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Tax Information

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Tax Information
Every year with Government budget, the most common expectation an Indian citizen has is of ‘change for better’ in the Income tax slab. So to plan your investment strategy and understand how much tax liability you will incur this year let’s have a look at the tax structure for different categories. These categories are created by the Government of India for taxation purposes, and they are based on Gender and Age.
  • 2019-2020
  • 2018-2019
  • 2017-2018
  • 2016-2017
  • 2015-2016
Income tax slabs 2019-2020 for Individuals & HUF below 60 years of age
Taxable income slabs Tax and Cess Change In Amount
Income tax rates and cess  Educational cess Post Budget Tax Liability Increase in TAX due to cess
Up to Rs 2.5 lakhs  Nil Nil - -
Rs 2,50,001 to Rs 5,00,000 5% of (Total income minus Rs 2,50,000) + 4% cess   2% of Income Tax 13000 125
Rs 5,00,001 to Rs 10,00,000  Rs 12,500 + 20% of (Total income minus Rs 5,00,000) + 4% cess  2% of Income Tax 1,17,000 1125
Rs 10,00,001 and above   Rs 1,12,500 + 30% of (Total income minus Rs 10,00,000) + 4% cess   2% of Income Tax 2,73,000 2625
*Rebate of Rs 12,500 will be available for taxpayers with taxable income up to Rs 5 lakh available under Section 87A
Income tax slabs 2019-2020 for Senior citizens (Aged 60 years but less than 80 years)
Taxable income slabs Tax and Cess Change In Amount
Income tax rates and cess  Educational cess Post Budget Tax Liability Increase in TAX due to cess
Up to Rs 3 lakhs   Nil Nil - -
Rs 3,00,001 to Rs 5,00,000  5% of (Total income minus Rs 3,00,000) + 4% cess  2% of Income Tax 10400 100
Rs 5,00,001 to Rs 10,00,000  Rs 10,000 + 20% of (Total income minus Rs 5,00,000) + 4% cess  2% of Income Tax 1,14,400 1100
Rs 10,00,001 and above  Rs 1,10,000 + 30% of (Total income minus Rs 10,00,000) + 4% cess  2% of Income Tax 2,70,400 2600
*Rebate of Rs 12,500 will be available for taxpayers with taxable income up to Rs 5 lakh available under Section 87A
Income tax slabs 2019-2020 for Super Senior citizens (Above 80 Years)
Taxable income slabs Tax and Cess Change In Amount
Income tax rates and cess  Educational cess Post Budget Tax Liability Increase in TAX due to cess
Up to Rs 5 lakhs    Nil Nil - -
Rs 5,00,001 to Rs 10,00,000  20% of (Total income minus Rs 5,00,000) + 4% cess   2% of Income Tax 1,04,000 1000
Rs 10,00,001 and above   Rs 1,00,000 + 30% of (Total income minus Rs 10,00,000) + 4% cess   2% of Income Tax 2,60,000 2500


Surcharges to be levied for FY 2019-20:
Taxable Income Surcharge (%)
Income above Rs 50 lakh but below Rs 1 crore  10
Income above Rs 1 crore but below Rs 2 crore  15
Income above Rs 2 crore but below 5 crore   25
Income above Rs 5 crore 37
For Non-resident individuals (NRI), the basic exemption limit is of Rs 2.5 lakh in a financial year irrespective of their age.
A resident individual can also avail rebate under Section 87(A) whose net income is equal to or less than Rs 3.5 lakh. The amount of rebate under this section is 100% of the income tax or Rs 2,500 whichever is less. It is deductible before calculating the cess.
What changed for Super HNIs?
Income Between 2 Crore and 5 Crore
  Existing Proposed
Total Income 3,00,00,000 3,00,00,000
Deduction Claimed -6,00,000 -6,00,000
New Taxable Income 2,94,00,000 2,94,00,000
Tax on this 86,32,500 86,32,500
Surcharge 12,94,875 21,58,125
Cess 3,97,095 4,31,625
Total Tax 1.03 Crore 1.12 Crore
Higher By 8.98 Lakh Per Year
74,815 Per Year


