Presentation FOR SLABS
In India, salary assess is exacted on individual citizens based on a chunk framework where distinctive expense rates have been endorsed for various pieces and such duty rates continue expanding with an expansion in the pay section.
Such assessment chunks will in general experience a change amid each financial plan.
Further, since the financial plan 2018 has not reported any adjustments in pay charge chunks this time, it continues as before as that of a year ago.
There are three classifications of individual citizens:
1.Individuals (underneath the age of 60 years) which incorporates inhabitants and non-occupants
2.Resident Senior nationals (60 years or more yet beneath 80 years old)
3.Resident Super senior nationals (over 80 years old)
Salary Tax Slabs for Individual Tax Payers and HUF (Less Than 60 Years Old) for FY 2018-19 – Part I
Salary TAX SLABS TAX RATE HEALTH AND EDUCATION CESS
Salary up to Rs 2,50,000* No assessment
Salary from Rs 2,50,000 – Rs 5,00,000 5% 4% of Income Tax
Pay from Rs 5,00,000 – 10,00,000 20% 4% of Income Tax
Pay more than Rs 10,00,000 30% 4% of Income Tax
Contribute Now and Save Upto ₹ 46,800 on Taxes
Additional charge: 10% of pay impose, where add up to pay surpasses Rs.50 lakh up to Rs.1 crore.
Additional charge: 15% of pay impose, where the aggregate pay surpasses Rs.1 crore.
*Income charge exclusion limit for FY 2018-19 is dependent upon Rs. 2,50,000 for individual and HUF other than those shrouded in Part(II) or (III)
Pay Tax Slabs for Senior Citizens (60 Years Old Or More however Less than 80 Years Old) for FY 2018-19 – Part II
Pay Tax Slabs Tax Rate Health and Education Cess
Pay up to Rs 3,00,000* No expense
Pay from Rs 3,00,000 – Rs 5,00,000 5% 4% of Income Tax
Pay from Rs 5,00,000 – 10,00,000 20% 4% of Income Tax
Pay more than Rs 10,00,000 30% 4% of Income Tax
Additional charge: 10% of salary impose, where add up to pay surpasses Rs.50 lakh up to Rs.1 crore.
Additional charge: 15% of pay assess, where the aggregate pay surpasses Rs.1 crore.
*Income charge exception limit for FY 2018-19 is dependent upon Rs. 3,00,000 other than those canvassed in Part(I) or (III)
Salary Tax Slabs for Senior Citizens(80 Years Old Or More) for FY 2018-19 – Part III
Salary Tax Slabs Tax Rate Health and Education Cess
Salary up to Rs 5,00,000* No assessment
Salary from Rs 5,00,000 – 10,00,000 20% 4% of Income Tax
Salary more than Rs 10,00,000 30% 4% of Income Tax
Extra charge: 10% of pay assess, where add up to pay surpasses Rs.50 lakh up to Rs.1 crore.
Additional charge: 15% of salary assess, where the aggregate pay surpasses Rs.1 crore.
*Income impose exception limit for FY 2018-19 is dependent upon Rs. 5,00,000 other than those shrouded in Part(I) or (II)
Salary Tax Slabs for Domestic Companies for FY 2018-19 – Part IV
Turnover Particulars Tax Rate
Net turnover upto 250 Cr. in the past year 25%
Net turnover surpassing 250 Cr. in the past year 29%
What's more cess and extra charge is collected as pursues: Cess: 4% of corporate duty Surcharge: Taxable pay is more than 1Cr. be that as it may, under 10Cr.: 7% Taxable salary is more than 10Cr. :12%
Salary Tax Slabs Rates for FY 2017-18(AY 2018-19)
Salary Tax Slabs for Individual Tax Payers and HUF (Less Than 60 Years Old) for FY 2017-18 – Part I
Salary Tax Slabs Tax Rate Health and Education Cess
Salary up to Rs 2,50,000* No duty
Salary from Rs 2,50,000 – Rs 5,00,000 5% 3% of Income Tax
Salary from Rs 5,00,000 – 10,00,000 20% 3% of Income Tax
Salary more than Rs 10,00,000 30% 3% of Income Tax
Extra charge: 10% of salary impose, where add up to pay surpasses Rs.50 lakh up to Rs.1 crore.
