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INCOME TAX SLAB FOR AY 2019 – 20/ FY 2018 – 19.

Individuals less than 60 years :

Taxable income Tax Rate
Up to Rs. 2,50,000 Nil
Rs. 2,50,000 to Rs. 5,00,000 5%
Rs. 5,00,000 to Rs. 10,00,000 20%
Above Rs. 10,00,000 30%
*** If total income does not exceed Rs 3,50,000 (87A),then up to Rs 2,500 can be exempted.

Income Tax Rate AY 2019-20 / FY 2018-19 :
Individuals (between 60 years and 80 years)

Taxable income Tax Rate
Up to Rs. 3,00,000 Nil
Rs. 3,00,000 to Rs. 5,00,000 5%
Rs. 5,00,000 to Rs. 10,00,000 20%
Above Rs. 10,00,000 30%

Income Tax Rate AY 2019-20 / FY 2018-19 Individuals (above 80 years)

Taxable income Tax Rate
Up to Rs. 5,00,000 Nil
Rs. 5,00,000 – Rs. 10,00,000 20%
Above Rs. 10,00,000 30%

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Also there is Surcharge and Cess.For Individual.

  • Surcharge: 10% of income tax, if total income exceeds Rs.50 lakh up to Rs.1 crore.

  • Surcharge: 15% of income tax, if the total income exceeds Rs.1 crore.

  • Education& health Cess (newly introduced): 4% of Income Tax.


Income Tax Rate AY 2019-20 / FY 2018-19 For Company.

Taxable Turnover Tax Rate
Turnover upto 250 Cr. in the previous year 25%
Turnover exceeding 250 Cr. in the previous year 29%

  • Ed.Cess : 4% of corporate tax.

  • If Taxable income is more than 1Cr. but less than 10Cr, then surcharge is 7%

  • If Taxable income is more than 10Cr, then surcharge is 12%


*** The income tax return of salaried individual or other non-audited business house is due date 31st July. For audited business house & company return date is 30th September. But subject to certain conditions, the date may be extend.

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