Slab Rates for Individual for AY 2019-20

 

 
Tax Rates for Individuals
 
 
Income
 
Rates of Income Tax
 
 
Individual (Age less than 60 Years)
 
Senior Citizen (Age above 60 Years)
 
Super Senior Citizen (Age above 80 Years)
1.
Up to Rs. 2,50,000
Nil
Nil
Nil
2.
Rs. 2,50,000 to Rs. 3,00,000
5%
Nil
Nil
3.
Rs. 3,00,000 to Rs. 5,00,000
5%
5%
Nil
4.
Rs. 5,00,000 to Rs. 10,00,000
20%
20%
20%
5.
Above Rs. 10,00,000
30%
30%
30%

* The health &education cess at the rate of 4% shall be computed on the aggregate of Income-Tax and Surcharge.

Tax Rates* for Co-operatives Societies for the A.Y. 2019-20 :

 
Tax Rates* for Co-operatives Societies for the A.Y. 2019-20
 
 
Income
 
 
Rates of income-tax
1.
Up to Rs. 10,000

10%
2.
Rs.10,000 – Rs.20,000

20%
3
Above Rs. 20,000

30%

*The above rates are exclusive of surcharge and cess.

Rates of Surcharge :

 
Rates of Surcharge
 
 
Particulars
 
Taxable Income
 
 
50 Lacs to 1 Crore
 
1 Crore to 10 Crores
 
Exceeding 10 Crores
1.
Individuals/HUF

10%
15%
15%
2.
Firm/ Local Authority/ Co-operative Society

Nil
12%
12%
3.
Domestic Company

Nil
7%
12%
4.
Foreign Company

Nil
2%
5%
5.
Co-operative Societies

Nil
12%
12%