Online Income Tax Calculator for Financial Year 2018-19 (Assessment Year 2019-20). Online IT calculator from Insurance Funda is an easy online solution to calculate your tax liability in simple steps. Provide your details like Age, Income details, exemptions etc. and get a detailed Income Tax calculation.
If you want to calculate your tax liability for any previous years, Click the links below.
Income Tax Calculator for Financial Year 2018-19 (Assessment Year 2019-20)
Income Tax Slabs for Financial Year 2018-19 (Assessment Year 2019-20)
For your information I am providing the latest tax slabs for the current financial year.
| Income Tax Slabs And Rates (FY – 2018-19) (AY 2019-20) www.insurancefunda.in | |||
|---|---|---|---|
| Income | Up to 59 years of age | 60 to 79 years of age | Age 80 and above |
| 0 – 2.5 lakhs | Nil | Nil | Nil |
| 2.5 – 3 lakhs | 5% of income above 2.5 lakhs | Nil | Nil |
| 3 – 5 lakhs | 2500 + 5% of income above 3 lakhs | 5% of Income above 3 lakhs | Nil |
| 5 – 10 lakhs | 12500 + 20% of income above 5 lakhs | 10000 + 20% of income above 5 lakhs | 20% of income above 5 lakhs |
| Above 10 lakh | 112500 + 30% of income above 10 lakhs | 110000 + 30% of income above 10 lakhs | 100000 + 30% of income above 10 lakhs |
| If income is above 50 lakhs 10 % of tax as surcharge | |||
| If income is above 1 crore 15 % of tax as surcharge | |||
| Educational Cess at the rate of 4% has to be paid on tax + surcharge | |||
Read More:
Income Tax Returns e-filing – Salaried Employees Guide.