The latest income tax rate applicable for financial year 2018-19 (assessment year 2019-20)

The latest income tax rate applicable for financial year 2018-19 (assessment year 2019-20) are given below. These slabs and tax rates are as amended by Finance Act

In fact, Budget 2018 only increased total cess on income tax to 4% but made no change in the existing tax slabs.

The basic exemption limit for an individual depends on his/her age as well as his/her residential status.

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