e-filling, you can read here for How to file Income Tax Return Online in India

Popular posts from this blog

Adani Electricity Bill Payment

Adani Electricity Bill Payment Adani Electricity Mumbai Limited (AEML) is a 100% subsidiary of Adani Transmission Ltd that has been formed post acquisition of Reliance Infrastructure Limited's integrated Generation, Transmission and Distribution utilities that powers Mumbai city. As an organization under Adani Group, AEML believes in The Power of Service. The system caters to over 2.9 million customers. The area in Suburban Mumbai served by AEML is from Bandra to Bhayander on the western side, and Sion to Mankhurd on the eastern Side. How to pay Adani electricity bill payment easily? A user needs to enter their AEML account number, as mentioned on the bill You can View your current Adani electricity bill online and click "PAY" You need to have your credit/debit/EbixCash/net banking details handy Choose your desired payment method and follow the instructions to pay Adani electricity bill online After authentication over the payment gateway, your credit/de

Mohali Water Bill Payment Online, Pay Water Bill Online Mohali

Mohali Water Bill Payment Online, Pay Water Bill Online Mohali Today, the Water Supply and Sanitation Department Minister Tript Rajinder Singh Bajwa launched the service of e-payment of water bills in Mohali. He also launched a one-time settlement scheme by which one can pay the arrears of water bills by paying actual user charges, subject to maximum of Rs 2000. All penalty and late payment charges are waived off in this scheme. Mohali water bill payment online can be done by Consumers on the department’s website made with the hepl of Axis Bank, pbdwss.gov.in, via net banking, debit card, credit card, NEFT and RTGS. Bajwa also initiated another scheme by which illegal water connections can be regularised by paying Rs 1,000 as a one-time fee. Information relating to the water bills like the amount and the last date of payment would be sent through SMS to all consumers. After this scheme of payment of water bill in Mohali is successful, it will soon be introduced in other areas l

IGL Bill Payment Online, IGL Bill Pay Online

How to Pay IGL Bill Online, How to Pay Indraprastha Gas Bill Online Steps for IGL Payment Online for Customers not registered with IGL Visit the IGL Online Official Website - http://www.iglonline.net/english/Default.aspx On the right of the screen, Under Customer Zone->PNG User->Click on Insta Payment A new window opens where you can Pay IGL Bill Online/Security Deposit Enter your BP Number and click Get Details Your First Name, Last Name, CA Number, Amount Before Due Date, Due Date, Amount After Due Date and Amount to be paid is displayed Click on Pay button Indraprastha Gas Ltd Payment Amount would be displayed. Pay IGL Bill Online by Credit Card, Debit Card, Debit Card + ATM PIN, Internet Banking, Wallet/ Cash Cards, MasterPass, BharatQR. That's it. You have just completed the steps for IGL Bill Payment Online . Register as IGL Customer Visit the IGL Online Official Website -  http://www.iglonline.net/english/Default.aspx On the right of the screen, U