Income Above 5 Crore
  Existing Proposed
Total Income 6,00,00,000 6,00,00,000
Deduction Claimed -10,00,000 -10,00,000
New Taxable Income 5,90,00,000 5,90,00,000
Tax on this 1,75,12,500 1,75,12,500
Surcharge 26,26,875 64,79,625
Cess 8,05,575 9,59,685
Total Tax 2.09 Crore 2.49 Crore
Higher By 40 Lakh Per Year
3.33 Lakh Per Year
Income tax slabs 2018-19 for Individuals & HUF
Income tax slab (in Rs.) Tax percentage Education Cess Surcharge
0 to 250000 Nil Nil Nil
250001 to 350000 5%* 4% Nil
250001 to 500000 5% 4% Nil
500001 to 1000000 20% 4% Nil
1000001 to 5000000 30% 4% Nil
5000001 to 10000000 30% 4% 10%
10000001 & Above 30% 4% 15%
*Rebate of Rs.2500 can be claimed by individuals earning between Rs 2.5 lakh and Rs 3.5 lakh u/s87A
Income tax slabs 2018-19- for Senior citizens (Aged 60 years but less than 80 years)
Income tax slab (in Rs.) Tax percentage Education Cess Surcharge
0 to 300000 Nil Nil Nil
300001 to 350000 5%* 4% Nil
300001 to 500000 5% 4% Nil
500000 to 1000000 20% 4% Nil
1000001 to 5000000 30% 4% Nil
5000001 to 10000000 30% 4% 10%
10000001 & Above 30% 4% 15%
*Rebate of Rs.2500 can be claimed by individuals earning between Rs 2.5 lakh and Rs 3.5 lakh u/s87A
Income tax slabs 2018-19 - for Very Senior citizens (Above 80 years)
Income tax slab (in Rs.) Tax percentage Education Cess Surcharge
0 to 500000 Nil Nil Nil
500001 to 1000000 20% 4% Nil
1000001 to 5000000 30% 4% Nil
5000001 to 10000000 30% 4% 10%
10000001 & Above 30% 4% 15%
Surcharge: If the total income exceeds Rs 50 Lakhs but below Rs 1 crore, a surcharge of 10% will be levied. 15% surcharge on income tax if the total income is over and above Rs 1 cr
Income tax slabs 2017-2018 for Individuals & HUF
Income tax slab (in Rs.) Tax percentage Education Cess Surcharge
0 to 250000 Nil Nil Nil
250001 to 350000 5%* 3% Nil
250001 to 500000 5% 3% Nil
500001 to 1000000 20% 3% Nil
1000001 to 5000000 30% 3% Nil
5000001 to 10000000 30% 3% 10%
10000001 & Above 30% 3% 15%
* U/S 87A, Tax rebate of Rs 2,500 for individuals with income of up to Rs 3.5 Lakh has been proposed
Income tax slabs 2017-2018 - for Senior citizens (Aged 60 years but less than 80 years)
Income tax slab (in Rs.) Tax percentage Education Cess Surcharge
0 to 300000 Nil Nil Nil
300001 to 350000 5%* 3% Nil
300001 to 500000 5% 3% Nil
500000 to 1000000 20% 3% Nil
1000001 to 5000000 30% 3% Nil
5000001 to 10000000 30% 3% 10%
10000001 & Above 30% 3% 15%
* U/S 87A, Tax rebate of Rs 2,500 for individuals with income of up to Rs 3.5 Lakh has been proposed
Income tax slabs 2017-2018 - for Very Senior citizens (Above 80 years)
Income tax slab (in Rs.) Tax percentage Education Cess Surcharge
0 to 500000 Nil Nil Nil
500001 to 1000000 20% 3% Nil
1000001 to 5000000 30% 3% Nil
5000001 to 10000000 30% 3% 10%
10000001 & Above 30% 3% 15%
Surcharge: If the total income exceeds Rs 50 Lakhs but below Rs 1 crore, a surcharge of 10% will be levied. 15% surcharge on income tax if the total income is over and above Rs 1 cr
India Income tax slabs 2016-2017 for General tax payers and Women
S. No. Income tax slab (in Rs.) Tax percentage
1 0 to 2,50,000 No tax
2 2,50,001 to 5,00,000 10%
3 5,00,001 to 10,00,000 20%
4 Above 10,00,000 30%
India Income tax slabs 2016-2017 - for Senior citizens (Aged 60 years but less than 80 years)
S. No. Income tax slab (in Rs.) Tax percentage
1 0 to 3,00,000 No tax
2 3,00,001 to 5,00,000 10%
3 5,00,001 to 10,00,000 20%
4 Above 10,00,000 30%
India Income tax slabs 2016-2017 - for Very Senior citizens (Above 80 years)
S. No. Income tax slab (in Rs.) Tax percentage
1 0 to 5,00,000 No tax
2 5,00,001 to 10,00,000 20%
3 Above 10,00,000 30%
India Income tax slabs 2015-2016 for General tax payers and Women
S. No. Income tax slab (in Rs.) Tax percentage
1 0 to 2,50,000 No tax
2 2,50,001 to 5,00,000 10%
3 5,00,001 to 10,00,000 20%
4 Above 10,00,000 30%
India Income tax slabs 2015-2016 - for Senior citizens (Aged 60 years but less than 80 years)
S. No. Income tax slab (in Rs.) Tax percentage
1 0 to 3,00,000 No tax
2 3,00,001 to 5,00,000 10%
3 5,00,001 to 10,00,000 20%
4 Above 10,00,000 30%
India Income tax slabs 2015-2016 - for Very Senior citizens (Above 80 years)
S. No. Income tax slab (in Rs.) Tax percentage
1 0 to 5,00,000 No tax
2 5,00,001 to 10,00,000 20%
3 Above 10,00,000 30%