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Income-tax Rates for AY 2018-19

Individual:
  • Up to Rs. 2,50,000Nil
  • Rs. 2,50,001 to Rs. 5,00,0005%
  • Rs. 5,00,001 to Rs. 10,00,00020%
  • Above Rs. 10,00,00030%
  • *Surcharge: 10% if total income exceeds Rs. 50 lacs and 15% if total income exceeds Rs. 1 Crore
  • * Health & Education cess at 4% of Income Tax & Surcharge
  • * Relief u/s 87A up to Rs. 2,500 for resident individuals having total income of up to Rs. 3,50,000
Senior Citizen:

  • Up to Rs. 3,00,000Nil
  • Rs. 3,00,001 to Rs. 5,00,0005%
  • Rs. 5,00,001 to Rs. 10,00,00020%
  • Above Rs. 10,00,00030%
  • * Surcharge: 10% if total income exceeds Rs. 50 lacs and 15% if total income exceeds Rs. 1 Crore
  • * Health & Education cess at 4% of Income Tax & Surcharge
  • * Relief u/s 87A up to Rs. 2,500 for resident individuals having total income of up to Rs. 3,50,000
Super Senior Citizen:

  • Up to Rs. 5,00,000Nil
  • Rs. 5,00,001 to Rs. 10,00,00020%
  • Above Rs. 10,00,00030%
  • * Surcharge: 10% if total income exceeds Rs. 50 lacs and 15% if total income exceeds Rs. 1 Crore
  • * Health & Education cess at 4% of Income Tax & Surcharge
Partnership Firm:

  • Tax Rate30%
  • * Surcharge at 12% if total income exceeds Rs. 1 Crore.
  • * Health & Education cess at 4% of Income Tax & Surcharge
Domestic Company:

  • Tax Rate 30%**
  • MAT18.5%
  • * Surcharge: 7% if total income exceeds Rs. 1 Crore and 12% if total income exceeds Rs. 10 Crores
  • * Health & Education cess at 4% of Income Tax & Surcharge
  • ** Tax Rate is 25% if turnover or gross receipt of the company in the previous year 2016-17 doesn’t exceed Rs. 250 crore
Foreign Company:
  • Tax Rate40%
  • * Surcharge: 2% if total income exceeds Rs. 1 Crore and 5% if total income exceeds Rs. 10 Crores
  • * Health & Education cess at 4% of Income Tax & Surcharge

Source: www.taxmann.com
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