Income Tax Slab Rate for AY 2019-20 (F.Y 2018-19)
There has been no change in the Income Tax Slabs rate for AY 2019-20 (F.Y 2018-19), and the Income of Tax Slabs which is applicable for Financial Year 2018-19, could continue to be applicable. The only change is that the rebate allowed under Section 87A has increased, which would practically lead to No Tax on the income up to Rs. 5 Lakhs.
On the basis of these Income Tax Slab Rate, the tax would be deducted during the tax payments.
Income Tax Slab Rate for Taxpayer
The Income Tax Slab Rates are different for various categories of taxpayers.
For Individual
- Individuals below 60 Years of Age
- For all Senior Citizens above 60 years to 80 yrs of age
- For all Super Senior Citizens above 80 years
For Business
- For Co-operative Society
- Firm and Local Authority and Domestic Company
Income Tax Slab Rate
Income Tax Slabs rate applies to the assessment Year 2019-20 with financial Year 19-20. Educate Cess @ 4% levy. An additional surcharge of 12% is added if the total income exceeds 1 cr. in a year.
To download the Income Tax Slab Rate for AY 2019-20 in PDF format follow the link given below and check the all related updates of new income tax slab rate.