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Rates of Income Tax for the Assessment Year 2019-20
(Financial Year 2018-19)
Taxable Income Tax Rate
Up to 290000 * NIL
290001 500000 5%
500001 1000000 20%
Above 1000000 30%
Education Cess 4%
*For Senior Citizen (60-79) Up to Rs . 300000 Tax NIL
For Super Senior Citizen (above 79) Up to Rs . 500000 Tax NIL
Section Item Rebate
16(iii) Profession Tax Actual
Interest on Housing Loan
200000
80C Housing Loan (Principal) 150000
LIC premia of Self – Spouse & Childrens
PPF of Self – Spouse & Childrens
NSC VIII issue
SLI ,GIS ,FBS
5 Year Term Deposit in Scheduled Bank / Post Office
Tuition Fee for Full Time Course of 2 Childrens within India
ULIP of UTI /LIC of Self – Spouse & Childrens
Tax Saving Bond /Mutual Fund
Equity Share / Debenture of an eligible issue
Sukanya Samridhi Yojana Deposit 150000
80CCC Annuity Pan of LIC
150000
80CCD(1) National Pension Scheme
150000
Total Eligible Deduction under 80C , 80CCC , 80CCD(1) shall not exceed Rs 150000
80CCD(1B) New Pension Scheme
50000
80CCG Notified Equity Saving Scheme (RGESS) (for Rs 50000)
25000
80D(1) Mediclaim of Self
25000
80D(2) Mediclaim of Spouse , Childrens & Parents
50000
80DD Treatment of Mentally or Physically Handicapped dependants
75000/125000
80DDB Treatment of Self , Spouse & Children for Specified Diseases
40000
80E Interest on Higher Education Loan
80G Donations to charitable Institutions & Notified Funds
80GGC Donations to Political Parties
80TTA Interest on Bank Deposit
10000
80U Rebate for Disabled Employees
75000/125000
u/s 87A Special Rebate (if Income is Below Rs. 350000)
2500

Rates of Income Tax for the Assessment Year 2018-19
(Financial Year 2017-18)
Taxable Income Tax Rate
Up to           250000 * NIL
250001       500000 5%
500001     1000000 20%
Above        1000000 30%
Education Cess    3%
*For Senior Citizen                (60-79) Up to Rs . 300000 Tax NIL
 For Super Senior Citizen (above 79) Up to Rs . 500000 Tax NIL
Section Item Rebate
16(iii) Profession Tax  Actual
Interest on Housing Loan
200000
80C Housing Loan (Principal)  150000
LIC premia of Self – Spouse & Childrens  
PPF of Self – Spouse & Childrens
NSC VIII issue
SLI ,GIS ,FBS
5 Year Term Deposit in Scheduled Bank / Post Office
Tuition Fee for Full Time Course of 2 Childrens within India
ULIP of UTI /LIC of Self – Spouse & Childrens
Tax Saving Bond /Mutual Fund
Equity Share / Debenture of an eligible issue
Sukanya Samridhi Yojana Deposit 150000
80CCC Annuity Pan of LIC
150000
80CCD(1) National Pension Scheme
150000
Total Eligible Deduction under 80C , 80CCC , 80CCD(1) shall not exceed Rs 150000
80CCD(1B) New Pension Scheme
50000
80CCG Notified Equity Saving Scheme (RGESS) (for Rs 50000)
25000
80D(1) Mediclaim of Self
25000
80D(2) Mediclaim of Spouse , Childrens & Parents
50000
80DD Treatment of Mentally or Physically Handicapped dependants
75000/125000
80DDB Treatment of Self , Spouse & Children for Specified Diseases
40000
80E Interest on Higher Education Loan
80G Donations to charitable Institutions & Notified Funds
80GGC Donations to Political Parties
80TTA Interest on Bank Deposit
10000
80U Rebate for Disabled Employees
75000/125000
u/s 87A Special Rebate (if Income is Below Rs. 350000)
2500

