Income Tax Slab for F Y 2017-18

For Individuals/HUF less than 60 years of Age (For Male and Female Both)

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Taxable Income                                              Rate of Tax     

Income Up to 2.50 Lakh                                  Nil

Income form 2.50 Lakh to 5.00  Lakh             5% *

Income from 5.00 Lakh to 10.00 Lakh            20%

Income above 10.00 Lakh                              30%

 

Surcharge:

1. 10 % of income tax where total taxable income exceeds from 50 lakh and up to 1.00 crore

2. 15% where total income exceeds from 1.00 crore.

Cess:

Cess is applicable in all cases @3% (3% of Income tax + Surcharge)

*For earlier year i.e 2016-17 tax rate for this slab was 10%