Income Tax Rates for Senior Citizens Financial Year 2017-18 (Assessment Year 2018-19)

Income tax rate for Senior citizens between 60 to 80 years. If income of Senior citizen lies between 50 Lakhs to 1 Crore than 10% surcharge to be levied.

Income Tax rate for Senior citizen between 60-80 years:

Income Tax Slab Rate AY 2018-19 (FY 2017-18)
Income Tax Slab Income Tax Rate
Income upto Rs. 3,00,000 Nil
Income between Rs. 3,00,001 – Rs. 500,000 5% of Income exceeding Rs. 3,00,000
Income between Rs. 500,001 – Rs. 10,00,000 20% of Income exceeding Rs. 5,00,000
Income above Rs. 10,00,000 30% of Income exceeding Rs. 10,00,000