According to the latest Union Budget 2017 Updates, the Slab Rates of Income Tax in India for the Assessment Year 2018-19 (Financial Year 2017-18) are changed when compared to AY 2016-17 (FY 2015-16) Income Tax Slabs. Income tax slab rates for AY 2018-19 and FY 2017-18 has been changed. The present Income tax slabs for AY 2018-19 will be increased, and new Income tax slabs will be brought under effect by the Modi Government. Due to the massive inflow of cash in Demonetisation, Income Tax Slab Rates for AY 2018-19 and FY 2017-18 have been increased. Your income from business, salary or other income from fixed/recurring deposits, etc. are taxed as per Income Tax Slabs FY 2017-18 and AY 2018-19 in India. Check out Income Tax Slab Rate AY 2018-19 in the following sections.
Income Tax Slab Rates
Check the Slab rates for AY 2018-19 and FY 2017-18, TDS rates, Depreciation rates, and other Income Tax rates below. Income Tax Slab Rates for FY 2017-18 (AY 2018-19) are changed as per the Union Budget 2017-18.
|Income Tax Slab Rates for AY 2018-19||Union Budget 2017|
|Income Tax Slab rates for AY 2017-18||TDS Rates|
|Income Tax Slab rates for AY 2016-17||Depreciation Rates|
|Income Tax Slab rates for AY 2015-16||Other Income Tax Rates|
Information on Income Tax
Income Tax is levied (imposed) annually on both earned income (salaries, wages, commission) and unearned income (interest, dividends, rents). This is imposed on anybody who earns income in India, whether Resident or Non-resident. To give you more knowledge on Income Tax, here we are providing the user-friendly information on Income Tax Overview, Heads of Income, Deductions allowable from Gross Total Income, About PAN card, TDS/TCS, Relevant Forms, IT return filing, etc.
Information on Income Tax for Non-resident
In the case of a non-resident, income tax is charged only on incomes received in India or which are deemed (considered) to be received in India. If an individual stays in India for less than 182 days he/she is a non-resident. The more information regarding non-residents is as follows.
|Determination of Residential Status of an Individual|
|Income Tax Benefits to Non-Residents|
|DTAA – Tax Rates as per DTAA and IT Act|
|Taxability for Non-Resident|
Income Tax Online Services – Forms
You can utilize many online services regarding Income Tax. You can file Income Tax return through online, pay income tax online, View 26AS (Tax Credit Statement) online, etc. Some of them are as follows.
|Income Tax eFiling|
|e-Payment of Income Tax|
|Income Tax Form 26AS – eFiling|
The state govt levies the professional tax on income from profession or employment. The complete details regarding Professional Tax in India are given below. Also, find the Professional Tax Slab rates in the below table.
|Professional Tax in India|
|Professional Tax Slab Rates|
Assessee needs to pay the Income tax below the corresponding due dates provided below. Also, get information about Budget Impact 2016-17, Finance Bill 2016 and Union Budget 2016-17.
|Finance Bill 2016||Income Tax Due Dates 2016 – Calender|
|Budget Impact 2016-17||Union Budget 2016-17|