Income Tax Rates for FY 2017-18
FINANCIAL YEAR 2017-18 (ASSESSMENT YEAR 2018-19)
| Resident Very Senior Citizens | Local Authority |
| Resident Senior Citizens | Firms & LLPs |
| Resident Women/ Female | Domestic Companies |
| Any other Individuals,HUF, AOP, BOI, AJP | Foreign Companies |
| Co-operative Society | Marginal Relief |
Resident Very Senior Citizen (80 years or more at any time during the financial year)
| Taxable Income | Tax Payable |
| Upto Rs. 5,00,000 | NIL |
| From Rs. 5,00,001 to Rs.10,00,000 | 20% of income above Rs.5,00,000 |
| Above Rs.10,00,000 | Rs.1,00,000 + 30% of income above Rs.10,00,000 |
| Surcharge | NIL up to 50 lakhs. 10% above 50 lakhs, 15% above 1 crore |
| Education Cess | 2% of (Total tax payable + Surcharge) |
| Secondary & Higher Education Cess | 1% of (Total tax payable + Surcharge) |
Resident Senior Citizen (60 years or more at any time during the financial year)
| Taxable Income | Tax Payable |
| Upto Rs.3,00,000 | NIL |
| From Rs.3,00,001 to Rs.5,00,000 | 5% of income above Rs.3,00,000 |
| From Rs.5,00,001 to Rs.10,00,000 | Rs. 10,000 + 20% of income above Rs.5,00,000 |
| Above Rs.10,00,000 | Rs.1,10,000 + 30% of income above Rs.10,00,000 |
| Surcharge | NIL up to 50 lakhs. 10% above 50 lakhs, 15% above 1 crore |
| Education Cess | 2% of Total tax payable |
| Secondary & Higher Education Cess | 1% of Total tax payable |
Resident Women/ Female
| Taxable Income | Tax Payable |
| Upto Rs. 2,50,000 | NIL |
| From Rs. 2,50,001 to Rs. 5,00,000 | 5% of income above Rs. 2,50,000 |
| From Rs. 5,00,001 to Rs.10,00,000 | Rs.12,500 + 20% of income above Rs.500,000 |
| Above Rs.1000,000 | Rs.112,500 + 30% of income above Rs.1000,000 |
| Surcharge | NIL up to 50 lakhs. 10% above 50 lakhs, 15% above 1 crore |
| Education Cess | 2% of Total tax payable |
| Secondary & Higher Education Cess | 1% of Total tax payable |
Any other Resident Individual, any HUF (Hindu Undivided Family), AOP(Association of Persons), BOI (Body of Individuals), Artificial Juridical Person, NRI (non Resident Indian), RNOR (Resident but not ordinarily Resident)
| Taxable Income | Tax Payable |
| Upto Rs. 2,50,000 | NIL |
| From Rs. 2,50,001 to Rs. 5,00,000 | 5% of income above Rs. 2,50,000 |
| From Rs. 5,00,001 to Rs.10,00,000 | Rs. 12,500 + 20% of income above Rs. 5,00,000 |
| Above Rs.10,00,000 | Rs.112,500 + 30% of income above Rs.10,00,000 |
| Surcharge | NIL upto 50 lakhs, 10% above 50 lakhs, 15% above a Crore |
| Education Cess | 2% of Total tax payable |
| Secondary & Higher Education Cess | 1% of Total tax payable |
Co-operative Society
| Taxable Income | Tax Payable |
| Upto Rs.10,000 | 10% |
| From Rs.10,001 to Rs.20,000 | Rs.1,000 + 20% of income above Rs.10,000 |
| Above Rs.20,000 | Rs.3,000 + 30% of income above Rs.20,000 |
| Surcharge | NIL |
| Education Cess | 2% of Total tax payable |
| Secondary & Higher Education Cess | 1% of Total tax payable |
Local Authorities
| Taxable Income | Tax Payable |
| Tax Rate | 30% of taxable income |
| Surcharge | NIL |
| Education Cess | 2% of Total tax payable |
| Secondary & Higher Education Cess | 1% of Total tax payable |
Firms & LLPs (Limited Liability Partnerships)
| Taxable Income | Tax Payable |
| Tax Rate | 30% of taxable income |
| Surcharge | NIL |
| Education Cess | 2% of Total tax payable |
Companies
| Taxable Income | Tax Payable |
| Tax Rate | 30% of taxable income |
| Surcharge | NIL |
| Education Cess | 2% of Total tax payable |