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Income Tax slabs for Financial Year 2017-18

Income tax rates for Financial Year 2017-18 which is applicable to income earned between 01-04-2017 to 31-03-2018 will be applicable per following table.

For person below age 60.

Income Slabs Tax Rates
Up to 2,50,000 No Tax
2,50,000 to 5,00,000 5%
5,00,000 to 10,00,000 20%
10,00,000 and above 30%

For person below above 60-80.

Income Slabs Tax Rates
Up to 3,00,000 No Tax
3,00,000 to 5,00,000 5%
5,00,000 to 10,00,000 20%
10,00,000 and above 30%
Comments & Reviews

Wrote : 05-03-2017 13:07:29

Hi Ravi, The tax Is deducted on the Gross income or on the remaining income after declaration ?? Regards, Suresh

Replied : 05-03-2017 13:17:07
Taxable income is Gross Income - Deductions (Life insurance premium, PPF deposit, medical insurance premium etc.)

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