Additional charge: 15% of pay assess, where the aggregate salary surpasses Rs.1 crore.
*Income charge exclusion limit for FY 2017-18 is dependent upon Rs. 2,50,000 for individual and HUF other than those shrouded in Part(II) or (III)
Pay Tax Slabs for Senior Citizens (60 Years Old Or More yet Less than 80 Years Old) for FY 2017-18 – Part II
Pay Tax Slabs Tax Rate Health and Education Cess
Pay up to Rs 3,00,000* No expense
Pay from Rs 3,00,000 – Rs 5,00,000 5% 3% of Income Tax
Pay from Rs 5,00,000 – 10,00,000 20% 3% of Income Tax
Pay more than Rs 10,00,000 30% 3% of Income Tax
Extra charge: 10% of salary assess, where add up to pay surpasses Rs.50 lakh up to Rs.1 crore.
Extra charge: 15% of salary assess, where the aggregate pay surpasses Rs.1 crore.
*Income assess exception limit for FY 2017-18 is dependent upon Rs. 3,00,000 other than those shrouded in Part(I) or (III)
Pay Tax Slabs for Senior Citizens(80 Years Old Or More) for FY 2017-18 – Part III
Pay Tax Slabs Tax Rate Health and Education Cess
Pay up to Rs 5,00,000* No expense
Salary from Rs 5,00,000 – 10,00,000 20% 3% of Income Tax
Salary more than Rs 10,00,000 30% 3% of Income Tax
Extra charge: 10% of pay impose, where add up to pay surpasses Rs.50 lakh up to Rs.1 crore.
Extra charge: 15% of pay impose, where the aggregate pay surpasses Rs.1 crore.
*Income assess exclusion limit for FY 2017-18 is dependent upon Rs. 5,00,000 other than those canvassed in Part(I) or (II)
Salary Tax Slabs for Domestic Companies for FY 2017-18 – Part IV
Turnover Particulars Tax Rate
Net turnover upto 50 Cr. in the earlier year 2015-16 25%
Net turnover surpassing 50 Cr. in the earlier year 2015-16 30%
What's more cess and extra charge is demanded as pursues: Cess: 3% of corporate expense Surcharge: Taxable salary is more than 1Cr. however, under 10Cr.: 7% Taxable pay is more than 10Cr. :12%
Pay Tax Slabs Rates for FY 2016-17(AY 2017-18)
Pay Tax Slabs for Individual Tax Payers and HUF (Less than 60 Years Old) for FY 2016-17 – Part I
Pay Tax Slabs Tax Rate e-Filing Tax Returns
Pay up to Rs 2,50,000* No tax 31st March 2018 is the last date to document government forms.
Try not to miss it!
Pay from Rs 2,50,000 – Rs 5,00,000 10%
Pay from Rs 5,00,000 – 10,00,000 20%
Pay more than Rs 10,00,000 30%
Additional charge: 15% of salary assess, where add up to pay surpasses Rs.1 crore.
Advanced education and auxiliary cess: 3% of Income Tax.
*Income assess exclusion limit for FY 2016-17 is dependent upon Rs. 2,50,000 other than those canvassed in Part(I) or (II)
Pay Tax Slabs for Senior Citizens (60 Years Old Or More however Less than 80 Years Old) for FY 2016-17 – Part II
Pay Tax Slabs Tax Rate e-Filing Tax Returns
Pay up to Rs 3,00,000* No tax 31st March 2018 is the last date to record expense forms.
Try not to miss it!
Pay from Rs 3,00,000 – Rs 5,00,000 10%
Pay from Rs 5,00,000 – 10,00,000 20%
Pay more than Rs 10,00,000 30%
Additional charge: 15% of pay impose, where add up to salary surpasses Rs.1 crore.
Advanced education and optional cess: 3% of Income Tax.
