Income tax

Upto 250000 - nil

250,000 to 500,000 - 5℅ (amended by finance bill 2017)

5 lac to 10 lac - 10℅

Above 10 lac - 20℅

 

Rebate u/s 87A of 2500 on tax has been limited to persons whose taxable income is upto 3.5 lac only (earlier it was upto 5lac)

 

Surcharge for income holders more than 50 lac and below 1 crore at 10℅, while surcharge for income holders above 1 crore is 15℅

 

For senior citizens above slab is exempt upto 3 lac..rest everything remains same.

 

Rates for F.Y. 2017-18 i.e. A.Y. 2018-19
Income upto Rs. 2,50,000- Nil
Income between Rs. 2,50,001 to Rs. 500,000 -5% of Income exceeding Rs. 2,50,000(rebate u/s 87A - Rs.2500)
Income between Rs. 500,001 to Rs. 10,00,000- 20% of Income exceeding Rs. 5,00,000
Income above Rs. 10,00,000 - 30% of Income exceeding Rs. 10,00,000.

Originally posted by : Saurabh Sachdeva
	Upto 250000 - nil250,000 to 500,000 - 5℅ (amended by finance bill 2017)5 lac to 10 lac - 10℅Above 10 lac - 20℅ Rebate u/s 87A of 2500 on tax has been limited to persons whose taxable income is upto 3.5 lac only (earlier it was upto 5lac) Surcharge for income holders more than 50 lac and below 1 crore at 10℅, while surcharge for income holders above 1 crore is 15℅ For senior citizens above slab is exempt upto 3 lac..rest everything remains same.

 

any changes in tds & tcs?? it means other categories of income?? 

At present 5000 or 2500 as rebate under section 87A

At present 5000. From F.Y.2017-18 Rs.2500