INCOME TAX SLAB AY 2019-20
INCOME TAX RATES AY 2019-20/FY 2018-19 – INDIVIDUALS LESS THAN 60 YEARS OLD
| Taxable Income | Tax Rate |
| Upto Rs. 2,50,000 | Nil |
| Rs. 2,50,000 to Rs.5,00,000 | 5% |
| Rs.5,00,000 to Rs.10,00,000 | 20% |
| Above Rs. 10,00,000 | 30% |
INCOME TAX RATES AY 2019-20/FY 2018-19 – INDIVIDUALS BETWEEN 60 YEARS AND 80 YEARS OLD
| Taxable Income | Tax Rate |
| Upto Rs. 3,00,000 | Nil |
| Rs. 3,00,000 to Rs.5,00,000 | 5% |
| Rs.5,00,000 to Rs.10,00,000 | 20% |
| Above Rs. 10,00,000 | 30% |
INCOME TAX RATES AY 2019-20/FY 2018-19 – INDIVIDUALS ABOVE 80 YEARS OLD
| Taxable Income | Tax Rate |
| Upto Rs. 5,00,000 | Nil |
| Rs.5,00,000 to Rs.10,00,000 | 20% |
| Above Rs. 10,00,000 | 30% |
INCOME TAX RATES FOR AY 2019-20/FY 2018-19 FOR PARTNERSHIP, LIMITED LIABILITY PARTNERSHIP (LLP) AND LOCAL AUTHORITY
For the Assessment year 2019-20, firms, LLP, Local Authority profits are taxable at the rate of 30%.
INCOME TAX RATES FOR AY 2019-20/FY 2018-19 FOR DOMESTIC COMPANY AND FOREIGN COMPANY
| Turnover or Gross Receipts | Tax Rate |
| Turnover or Gross Receipts does not exceed 250 crores in FY 2016-17 | 25% |
| Turnover or Gross Receipts does exceed 250 crores in FY 2016-17 | 30% |
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