*Income assess exception limit for FY 2016-17 is dependent upon Rs. 3,00,000 other than those canvassed in Part(I) or (III)
Salary Tax Slabs for Senior Citizens(80 Years Old Or More) for FY 2016-17 – Part III
Salary Tax Slabs Tax Rate e-Filing Tax Returns
Salary up to Rs 5,00,000* No tax 31st March 2018 is the last date to record assessment forms.
Try not to miss it!
Salary from Rs 5,00,000 – 10,00,000 20%
Salary more than Rs 10,00,000 30%
Extra charge: 15% of pay assess, where the aggregate pay surpasses Rs.1 crore.
Advanced education and auxiliary cess: 3% of Income Tax.
*Income assess exclusion limit for FY 2016-17 is dependent upon Rs. 5,00,000 other than those canvassed in Part(I) or (II)
Pay Tax Slabs for Domestic Companies for FY 2016-17 – Part IV
Turnover Particulars Tax Rate
Net turnover upto 5 Cr. in the earlier year 2014-15 29%
Net turnover surpassing 5 Cr. in the earlier year 2014-15 30%
Likewise cess and extra charge is collected as pursues: Cess: 3% of corporate expense Surcharge: Taxable pay is more than 1Cr. in any case, under 10Cr.: 7% Taxable salary is more than 10Cr. :12%
How to Calculate Income Tax from Income Tax Slabs?
Rohit has an aggregate assessable salary of Rs 8,00,000. This pay has been determined by including pay from all sources, for example, compensation, rental pay, and intrigue pay. Reasonings under area 80 have additionally been decreased. Rohit needs to know his assessment duty for FY 2017-18 (AY 2018-19).
Pay Slabs Tax Rate Tax Calculation
*Income up to Rs 2,50,000 No duty
Pay from Rs 2,50,000 – Rs 5,00,000 5% (Rs 5,00,000 – Rs 2,50,000) Rs 12,500
Pay from Rs 5,00,000 – 10,00,000 20% (Rs 8,00,000 – Rs 5,00,000) Rs 60,000
Pay more than Rs 10,00,000 30% nil
Tax Rs 72,500
Cess 4% of Rs 72,500 Rs 2,900
Add up to charge in FY 2017-18 (AY 2018-19) Rs 75,400
*Please take note of that Rohit is an individual assesse having a pay impose exclusion of Rs 2,50,000. For other assesse as referenced in table Part II and III, the Income impose limit for profiting the exclusion would be Rs 3,00,000 and Rs 5,00,000 separately.
Pay Tax Slabs Rates for FY 2015-16 (AY 2016-17)
Pay Tax Slabs for Individual Tax Payers and HUF (Less than 60 Years Old) for FY 2015-16 – Part I
Pay Tax Slabs Tax Rate e-Filing Tax Returns
Pay up to Rs 2,50,000* No tax 31st March 2018 is the last date to record government forms.
Try not to miss it!
Pay from Rs 2,50,000 – Rs 5,00,000 10%
Pay from Rs 5,00,000 – 10,00,000 20%
Pay more than Rs 10,00,000 30%
Additional charge: 12% of pay assess, where the aggregate salary surpasses Rs.1 crore.
Advanced education and optional cess: 3% of Income Tax.
*Income charge exception limit for FY 2015-16 is dependent upon Rs. 2,50,000 for individual and HUF other than those shrouded in Part(II) or (III)
Pay Tax Slabs for Senior Citizens (60 Years Old Or More yet Less than 80 Years Old) for FY 2015-16 – Part II
Pay Tax Slabs Tax Rate e-Filing Tax Returns
Pay up to Rs 3,00,000* No tax 31st March 2018 is the last date to document government forms.
Try not to miss it!
Pay from Rs 3,00,000 – Rs 5,00,000 10%
Pay from Rs 5,00,000 – 10,00,000 20%
Pay more than Rs 10,00,000 30%
Additional charge: 12% of pay impose, where add up to pay surpasses Rs.1 crore.
Advanced education and optional cess: 3% of Income Tax.
