Income tax slab for year 2018-2019, Income Tax, F.Y. For full details of the PDF file 2018-19

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Income Tax, F.Y. For full details of the PDF file 2018-19

Slab is deducted from the income tax threshold table which is applicable to a specific tax rate in advance and the various deduction rates are applicable. In order to better understand the functioning of income slabs, the first person has to understand the important elements as per the tax slab is decided.

Income tax slab for year 2018-2019
According to the 2018 Union Budget, according to different slabs in which income tax has been assessed different categories are shown below

Resident and non-resident Indians

Applicable income threshold tax rate :

  •  up to Nil up to 2,50,000
  •  2,50,000 to 5,00,000 5%
  •  5,00,000 to ₹ 10,00,000 20%
  •  30% more than 10.00,000

Important changes in income tax FY 2018-2019 slab

Changes in this fiscal year has made some changes in financial year 2018-2019. Let's look at the changes coming this fiscal 2018-2019

LTCG tax on capital investment: Stock market in long-term investment on the biggest change in capital gains tax revenues this fiscal year will be implemented

Standard Deductions: Budget announced a standard deduction of Rs 40,000 for salaried employees, but 19.200 has been deducted from tax-free medical returns and annual alignment of Rs.15,000. Rs. The difference of 5,800 is decreasing.

Exemption limit for senior citizens: The exemption limit for interest income above 60 years has increased five times, from Rs 10,000 to Rs. 50,000 per year. All deposits made by senior people in both banks and cooperative banks and post offices will be eligible for this exemption

Education income tax increase: As a result of income tax, the taxpayers coming in a high tax slab will be effective from 30 to 4% 4% increased by 3 %% to 31.2%. For middle income tax payers, it will increase from current 20% to 20.8%; And for low-class people, liability will increase from 5% to 5.2%

Income tax and tariff slabs for the financial year 2018-19
·         With no tax for people with income of less than 2,50,000
·         0% -5% tax with income ranging from 2.5 lakh to 5 lakh for different age groups
·         With 20% tax with income of 5 lakh to 10 lakh
·         Under Sector 80C, investments of up to 1.5 lakhs can save 8,6,800 Invest in now

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