You are here
OLD SLAB RATE
| INCOME | TAX |
| UPTO 250000 | Nil |
| 250000-500000 | 10% of Income Greater than 250000 |
| 500000-1000000 | 20% of Income Greater than 500000+25000 |
| >1000000 | 30% of Income Greater than 500000+125000 |
(Applicable for ITR of Financial Year 2016-17 (AY 2017-18)
(Applicable for Payroll till 31 March 2017)
Note:- For Senior Citizens (60 years -80 Years),Upto 300000 exempt
Note:- For Super Senior Citizens (80 years or above),Upto 500000 exempt
NEW SLAB RATES
| INCOME | TAX |
| UPTO 250000 | Nil |
| 250000-500000 | 5% of Income Greater than 250000 |
| 500000-1000000 | 20% of Income Greater than 500000+12500 |
| >1000000 | 30% of Income Greater than 500000+112500 |
(Applicable for ITR of Financial Year 2017-18 (AY 2018-19)
Also applicable for Payroll from 1 April 2017
Note:- For Senior Citizens (60 years -80 Years),Upto 300000 exempt
Note:- For Super Senior Citizens (80 years or above),Upto 500000 exempt
Change in Rebates
OLD
Rebate of Max 5000 if Income between 250000-500000
New
Rebate of 2500 if Income between 250000-350000
Surcharge
OLD
if Income More than 1 Crores,then 15% Surcharge
New
if Income between 50 lacs to 1 Crores,then 10% Surcharge
if Income More than 1 Crores,then 15% Surcharge
