Tax Slabs

A tax that governments impose on financial income generated by all entities within their jurisdiction. By law, businesses and individuals must file an income tax return every year to determine whether they owe any taxes or are eligible for a tax refund.

The Income Tax Department is the biggest revenue mobilizer for the Government. Income tax is a key source of funds that the government uses to fund its activities and serve the public.

India Income tax slabs FY 2018-2019 for Individual Tax Payers & HUF
(Aged less than 60 years)

Income tax slab (in Rs.)

Tax

0 to 2,50,000 No tax
2,50,000 to 5,00,000 5%
5,00,000 to 10,00,000 20%
Above 10,00,000 30%

India Income tax slabs FY 2018-2019 for Individual Tax Payers & HUF
(Aged 60 years but less than 80 years)

Income tax slab (in Rs.)

Tax

Up to Rs. 3,00,000* No tax
3,00,000 to 5,00,000 5%
5,00,000 to 10,00,000 20%
Above 10,00,000 30%

India Income tax slabs FY 2018-2019 for Super Senior Citizens
(Aged 80 and above)

Income tax slab (in Rs.)

Tax

Up to 5,00,000* No Tax
5,00,000 to 10,00,000 20%
Above 10,00,000 30%