*Income assess exception limit for FY 2015-16 is dependent upon Rs. 3,00,000 other than those shrouded in Part(I) or (III)
In India, salary assess is exacted on individual citizens based on a chunk framework where distinctive expense rates have been endorsed for various pieces and such duty rates continue expanding with an expansion in the pay section.
Such assessment chunks will in general experience a change amid each financial plan.
Further, since the financial plan 2018 has not reported any adjustments in pay charge chunks this time, it continues as before as that of a year ago.
There are three classifications of individual citizens:
1.Individuals (underneath the age of 60 years) which incorporates inhabitants and non-occupants
2.Resident Senior nationals (60 years or more yet beneath 80 years old)
3.Resident Super senior nationals (over 80 years old)
Salary Tax Slabs for Individual Tax Payers and HUF (Less Than 60 Years Old) for FY 2018-19 – Part I
Salary TAX SLABS TAX RATE HEALTH AND EDUCATION CESS
Salary up to Rs 2,50,000* No assessment
Salary from Rs 2,50,000 – Rs 5,00,000 5% 4% of Income Tax
Pay from Rs 5,00,000 – 10,00,000 20% 4% of Income Tax
Pay more than Rs 10,00,000 30% 4% of Income Tax
Contribute Now and Save Upto ₹ 46,800 on Taxes
Additional charge: 10% of pay impose, where add up to pay surpasses Rs.50 lakh up to Rs.1 crore.
Additional charge: 15% of pay impose, where the aggregate pay surpasses Rs.1 crore.
*Income charge exclusion limit for FY 2018-19 is dependent upon Rs. 2,50,000 for individual and HUF other than those shrouded in Part(II) or (III)
Pay Tax Slabs for Senior Citizens (60 Years Old Or More however Less than 80 Years Old) for FY 2018-19 – Part II
Pay Tax Slabs Tax Rate Health and Education Cess
Pay up to Rs 3,00,000* No expense
Pay from Rs 3,00,000 – Rs 5,00,000 5% 4% of Income Tax
Pay from Rs 5,00,000 – 10,00,000 20% 4% of Income Tax
Pay more than Rs 10,00,000 30% 4% of Income Tax
Additional charge: 10% of salary impose, where add up to pay surpasses Rs.50 lakh up to Rs.1 crore.
Additional charge: 15% of pay assess, where the aggregate pay surpasses Rs.1 crore.
*Income charge exception limit for FY 2018-19 is dependent upon Rs. 3,00,000 other than those canvassed in Part(I) or (III)
Salary Tax Slabs for Senior Citizens(80 Years Old Or More) for FY 2018-19 – Part III
Salary Tax Slabs Tax Rate Health and Education Cess
Salary up to Rs 5,00,000* No assessment
Salary from Rs 5,00,000 – 10,00,000 20% 4% of Income Tax
Salary more than Rs 10,00,000 30% 4% of Income Tax
Extra charge: 10% of pay assess, where add up to pay surpasses Rs.50 lakh up to Rs.1 crore.
Additional charge: 15% of salary assess, where the aggregate pay surpasses Rs.1 crore.
*Income impose exception limit for FY 2018-19 is dependent upon Rs. 5,00,000 other than those shrouded in Part(I) or (II)
Salary Tax Slabs for Domestic Companies for FY 2018-19 – Part IV
Turnover Particulars Tax Rate
Net turnover upto 250 Cr. in the past year 25%
Net turnover surpassing 250 Cr. in the past year 29%
What's more cess and extra charge is collected as pursues: Cess: 4% of corporate duty Surcharge: Taxable pay is more than 1Cr. be that as it may, under 10Cr.: 7% Taxable salary is more than 10Cr. :12%
Salary Tax Slabs Rates for FY 2017-18(AY 2018-19)
Salary Tax Slabs for Individual Tax Payers and HUF (Less Than 60 Years Old) for FY 2017-18 – Part I
Salary Tax Slabs Tax Rate Health and Education Cess
Salary up to Rs 2,50,000* No duty
Salary from Rs 2,50,000 – Rs 5,00,000 5% 3% of Income Tax
Salary from Rs 5,00,000 – 10,00,000 20% 3% of Income Tax
Salary more than Rs 10,00,000 30% 3% of Income Tax
Extra charge: 10% of salary impose, where add up to pay surpasses Rs.50 lakh up to Rs.1 crore.
