As per the Assessment Year 2018-19

S.No	TOTAL INCOME (Rs)	Income Tax Rate
(i)	Upto 2,50,000	Nil
(ii)	2,50,001 - 5,00,000	5%
(iii)	5,00,001 - 10,00,000	20%
(iv)	Above 10,00,000	30%

80C Deductions:
Contribution to Provident Fund, Life Insurance Premium, Children's Tuition Fees, Health Insurance Premium; Investment in National Savings Certificate, interest paid for home loans, etc.,

Income Tax is applicable throughout India including the State of Jammu and Kashmir.

A Tax is a mandatory financial charges or some other type of levy imposed upon a tax payer by a governmental organisation in order to fund various public expenditure.

The revenue earned through tax is utilised for the expenses of civil administration, internal and external security, building infrastructure etc.

Tax is a compulsory contribution to state revenue by the Government. It is levied on the income or profits from business of individuals and institutions.

(i) Contribution to provident fund
(ii) Life insurance premium
(iii) Children's tuition fees
(iv) Repayment of housing loan principal.

The Income Tax Act define the term income and it includes salary income, house property income, business / profession income, capital gain and other sources of income.

(i) Income tax is a direct tax because the liability to deposit and ultimate burden are on same person.
(ii) The person earning income is liable to pay income tax out of his own pocket and cannot pass on the burden of tax to another person.

The term 'person' includes the following:
(i) An individual
(ii) A Hindu Undivided Family (HUF)
(iii) A Company
(iv) A Firm
(v) An Association of Persons or a Body of Individual, whether incorporated or not
(vi) A local authority, and
(vii) Every artificial, juridical person E,g. an idol or deity