Income Tax Rates for Assessment Year 2018-2019

Each Year Income Tax rates are changed through Annual Finance Act. Finance Act contains 4 parts.

Part I – It provides the applicable rates for current Assessment Year.

Part II – It provides the rate at which TDS is deductible at source for Current Financial Year.

Part III – It provides for the rates for calculating income-tax for income chargeable under the head “Salaries” and computation of advance-tax.

Part IV – Gives rules for computing net agricultural income.