Slab Rate

Latest Income Tax Slab Rates for AY AY 2019-20 (FY 2018-19)

1. Income Tax Slab Rates for Individuals / HUF (below the age of 60 years)

Income Slab	Tax Rate
Upto Rs. 2,50,000	No Tax
Rs. 2,50,000 to Rs. 5,00,000	5%
Rs. 5,00,000 to Rs. 10,00,000	20%
Above Rs. 10,00,000	30%

• Rebate as per Note 1
• Surcharge as per Note 2
• Education cess as per Note 3

2. Income Tax Slab Rates for senior citizens (aged between 60 years to 80 year)

Income Slab	Tax Rate
Upto Rs. 3,00,000	No Tax
Rs. 3,00,000 to Rs. 5,00,000	5%
Rs. 5,00,000 to Rs. 10,00,000	20%
Above Rs. 10,00,000	30%

3. Income Tax Slab Rates for super senior citizens (aged above 80 year)

Income Slab	Tax Rate
Upto Rs. 5,00,000	No Tax
Rs. 5,00,000 to Rs. 10,00,000	20%
Above Rs. 10,00,000	30%

Note 1 : Rebate for Individual

Rebate u/s 87A for Individuals: Rs. 2,500 or 100% of income tax, whichever is less - if total income is less than Rs. 3,50,000

Note 2 : Surcharge

Surcharge is additional percentage on tax if Income crosses certain limits. As under

Income Slab	Tax Rate
Rs. 50,00,000 to Rs. 1,00,00,000	10%
Rs. 1,00,00,000 or above	15%

Note 3 : Education cess @ 4%

Education cess is levied @ 4% on the amount of income tax plus surcharge.

Income chargeable at special rates

Although your total income is taxed as per the slab rates mentioned above, there are certain incomes which are taxed at special rates:

Nature of income	Tax Rate
Short term capital gains from sale of assets other than shares and mutual funds	Income tax slab rates as mentioned above
Long term capital gains from sale of assets other than shares and mutual funds	20% + surcharge and cess
Short term capital gains from sale of stocks and equity mutual funds	15% + surcharge and cess
Long term capital gains from sale of stocks and equity mutual funds	Exempt (NIL tax)
Short term capital gains from sale of debt mutual funds	Income tax slab rates as mentioned above
Long term capital gains from sale of debt mutual funds	20% with indexation + surcharge and cess