Income Tax Slab Financial

Year: 2018-19

New:-

Budget 2018 Proposals for Assesment Year: 2019-2020

A) No Change in Income Tax Slab Financial Year: 2018-2019 & Tax Rates for Individuals

B) 3% Education Cess to be replaced with Health and Education Cess @ 4% for all taxpayers [Financial Year: 2018-2019 ( Assesment Year: 2019-2020)]

C) Long-term capital gains above Rs 1 lakh on the sale of equity shares and equity oriented mutual funds to be taxed @ 10% without giving the benefit of indexation. However, Capital gains tax for until 31 January 2018  [Financial Year: 2018-2019 ( Assesment Year: 2019-2020)] will be grandfathered

D) Corporate Tax: Benefit of Corporate tax @ 25% available for Companies with turnover up to Rs 250 Crore [Financial Year: 2018-2019 ( Assesment Year: 2019-2020)]