Additional charge: 15% of pay assess, where the aggregate salary surpasses Rs.1 crore.
*Income charge exclusion limit for FY 2017-18 is dependent upon Rs. 2,50,000 for individual and HUF other than those shrouded in Part(II) or (III)
Pay Tax Slabs for Senior Citizens (60 Years Old Or More yet Less than 80 Years Old) for FY 2017-18 – Part II
Pay Tax Slabs Tax Rate Health and Education Cess
Pay up to Rs 3,00,000* No expense
Pay from Rs 3,00,000 – Rs 5,00,000 5% 3% of Income Tax
Pay from Rs 5,00,000 – 10,00,000 20% 3% of Income Tax
Pay more than Rs 10,00,000 30% 3% of Income Tax
Extra charge: 10% of salary assess, where add up to pay surpasses Rs.50 lakh up to Rs.1 crore.
Extra charge: 15% of salary assess, where the aggregate pay surpasses Rs.1 crore.
*Income assess exception limit for FY 2017-18 is dependent upon Rs. 3,00,000 other than those shrouded in Part(I) or (III)
Pay Tax Slabs for Senior Citizens(80 Years Old Or More) for FY 2017-18 – Part III
Pay Tax Slabs Tax Rate Health and Education Cess
Pay up to Rs 5,00,000* No expense
Salary from Rs 5,00,000 – 10,00,000 20% 3% of Income Tax
Salary more than Rs 10,00,000 30% 3% of Income Tax
Extra charge: 10% of pay impose, where add up to pay surpasses Rs.50 lakh up to Rs.1 crore.
Extra charge: 15% of pay impose, where the aggregate pay surpasses Rs.1 crore.
*Income assess exclusion limit for FY 2017-18 is dependent upon Rs. 5,00,000 other than those canvassed in Part(I) or (II)
Salary Tax Slabs for Domestic Companies for FY 2017-18 – Part IV
Turnover Particulars Tax Rate
Net turnover upto 50 Cr. in the earlier year 2015-16 25%
Net turnover surpassing 50 Cr. in the earlier year 2015-16 30%
What's more cess and extra charge is demanded as pursues: Cess: 3% of corporate expense Surcharge: Taxable salary is more than 1Cr. however, under 10Cr.: 7% Taxable pay is more than 10Cr. :12%
Pay Tax Slabs Rates for FY 2016-17(AY 2017-18)
Pay Tax Slabs for Individual Tax Payers and HUF (Less than 60 Years Old) for FY 2016-17 – Part I
Pay Tax Slabs Tax Rate e-Filing Tax Returns
Pay up to Rs 2,50,000* No tax 31st March 2018 is the last date to document government forms.
Try not to miss it!
Pay from Rs 2,50,000 – Rs 5,00,000 10%
Pay from Rs 5,00,000 – 10,00,000 20%
Pay more than Rs 10,00,000 30%
Additional charge: 15% of salary assess, where add up to pay surpasses Rs.1 crore.
Advanced education and auxiliary cess: 3% of Income Tax.
*Income assess exclusion limit for FY 2016-17 is dependent upon Rs. 2,50,000 other than those canvassed in Part(I) or (II)
Pay Tax Slabs for Senior Citizens (60 Years Old Or More however Less than 80 Years Old) for FY 2016-17 – Part II
Pay Tax Slabs Tax Rate e-Filing Tax Returns
Pay up to Rs 3,00,000* No tax 31st March 2018 is the last date to record expense forms.
Try not to miss it!
Pay from Rs 3,00,000 – Rs 5,00,000 10%
Pay from Rs 5,00,000 – 10,00,000 20%
Pay more than Rs 10,00,000 30%
Additional charge: 15% of pay impose, where add up to salary surpasses Rs.1 crore.
Advanced education and optional cess: 3% of Income Tax.
