Income Tax Slab 2017-18 – Expecting
Income Tax Slab 2017-18 – Central Board of Direct Taxes (CBDT) is a statutory authority functioning under the Central Board of Revenue. CBDT Expected New Income Tax Slabs for the financial year 2017-18. This year is more expectations on the Budget due to heavy inflow of cash to the banks due to demonetisation. The Income Tax Slabs are may likely going to increase or Changed.
Central Government is presenting the budget for the FY 2017-18 and AY 2018-19 on 1st February 2017.
Expected Income tax Slabs 2017-18
In the below table we are proving you the expected income tax slabs for 2017-18.
Income Tax Slab Rate 2017-18 – Below 60 Years(AY 2018-19)
| Income Tax Slab (Income) | Income Tax Rate |
| Upto Rs. 4 Lakhs | Zero (Nil) |
| Rs. 4,00,001 – Rs. 5,00,000 | 10% |
| Rs. 500,001 – Rs. 10,00,000 | 20% |
| Above Rs. 10,00,000 | 30% |
Surcharge: 15% of income tax, where total income exceeds Rs.1 crore.
Cess: 3% – 5% on total of income tax + surcharge.
For Senior Citizens – Income Tax Slab Rate 2017-18 (AY 2018-19)
| Income Tax Slab (Income) | Income Tax Rate |
| Upto Rs. 5 Lakhs | Zero (Nil) |
| Rs. 5,00,001 – Rs. 10,00,000 | 20% |
| Above Rs. 10,00,000 | 30% |
Surcharge: 15% of income tax, where total income exceeds Rs.1 crore.
Cess: 3% – 5% on total of income tax + surcharge.
Income tax slab rates in India – Income tax slab 2016-17
Here we are providing you the income tax slab rates of the present financial year and for assessment year of 2017-18.
Income Tax Slab Rate 2017-18 – Below 60 Years(AY 2018-19)
| Income Tax Slab (Income) | Income Tax Rate |
| Upto Rs. 2.5 Lakhs | Zero (Nil) |
| Rs 2,50,000 – Rs 5,00,000 | 10% |
| Rs. 500,001 – Rs. 10,00,000 | 20% |
| Above Rs. 10,00,000 | 30% |
Surcharge: 12% of income tax, where total income exceeds Rs.1 crore.
Cess: 3% on total of income tax + surcharge.
For Senior Citizens – Income Tax Slab Rate 2017-18 (AY 2018-19)
| Income Tax Slab (Income) | Income Tax Rate |
| Upto Rs. 3 Lakhs | Zero (Nil) |
| Rs. 3,00,001 – Rs. 5,00,000 | 10% |
| Rs. 500,001 – Rs. 10,00,000 | 20% |
| Above Rs. 10,00,000 | 30% |
Surcharge: 12% of income tax, where total income exceeds Rs.1 crore.
Cess: 3% on total of income tax + surcharge.
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Send me how the tax has been calculated and deducted and the list of slab 2016-17.
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