Income Tax Rates Financial Year (FY) 2018-19-Assessment Year(AY)2019-20,List of deductions allowed for salaried persons from salary fy 2018-19

Income Tax Rates Financial Year (FY) 2018-19-Assessment Year(AY)2019-20 as proposed in budget 2018.
No change in Tax rates and basic excemption limit.
Existing Education cess 3% to be replaced by "Health and Education Cess" at 4% of income tax including surcharge.

Proposed Income Tax Rates
(i)(Resident or Non-Resident) or HUF or Association of Person or Body of Individual or any other artificial juridical person
Upto Rs. 2,50,000	Nil.
Rs. 2,50,001 to Rs. 5,00,000	5%
Rs. 5,00,001 to Rs. 10,00,000	20%
Above Rs. 10,00,000	30%
(ii)Senior Citizens age 60 yrs to less than 80 yrs
Upto Rs. 3,00,000	Nil.
Rs. 3,00,001 to Rs. 5,00,000	5%
Rs. 5,00,001 to Rs.10,00,000	20%
Above Rs. 10,00,000	30%
(ii)Senior Citizens age 80 yrs and above.
Upto Rs. 5,00,000	Nil.
Rs. 5,00,001 to Rs. 10,00,000	20%
Above Rs. 10,00,000	30%

Notes :

a) Surcharge:

i) The amount of income-tax shall be increased by a surcharge at the rate of 10% of such tax, where total income exceeds fifty lakh rupees but does not exceed one crore rupees. However, the surcharge shall be subject to marginal relief (where income exceeds fifty lakh rupees, the total amount payable as income-tax and surcharge shall not exceed total amount payable as income-tax on total income of fifty lakh rupees by more than the amount of income that exceeds fifty lakh rupees).
ii) The amount of income-tax shall be increased by a surcharge at the rate of 15% of such tax, where total income exceeds one crore rupees. However, the surcharge shall be subject to marginal relief (where income exceeds one crore rupees, the total amount payable as income-tax and surcharge shall not exceed total amount payable as income-tax on total income of one crore rupees by more than the amount of income that exceeds one crore rupees).

Details of deductions allowed from salary for -FY 2018-19.
Income Tax Calculator FY 2017-18	Income Tax Calculator FY 2016-17
Income Tax Rates-FY 2017-18.	Income Tax Rates-FY 2016-17.

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