*Income assess exception limit for FY 2016-17 is dependent upon Rs. 3,00,000 other than those canvassed in Part(I) or (III)
Salary Tax Slabs for Senior Citizens(80 Years Old Or More) for FY 2016-17 – Part III
Salary Tax Slabs Tax Rate e-Filing Tax Returns
Salary up to Rs 5,00,000* No tax 31st March 2018 is the last date to record assessment forms.
Try not to miss it!
Salary from Rs 5,00,000 – 10,00,000 20%
Salary more than Rs 10,00,000 30%
Extra charge: 15% of pay assess, where the aggregate pay surpasses Rs.1 crore.
Advanced education and auxiliary cess: 3% of Income Tax.
*Income assess exclusion limit for FY 2016-17 is dependent upon Rs. 5,00,000 other than those canvassed in Part(I) or (II)
Pay Tax Slabs for Domestic Companies for FY 2016-17 – Part IV
Turnover Particulars Tax Rate
Net turnover upto 5 Cr. in the earlier year 2014-15 29%
Net turnover surpassing 5 Cr. in the earlier year 2014-15 30%
Likewise cess and extra charge is collected as pursues: Cess: 3% of corporate expense Surcharge: Taxable pay is more than 1Cr. in any case, under 10Cr.: 7% Taxable salary is more than 10Cr. :12%
How to Calculate Income Tax from Income Tax Slabs?
Rohit has an aggregate assessable salary of Rs 8,00,000. This pay has been determined by including pay from all sources, for example, compensation, rental pay, and intrigue pay. Reasonings under area 80 have additionally been decreased. Rohit needs to know his assessment duty for FY 2017-18 (AY 2018-19).
Pay Slabs Tax Rate Tax Calculation
*Income up to Rs 2,50,000 No duty
Pay from Rs 2,50,000 – Rs 5,00,000 5% (Rs 5,00,000 – Rs 2,50,000) Rs 12,500
Pay from Rs 5,00,000 – 10,00,000 20% (Rs 8,00,000 – Rs 5,00,000) Rs 60,000
Pay more than Rs 10,00,000 30% nil
Tax Rs 72,500
Cess 4% of Rs 72,500 Rs 2,900
Add up to charge in FY 2017-18 (AY 2018-19) Rs 75,400
*Please take note of that Rohit is an individual assesse having a pay impose exclusion of Rs 2,50,000. For other assesse as referenced in table Part II and III, the Income impose limit for profiting the exclusion would be Rs 3,00,000 and Rs 5,00,000 separately.
Pay Tax Slabs Rates for FY 2015-16 (AY 2016-17)
Pay Tax Slabs for Individual Tax Payers and HUF (Less than 60 Years Old) for FY 2015-16 – Part I
Pay Tax Slabs Tax Rate e-Filing Tax Returns
Pay up to Rs 2,50,000* No tax 31st March 2018 is the last date to record government forms.
Try not to miss it!
Pay from Rs 2,50,000 – Rs 5,00,000 10%
Pay from Rs 5,00,000 – 10,00,000 20%
Pay more than Rs 10,00,000 30%
Additional charge: 12% of pay assess, where the aggregate salary surpasses Rs.1 crore.
Advanced education and optional cess: 3% of Income Tax.
*Income charge exception limit for FY 2015-16 is dependent upon Rs. 2,50,000 for individual and HUF other than those shrouded in Part(II) or (III)
Pay Tax Slabs for Senior Citizens (60 Years Old Or More yet Less than 80 Years Old) for FY 2015-16 – Part II
Pay Tax Slabs Tax Rate e-Filing Tax Returns
Pay up to Rs 3,00,000* No tax 31st March 2018 is the last date to document government forms.
Try not to miss it!
Pay from Rs 3,00,000 – Rs 5,00,000 10%
Pay from Rs 5,00,000 – 10,00,000 20%
Pay more than Rs 10,00,000 30%
Additional charge: 12% of pay impose, where add up to pay surpasses Rs.1 crore.
Advanced education and optional cess: 3% of Income Tax.
*Income assess exception limit for FY 2015-16 is dependent upon Rs. 3,00,000 other than those shrouded in Part(I) or (III)