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Title : Income Tax Slab Rates Applicable From April 01,2017 ie For the assessment year 2018-19
link : Income Tax Slab Rates Applicable From April 01,2017 ie For the assessment year 2018-19

Income Tax Slab Rates Applicable From April 01,2017 ie For the assessment year 2018-19

General Category (for person up to 60 years age) 

In the general category- person up to 60 years of age- tax will be applicable if income is more than Rs. 2.5 lakh. For income of Rs. 0-Rs. 2.5 lakh no tax will be applicable. A tax of only 5 per cent will be applicable if income is between Rs. 2.5-5 lakh. Further, the income tax rebate of up to Rs. 5,000 which was earlier given for taxable income up to Rs. 5 lakh, has been reduced to Rs. 2,500 and it will be available for taxable income of up to Rs. 3.5 lakh. It means if an individual has a taxable income of Rs. 3 lakh, his net tax liability will be zero (tax @5% on Rs. 1 lakh is Rs. 2,500 minus rebate of Rs. 2,500). 
 

Income	Tax
Up to Rs. 2.5 lakh	Nil
Rs. 2,50,001-Rs. 5 lakh	5%
Rs. 500,001-Rs. 10 lakh	20%
Above Rs. 10 lakh	30%

For income between Rs. 5-10 lakh, a tax of 20 per cent will be applicable and for income above Rs. 10 lakh a tax rate of 30 per cent will be applicable. However, people having taxable income of more than Rs. 50 lakh but less than Rs. 1 crore, a new surcharge of 10 per cent will be imposed along with the a tax of 30 per cent. For example, if an individual has a taxable income of Rs. 55 lakh, his tax liability will now increase from Rs. 15.19 lakh earlier to Rs. 16.57 lakh now (income tax of Rs. 14.62 lakh plus surcharge of Rs. 1.46 lakh and education & higher education cess of Rs. 48,263). If taxable income is more than Rs. 1 crore, then the surcharge will increase to 15 per cent of tax plus education and higher education cess of 3 per cent. However, on taxable incomes where surcharges are applicable, tax payers get the benefit of marginal relief, if applicable

Senior citizens (for person between 60-80 years age) 

For senior citizens falling in the tax bracket of Rs. 0 to Rs. 3 lakh, no tax will be applicable. For income between Rs. 3-5 lakh, a tax rate of 5 per cent will be applicable. The tax rate and surcharge will be same as general category for income between Rs. 5-10 lakh and above Rs. 10 lakh. 

Income	Tax
Up to Rs. 3 lakh	Nil
Rs. 3,00,001-Rs. 5 lakh	5%
Rs. 5,00,001-Rs. 10 lakh	20%
Above Rs. 10 lakh	30%

Super senior citizens (for person above 80 years age)

For people aged above 80 years no tax will be applicable for income up to Rs. 5 lakh. A tax rate of 20 per cent and 30 per cent will be applicable for income between Rs. 5 lakh and Rs. 10 lakh and Rs. 10 lakh and above respectively as in case of general category.
 

Income	Tax
Up to Rs. 5 lakh	Nil
Rs. 5,00,001-Rs. 10 lakh	20%
Above Rs. 10 lakh	30%

thus Article Income Tax Slab Rates Applicable From April 01,2017 ie For the assessment year 2018-19

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