Income Tax Slabs & Rates in India: FY 2018-19, AY 2019-20
Income tax rates and slabs applicable for Financial Year 2018-19 and Assessment Year 2019-20 are set out below for individuals, senior citizens, partnership firms, co-operative societies and companies.
Historical tax-year reference: This page covers FY 2018-19 (AY 2019-20). The figures below relate to that period and are not presented as current-year tax rates.
1. Individuals and HUF
Income tax slabs for individuals below 60 years of age and Hindu Undivided Families (HUF) for FY 2018-19:
| Income slab | Tax rate | Surcharge | Health & Education Cess |
|---|---|---|---|
| Up to ₹2,50,000 | Nil | 10% where total income exceeds ₹50 lakh but does not exceed ₹1 crore; 15% where total income exceeds ₹1 crore. | 4% on income tax plus surcharge, where applicable. |
| ₹2,50,001 to ₹5,00,000 | 5% | ||
| ₹5,00,001 to ₹10,00,000 | 20% | ||
| Above ₹10,00,000 | 30% |
2. Senior Citizens: 60 Years to Below 80 Years
Income tax slabs for resident senior citizens aged 60 years or more but below 80 years for FY 2018-19:
| Income slab | Tax rate | Surcharge | Health & Education Cess |
|---|---|---|---|
| Up to ₹3,00,000 | Nil | 10% where total income exceeds ₹50 lakh but does not exceed ₹1 crore; 15% where total income exceeds ₹1 crore. | 4% on income tax plus surcharge, where applicable. |
| ₹3,00,001 to ₹5,00,000 | 5% | ||
| ₹5,00,001 to ₹10,00,000 | 20% | ||
| Above ₹10,00,000 | 30% |
3. Senior Citizens: 80 Years and Above
Income tax slabs for resident senior citizens aged 80 years or more for FY 2018-19:
| Income slab | Tax rate | Surcharge | Health & Education Cess |
|---|---|---|---|
| Up to ₹5,00,000 | Nil | 10% where total income exceeds ₹50 lakh but does not exceed ₹1 crore; 15% where total income exceeds ₹1 crore. | 4% on income tax plus surcharge, where applicable. |
| ₹5,00,001 to ₹10,00,000 | 20% | ||
| Above ₹10,00,000 | 30% |
4. Partnership Firm
| Particulars | Rate |
|---|---|
| Income tax | 30% |
| Surcharge where total income does not exceed ₹1 crore | Nil |
| Surcharge where total income exceeds ₹1 crore | 12% |
| Health & Education Cess | 4% on income tax plus surcharge, where applicable |
5. Co-operative Society
| Income slab | Tax rate | Health & Education Cess |
|---|---|---|
| Up to ₹10,000 | 10% | 4% on income tax plus surcharge, where applicable. |
| ₹10,001 to ₹20,000 | 20% | |
| Above ₹20,000 | 30% |
6. Companies
| Company / condition | Tax rate | Surcharge | Health & Education Cess |
|---|---|---|---|
| Domestic company qualifying for the ₹250 crore turnover threshold applicable for AY 2019-20 | 25% | Domestic company: Nil up to ₹1 crore; 7% above ₹1 crore up to ₹10 crore; 12% above ₹10 crore. | 4% on income tax plus surcharge, where applicable. |
| Other domestic company | 30% | ||
| Foreign company | 40% | Foreign company: Nil up to ₹1 crore; 2% above ₹1 crore up to ₹10 crore; 5% above ₹10 crore. |
The rates shown on this page are confined to FY 2018-19 / AY 2019-20 and are retained as historical tax-year information.