Income tax slab rate for FY2017-18 and AY 2018-19

Hi Friends! Recently government had announced Budget for year 2017 in which income tax slab rate which is most important for a common person is announced.
1) Income Tax Slab Rate for Individuals and HUF:
For Income Upto Rs.250000 Tax rate is Nil
For Income above Rs.250000 but upto Rs.500000 Tax rate is 5%
For Income above Rs.500000 but upto Rs.1000000 Tax rate is 20%
For Income above Rs.1000000 tax rate is 30%

2) Income Tax Slab Rate for Senior Citizens upto 60 Years of age
For Income Upto Rs.300000 Tax rate is Nil
For Income above Rs.300000 but upto Rs.500000 Tax rate is 5%
For Income above Rs.500000 but upto Rs.1000000 Tax rate is 20%
For Income above Rs.1000000 tax rate is 30%


3) Income Tax Slab Rate for Super Senior Citizens more than 60 Years of age
For Income Upto Rs.500000 Tax rate is Nil
For Income above Rs.500000 but upto Rs.1000000 Tax rate is 20%
For Income above Rs.1000000 tax rate is 30%

Watch video here (click here to watch: https://youtu.be/w3O6jrw3O2o) to know income tax slab rate for fy 2017-18 and ay 2018-19 for individuals (men, women and senior citizen) and HUF.

There is some taxes on Tax which are:
Education cess 2%
Secondary Higher Education cess1%

In case of Higher salary person there is a provision of surcharge which is:
In case income above Rs.50 Lakh but upto Rs.1 Crores sucharge is 10%
In case income above Rs.1 Crores surcharge is 15%

In case of income upto Rs.3.5 Lakhs rebate of Rs.2500 will be eligible on tax.


In case you want to know how to calculate Income tax than click below to watch:-
https://www.youtube.com/watch?v=sfmspTiz7wk

In case you want to know how to fill ITR 1 than click below to watch:
https://www.youtube.com/watch?v=_5hAY0hywzQ

Thanks
Cheers!

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