Income Tax Slabs 2017- 2018

rp_call-money-300x184.jpgUnion finance minister Arun Jaitley reduce the tax bracket of existing base tax rate to 5 per cent from the earlier 10 per cent on income of between Rs 2.5 lakh to Rs 5 lakh. Surcharge of 10% for those whose annual income is Rs 50 lakh to 1 crore and 15% surcharge on incomes above Rs 1 crore to continue.

Income Slab Tax rate
Income up to Rs 3 Lakh Nil
Income  from  Rs 3 Lakh – Rs 5 Lakh 5%
Income  from  Rs 5 Lakh – Rs 10 Lakh 20%
Income  from  Rs 10 Lakh – Rs 50 Lakh 30%
Income  from  Rs 50 Lakh – Rs 1 crore 30% + 10 % surcharge
Income above 1 crore 30% + 15%  surcharge