What is the slab rate for AY 2018 19?
What is the slab rate for AY 2018 19?
INCOME SLABS | INCOME TAX RATES |
---|---|
Upto Rs.2,50,000 | NIL |
Rs. 2,50,000 to 5,00,000 | 5% of the amount exceeding Rs. 2,50,000 |
Rs. 5,00,000 to 10,00,000 | Rs. 12,500/- + 20% of the amount exceeding Rs. 5,00,000 Rebate of Rs. 2,500/- for those having total income upto Rs. 3.5 lakh |
What is normal income tax rate?
There are seven tax brackets for most ordinary income for the 2021 tax year: 10 percent, 12 percent, 22 percent, 24 percent, 32 percent, 35 percent and 37 percent.
What is the current slab rate of income tax?
a. Income tax slab rate for New Tax regime
Income Tax Slab | New Regime Income Tax Slab Rates (Applicable for All Individuals & HUF) |
---|---|
Rs 5.00 lakh- Rs 7.5 lakh | 10% |
Rs 7.5 lakh – Rs 10.00 lakh | 15% |
Rs 10.00 lakhs – Rs 12.50 lakh | 20% |
Rs 12.5 lakhs – Rs 15.00 lakh | 25% |
What is the slab rate for AY 2017 18?
INCOME SLABS | INCOME TAX RATES |
---|---|
Upto Rs.2,50,000 | NIL |
Rs. 2,50,000 to 5,00,000 | 10% of the amount exceeding Rs. 2,50,000 Less: Tax Credit – 100% of income-tax or Rs. 5,000/-, whichever is less *. |
Rs. 5,00,000 to 10,00,000 | Rs. 25,000 + 20% of the amount exceeding Rs. 5,00,000 |
What is the income tax slab for assessment year 2019 20?
Income Tax Slab in India 2019-20
Taxable income | Tax Rate (Existing Scheme) | Tax Rate (New Scheme) |
---|---|---|
Rs. 2,50,001 to Rs. 5,00,000 | 5% | 5% |
Rs. 5,00,001 to Rs. 7,50,000 | 20% | 10% |
Rs. 7,50,001 to Rs. 10,00,000 | 20% | 15% |
Rs. 10,00,001 to Rs. 12,50,000 | 30% | 20% |