New Income
Tax Slabs for A.Y. 2018-19 for
:-
3. Very
Senior Citizen (Age of 80 years and above)
Rebate of Income-Tax under Section 87A
As per the Budget, the rebate u/s 87A shall be available only to the individuals whose Total Income in the A.Y. 2018-19 does not exceed Rs. 3,50,000/- and the maximum amount of rebate available has been reduced from Rs. 5,000/- to Rs. 2,500/-.
1. Individuals (both Men
and Women other than senior citizen and very senior citizen), HUF, BOI, AOP,
Artificial Judicial person (other than society, local authority)
Income Range
|
Tax Rate
|
|
1
|
Up to Rs 2,50,000
|
Exempt
|
2
|
2,50,001 to 5,00,000
|
5%
|
3
|
5,00,001 to 10,00,000
|
20%
|
4
|
Above 10,00,000
|
30%
|
2. Senior Citizen (Age from 60
years but less than 80 years)
Income Range
|
Tax Rate
|
|
1
|
Up to Rs 3,00,000
|
Exempt
|
2
|
3,00,001 to 5,00,000
|
5%
|
3
|
5,00,001 to 10,00,000
|
20%
|
4
|
Above 10,00,000
|
30%
|
Income Range
|
Tax Rate
|
|
1
|
Up to Rs 5,00,000
|
Exempt
|
2
|
5,00,001 to 10,00,000
|
20%
|
3
|
Above 10,00,000
|
30%
|
Rebate of Income-Tax under Section 87A
As per the Budget, the rebate u/s 87A shall be available only to the individuals whose Total Income in the A.Y. 2018-19 does not exceed Rs. 3,50,000/- and the maximum amount of rebate available has been reduced from Rs. 5,000/- to Rs. 2,500/-.
