Income Tax Slabs History in India

We all hate paying taxes, but like death taxes too are unavoidable! You may not know this but not very long ago (FY 1991-92) the minimum tax rate in India was 20% and the maximum 56%. So if you were in highest tax slab, you would more than half of your income to government, giving great incentive for not complying with tax laws and not to earn more!

Thankfully taxes have been bit rationalized, Now the high earners only need to pay one-third of their income as taxes (still high but seems low when compared historically)!

Below is the table showing the following since FY 1990-91:

  • Minimum Income for Tax
  • Lowest Tax Rate
  • Income at Which Highest Tax Rate Starts
  • Highest Tax Rate
  • Highest Tax Rate Including Surcharge

History of Income Tax Slabs in India

Financial Year Minimum Income for Tax Lowest Tax Rate Income at which Highest Tax Rate Starts Highest Tax Rate Highest Tax Including Surcharge
1990 – 91 22,000 20% 100,000 50% 56.00%
1991 – 92 22,000 20% 100,000 50% 56.00%
1992 – 93 28,000 20% 100,000 40% 44.80%
1993 – 94 30,000 20% 100,000 40% 44.80%
1994 – 95 35,000 20% 120,000 40% 44.80%
1995 – 96 40,000 20% 120,000 40% 40.00%
1996 – 97 40,000 20% 120,000 40% 40.00%
1997 – 98 40,000 10% 150,000 30% 30.00%
1998 – 99 50,000 10% 150,000 30% 33.00%
1999 – 00 50,000 10% 150,000 30% 34.50%
2000 – 01 50,000 10% 150,000 30% 30.60%
2001 – 02 50,000 10% 150,000 30% 31.50%
2002 – 03 50,000 10% 150,000 30% 33.00%
2003 – 04 50,000 10% 150,000 30% 33.60%
2004 – 05 50,000 10% 150,000 30% 33.60%
2005 – 06 50,000 10% 150,000 30% 33.60%
2006 – 07 50,000 10% 150,000 30% 33.60%
2007 – 08 110,000 10% 250,000 30% 33.90%
2008 – 09 110,000 10% 250,000 30% 33.90%
2009 – 10 160,000 10% 500,000 30% 33.90%
2010 – 11 160,000 10% 500,000 30% 30.90%
2011 – 12 180,000 10% 800,000 30% 30.90%
2012 – 13 200,000 10% 1,000,000 30% 30.90%
2013 – 14 200,000 10% 1,000,000 30% 33.99%
2014 – 15 250,000 10% 1,000,000 30% 33.99%
2015 – 16 250,000 10% 1,000,000 30% 34.61%
2016 – 17 250,000 10% 1,000,000 30% 35.54%
2017 – 18 250,000 5% 1,000,000 30% 35.54%
2018 – 19 250,000 5% 1,000,000 30% 35.88%
2019-20 250,000 5% 1,000,000 30% 35.88%

The important points to note are:

    1. Highest Tax Rate Including Surcharge has come down from 56% in FY 1990-91 to 30.9% since 2010-11 and has again gone up from FY 2013-14 (for income above Rs 1 Crore)
    1. The exemption limit for Income Tax has also increased more than 10 times from Rs. 22,000 in 1990-91 to Rs. 2.5 Lakhs in FY 2014-15
  1. Even the lowest tax rate has gone down from 20% to 5%

Download: Free ebook for Income Tax Planning for FY 2019-20

Below are recent detailed tax slabs for recent years:

Income Tax Slab for FY 2019-20

Budget 2019 - Income Tax Slabs for FY 2019-20

Budget 2019 – Income Tax Slabs for FY 2019-20

Income Tax Slab for FY 2018-19

Budget 2018 - Income Tax Slabs for FY 2018-19

Income Tax Slabs for FY 2018-19 (AY 2019-20)

Income Tax Slab for FY 2017-18

Income Tax Slab for FY 2017–18 [AY 2018-19]

Income Tax Slab for FY 2017–18 [AY 2018-19]

Income Tax Slab for FY 2016-17

Income Tax Slabs for FY 2016–17 [AY 2017-18]

Income Tax Slabs for FY 2016–17 [AY 2017-18]

Income Tax Slab for FY 2015-16

Income Tax Slab for FY 2015-16 (AY 2016-17)

Income Tax Slab for FY 2015-16 (AY 2016-17)

Income Tax Slab for FY 2014-15

Income Tax Slab for FY 2014-15 (AY 2015-16)

Income Tax Slab for FY 2014-15 (AY 2015-16)

Income Tax Slab for FY 2013-14

Income Tax Slab for FY 2013-14

Income Tax Slab for FY 2013-14 (AY 2014-15)

Income Tax Slab for FY 2012-13

Income Tax Slab for FY 2012-13

Income Tax Slab for FY 2012-13 (AY 2013-14)

Income Tax Slab for FY 2011-12

Income Tax Slab for FY 2011-12

Income Tax Slab for FY 2011-12 (AY 2012-13)





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