INCOME TAX SLAB FOR AY 2019-20:

* INCOME TAX SLAB FOR AY 2019-20: 

Resident Individuals & Non-Resident Indians
Income Threshold
Tax rate applicable
Up to ₹ 2,50,000
NIL
₹ 2,50,000 to ₹ 5,00,000
5%
₹ 5,00,000 to ₹ 10,00,000
20%
Over ₹ 10,00,000
30%

Additional Components
  1. Surcharge: In case income is more than ₹ 50 lakhs and less than ₹ 1 crore, the surcharge is applicable at a rate of 10% of the income tax. For income, more than ₹ 1 crore, a surcharge of 15% is applicable on income tax on the amount exceeding ₹ 1 crore.


  2. Health and Education Cess: “Education Cess” and “Secondary and Higher Education Cess” will be replaced by “Health and Education Cess” at the rate of 4%, on the amount of tax computed, inclusive of surcharge.
Rebate in U/S 87A: 100% tax rebate subject to maximum of Rs. 2,500 available to resident individual whose net taxable income does not exceed Rs. 3.5 lakhs.


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