Income Tax Slabs for FY 2017-18 and AY 2018-19 in India

A practical reference to income tax rates for individuals, senior citizens, Hindu Undivided Families (HUFs), partnership firms, companies and cooperative societies for financial year 2017-18 (assessment year 2018-19).

Last reviewed: 23 October 2026 | Historical tax year: 1 April 2017 to 31 March 2018

Income tax slabs for individuals and HUFs: FY 2017-18

The following slabs applied to ordinary taxable income for AY 2018-19. Special-rate income, such as certain capital gains, was taxed separately under applicable provisions.

Individuals below 60 years and HUFs

Resident senior citizens aged 60 to below 80

Resident super senior citizens aged 80 or above

The age-based higher basic exemption limits applied to resident individuals meeting the age criteria, not automatically to non-residents. An HUF used the general slab.

Business income tax rates: FY 2017-18

Domestic companies

For AY 2018-19, a domestic company with turnover or gross receipts not exceeding Rs. 50 crore in FY 2015-16 generally qualified for the 25% corporate tax rate; other domestic companies generally paid 30%. The threshold referred to an earlier year's turnover, not to current-year taxable income. Foreign companies generally faced a 40% base rate, subject to relevant provisions and treaties.

Domestic company surcharge was generally 7% when total income exceeded Rs. 1 crore but did not exceed Rs. 10 crore, and 12% above Rs. 10 crore. Foreign-company surcharge was generally 2% and 5%, respectively. Marginal relief could apply. Minimum Alternate Tax under section 115JB could also be relevant.

Partnership firms and LLPs

Partnership firms, including LLPs, were generally taxed at 30% on taxable income. A 12% surcharge applied where total income exceeded Rs. 1 crore, subject to marginal relief. Alternate Minimum Tax provisions could apply in relevant cases.

Cooperative societies

A cooperative society generally faced a 12% surcharge where total income exceeded Rs. 1 crore, subject to applicable marginal relief. The historical table is corrected to start the 30% band above Rs. 20,000.

BOIs, AOPs and trusts

An Association of Persons (AOP) or Body of Individuals (BOI) could be taxed under the applicable individual slab or at the maximum marginal rate depending on members' shares and the conditions in section 167B. Trust taxation depends on whether the trust is charitable, discretionary or otherwise and on the applicable provisions, including sections 11 to 13 and 164. A universal company or individual rate should not be assumed for every trust.

Surcharge, education cess and section 87A rebate

For FY 2017-18, individuals, HUFs, AOPs and BOIs generally faced a 10% surcharge where total income exceeded Rs. 50 lakh but did not exceed Rs. 1 crore, and 15% above Rs. 1 crore, subject to marginal relief.

Education cess: Education Cess at 2% and Secondary and Higher Education Cess at 1% were charged on income tax plus surcharge, making 3% in total. The later 4% Health and Education Cess did not apply to AY 2018-19.

Section 87A: A resident individual with total income not exceeding Rs. 3,50,000 could claim a rebate of up to Rs. 2,500 (limited to income tax payable), subject to statutory conditions. This was not an extra slab or deduction from taxable income.

Relevant legal provisions: Section 4 imposes income tax; section 5 defines the scope of total income; section 6 covers residential status; section 87A governs eligible rebates; and the Finance Act, 2017 prescribed the applicable rates and surcharge for AY 2018-19.

How these historical rates differ from later tax years

India subsequently introduced an optional concessional regime under section 115BAC, revised slabs and rebates, and changed corporate tax options. For FY 2025-26 (AY 2026-27), the default new-regime slabs for eligible individuals run from nil up to Rs. 4 lakh, then 5%, 10%, 15%, 20%, 25% and 30% across successive bands; the old regime remains an option subject to eligibility and election rules. The FY 2017-18 tables above must not be used to calculate tax for FY 2025-26 or later.

The Income-tax Act, 2025 took effect on 1 April 2026 for the tax years governed by its commencement and transition provisions. It does not retrospectively replace the rates applicable to FY 2017-18. For current filing, use the statute and official guidance applicable to the particular tax year.

Official legislation and tax guidance

• Income Tax Department e-Filing Portal - return filing, calculators and taxpayer services.
• Income Tax Act, 1961 - official legislative reference.
• Finance Acts - official archive (including Finance Act, 2017).
• India Code - central legislation and amendments.
• Income tax return guidance for individuals.

This page is an informational historical tax reference. Actual tax liability may differ because of exemptions, deductions, special rates, residential status, treaties, surcharge, marginal relief and amendments applicable to the relevant year.