Income Tax Slab 2019-20

 Tax Rates for an Individuals for the AY 2019-20:

Tax Rates for Individuals
Income		Rates of Income Tax
		Individual (Age less than 60 Years)	Senior Citizen (Age above 60 Years)	Super Senior Citizen (Age above 80 Years)
1.	Up to Rs. 2,50,000	Nil	Nil	Nil
2.	Rs. 2,50,000 to Rs. 3,00,000	5%	Nil	Nil
3.	Rs. 3,00,000 to Rs. 5,00,000	5%	5%	Nil
4.	Rs. 5,00,000 to Rs. 10,00,000	20%	20%	20%
5.	Above Rs. 10,00,000	30%	30%	30%

Tax Rates for Corporate Assessee for the A.Y. 2019-20:

Tax Rates* for Corporate Assessee for the A.Y. 2019-20
Status of Taxpayer		Rates of income-tax
1.	Firms/Local Authority	30%
2.	Domestic Company	30%/25% #
3	Foreign Company	40%
# Tax rate is 25% if turnover or gross receipts of the domestic company in the previous year 2016-17 doesn't exceed Rs. 250 crore

The above rates are exclusive of surcharge and cess.

 Tax Rates* for Co-operatives Societies for the A.Y. 2019-20:

Tax Rates* for Co-operatives Societies for the A.Y. 2019-20
Income		Rates of income-tax
1.	Up to Rs. 10,000	10%
2.	Rs.10,000 – Rs.20,000	20%
3	Above Rs. 20,000	30%

*The above rates are exclusive of surcharge and cess.

 Rates of Surcharge:

Rates of Surcharge
Particulars		Taxable Income
		50 Lacs to 1 Crore	1 Crore to 10 Crores	Exceeding 10 Crores
1.	Individuals/HUF	10%	15%	15%
2.	Firm/ Local Authority/ Co-operative Society	Nil	12%	12%
3.	Domestic Company	Nil	7%	12%
4.	Foreign Company	Nil	2%	5%
5.	Co-operative Societies	Nil	12%	12%

* The health &education cess at the rate of 4% shall be computed on aggregate of Income-Tax and Surcharge.