Finance Act 2018: New Income Tax Rate For Financial Year 1-4-2018 To 31-03-2019.

Namaskar Dosto, Aaj ke is video me hum log Newly Updated Income Tax Slab Rate for Assessment Year 2019-2020 (Financial Year 2018-2019) By Finance Act 2018/ Finance Bill 2018 ko discuss karenge, Jo ki Individual, Hindu Undivided Family, Association Of Person/ AOP & Body Of Individual/ BOI ke liye hoga.
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PDF:
THE FINANCE BILL, 2018:
https://goo.gl/gMfiwF
Memorandum Explaining the Provisions in The Finance Bill, 2018:
https://goo.gl/gMfiwF

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Income Tax Slab Rate For Financial Year 2018-2019:
Part III of the First Schedule to the Bill specifies the rates at which income-tax is to be deducted at source from, or paid on, income under the head “Salaries” and also the rates at which “advance tax” is to be paid and income-tax is to be calculated or charged in special cases for the financial year 2018-2019.
Paragraph A of this Part specifies the rates of income-tax as under:—
(i) in the case of every individual [other than those specifically mentioned in sub-paras (ii) and (iii)] or Hindu undivided family or every association of persons or body of individuals, whether incorporated or not, or every artificial juridical person referred to in sub-clause (vii) of clause (31) of section 2 of the Income-tax Act, not being a case to which any other Paragraph of this Part applies:—
Up to Rs. 2,50,000 Nil
Rs. 2,50,001 to Rs. 5,00,000 5 per cent.
Rs. 5,00,001 to Rs. 10,00,000 20 per cent.
Above Rs. 10,00,000 30 per cent.;
(ii) In the case of every individual, being a resident in India, who is of the age of sixty years or more but less than the age of eighty years at any time during the previous year:—
Up to Rs. 3,00,000 Nil
Rs. 3,00,001 to Rs. 5,00,000 5 per cent.
Rs. 5,00,001 to Rs. 10,00,000 20 per cent.
Above Rs. 10,00,000 30 per cent.;
(iii) In the case of every individual, being a resident in India, who is of the age of eighty years or more at any time during the previous year:—
Up to Rs. 5,00,000 Nil
Rs. 5,00,001 to Rs. 10,00,000 20 per cent.
Above Rs. 10,00,000 30 per cent.
The surcharge in cases of persons referred to in this paragraph, having total income above fifty lakh rupees but not above one crore rupees, shall be levied at the rate of ten per cent. In cases of persons referred to in this paragraph, having total income above one crore rupees, surcharge shall be levied at the rate of fifteen per cent. Marginal relief will be provided.

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