                             Rates of Income Tax for the Assessment Year 2017-18
                                                     (Financial Year 2016-17)
Taxable Income Tax Rate
Up to              250000 * NIL
250001          500000 10%
500001        1000000 20%
Above           1000000 30%
                                                    Education Cess 3%
                      *For Senior Citizen (60-79) Up to Rs . 300000 Tax NIL
              For Super Senior Citizen (above 79) Up to Rs. 500000 Tax NIL
Section Item Rebate
16(iii) Profession Tax
Interest on Housing Loan
200000
80C Housing Loan (Principal)  
  LIC premia of Self – Spouse & Childrens  
  PPF of Self – Spouse & Childrens  
  NSC VIII issue  
  SLI ,GIS ,FBS  
  5 Year Term Deposit in Scheduled Bank / Post Office  
  Tuition Fee for Full Time Course of 2 Childrens within India  
  ULIP of UTI /LIC of Self – Spouse & Childrens  
  Tax Saving Bond /Mutual Fund  
  Equity Share / Debenture of an eligible issue  
  Sukanya Samridhi Yojana Deposit 150000
80CCC Annuity Pan of LIC
150000
80CCD(1) National Pension Scheme
150000
                                 Total Eligible Deduction under 80C , 80CCC , 80CCD(1) shall not exceed Rs 150000
80CCD(1B) New Pension Scheme
50000
80CCG Notified Equity Saving Scheme (RGESS)  (for Rs 50000)
25000
80D(1) Mediclaim of Self
25000
80D(2) Mediclaim of  Spouse , Childrens &  Parents
50000
80DD Treatment of Mentally or Physically Handicapped dependants
75000/125000
80DDB Treatment of Self , Spouse & Children for Specified Diseases
40000
80E Interest on Higher Education Loan
80G Donations to charitable Institutions & Notified Funds
80GGC Donations to Political Parties
80TTA Interest on Bank Deposit
10000
80U Rebate for Disabled Employees
75000/125000
u/s 87A Special Rebate                    (if Income is Below Rs. 500000)
5000

Income Tax for Financial Year 2015-2016 (Assessment Year 2016-2017)

Up to 250000 NIL
250001 to 500000 10%
500001 to 1000000 20%
Above 1000000 30%
Education Cess 3%
Interest on Housing Loan(If the Property is Acquired or Constructed on or after 01.04.1999 & such Acquisition is completed within 3 Years from the end of Financial Year in which Capital is Borrowed) 30000
200000
u/s 87 A Special Rebate (If Income is below 500000) 2000
80C Deductions:
1.Repayment of Housing Loan (Principal)2.LIC Premia of Self,Spouse & Children.3.Contribution to PPF of Self,Spouse & Children4.NSC 8 issue5.SLI,GIS,FBS6.5 Year Term Deposit in Scheduled Bank/ Post Office

7.Tuition Fee for Full Time Course of 2 Children within India

8.ULIP of UTI / LIC of Self,Spouse & Children

9.Tax Saving Bond / Mutual Fund

10.Equity Share / Debenture of an eligible issue

11.Contribution to Sukanya Samridhi Yojana Deposit

12.Any other deduction under 80C

13.80CCC Purchase of Annuity Plan of LIC

14.80CCD(1) National Pension Scheme

Total Eligible Deduction under 80C,80CCC,80CCD(1)

150000
80CCD(1B) New Pension Scheme 50000
80CCG Notified Equity Saving Scheme (RGESS) (for Deposit of 50000) 25000
80D (1) Mediclaim of Self 25000
80D (2) Mediclaim of Spouse, Children & Parents 50000
80DD Treatment for Mentally or PhysicallyHandicapped dependants 75000/125000
80DDB Treatment of Self,Spouse& Children for Specified Diseases 40000
80E Interest on Higher Education Loan
80G Donations to Charitable institutions & Notified Funds
80GGC Donations to Political Parties
80TTA Interest on Bank Deposit 10000
80U Rebate for Disabled Employees 75000
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