Income Tax Rates and Slabs for FY 2017-18 (AY 2018-19)

Income tax slabs and rates applicable for Financial Year 2017-18 and Assessment Year 2018-19, based on Budget 2017.

Historical tax-year reference: This page relates specifically to FY 2017-18 and AY 2018-19. The rates, slabs, surcharge and cess figures below are retained for that period and are not presented as current-year tax rates.

Income Tax Rate Categories

Individuals below 60 years Senior citizens: 60 to below 80 years Super senior citizens: 80 years or more NRI, HUF, BOI or AJP Co-operative society Partnership firm Local authority Domestic company: turnover up to ₹50 crore Domestic company: turnover above ₹50 crore Companies other than domestic companies

Part A: Income Tax Slab for Individual & HUF Taxpayers

Less than 60 years old

Income Range	Income Tax Rate
₹0 - ₹2,50,000	No tax
₹2,50,000 - ₹5,00,000	5%
₹5,00,000 - ₹10,00,000	20%
₹10,00,000 and above	30%
Surcharge: 10% of income tax for income between ₹50,00,000 and ₹1,00,00,000; 15% of income tax where total income exceeds ₹1 crore. Cess: 3% on income tax plus surcharge.

Part B: Income Tax Slab for Individual & HUF Taxpayers

60 years or more but less than 80 years

Income Range	Income Tax Rate
₹0 - ₹3,00,000	No tax
₹3,00,000 - ₹5,00,000	5%
₹5,00,000 - ₹10,00,000	20%
₹10,00,000 and above	30%
Surcharge: 10% of income tax for income between ₹50,00,000 and ₹1,00,00,000; 15% of income tax where total income exceeds ₹1 crore. Cess: 3% on income tax plus surcharge.

Part C: Income Tax Slab for Super Senior Citizens

80 years old or more

Income Range	Income Tax Rate
₹0 - ₹5,00,000	No tax
₹5,00,000 - ₹10,00,000	20%
₹10,00,000 and above	30%
Surcharge: 10% of income tax for income between ₹50,00,000 and ₹1,00,00,000; 15% of income tax where total income exceeds ₹1 crore. Cess: 3% on income tax plus surcharge.

Income Tax Slab for NRI, HUF, Body of Individuals (BOI) or AJP

Income Range	Income Tax Rate
₹0 - ₹2,50,000	No tax
₹2,50,000 - ₹5,00,000	5%
₹5,00,000 - ₹10,00,000	20%
₹10,00,000 and above	30%
Surcharge: 10% of income tax for income between ₹50,00,000 and ₹1,00,00,000; 15% of income tax where total income exceeds ₹1 crore. Cess: 3% on income tax plus surcharge.

Income Tax Slab for Co-operative Society

Income Range	Income Tax Rate
₹0 - ₹10,000	10%
₹10,000 - ₹20,000	20%
₹20,000 and above	30%
Surcharge: 12% of income tax where taxable income exceeded ₹1 crore. Cess: 3% on income tax plus surcharge.

Income Tax for Partnership Firm

Income tax: 30% of taxable income.

Surcharge: 12% of income tax where taxable income exceeded ₹1 crore.

Cess: 3% on income tax plus surcharge.

Income Tax for Local Authority

Income tax: 30% of taxable income.

Surcharge: 12% of income tax where taxable income exceeded ₹1 crore.

Cess: 3% on income tax plus surcharge.

Income Tax for Domestic Company with Turnover up to ₹50 Crore

Income tax: 25% of taxable income.

Surcharge: 7% where taxable income exceeded ₹1 crore; 12% where taxable income exceeded ₹10 crore.

Cess: 3% on income tax plus surcharge.

Income Tax for Domestic Company with Turnover Exceeding ₹50 Crore

Income tax: 30% of taxable income.

Surcharge: 7% where taxable income exceeded ₹1 crore; 12% where taxable income exceeded ₹10 crore.

Cess: 3% on income tax plus surcharge.

Income Tax for Companies Other than Domestic Companies

Income tax: 50% on so much of the taxable income as consisted of:

(a) royalties received from Government or an Indian concern under an agreement made after 31 March 1961 but before 1 April 1976; or

(b) fees for rendering technical services received from Government or an Indian concern under an agreement made after 29 February 1964 but before 1 April 1976, where the agreement had been approved by the Central Government.

Balance taxable income: 40%.

Surcharge: 2% where taxable income exceeded ₹1 crore; 5% where taxable income exceeded ₹10 crore.

Cess: 3% on income tax plus surcharge.