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of <h1>Finance Bill 2018 Sets New Tax Rates, Introduces 4% Health and Education Cess, Adjusts Income Slabs for Seniors</h1> The Finance Bill, 2018 outlines the income tax rates for the assessment year 2018-2019. It specifies the tax rates applicable to various categories of taxpayers, including individuals, Hindu undivided families, companies, and non-residents. The Bill also details the surcharge rates applicable based on income thresholds, with additional levies for higher income brackets. For individuals over 60 and 80 years, different income slabs apply. Tax deductions at source and advance tax payments are also addressed, with specific rates for different types of income. The Bill introduces a 'Health and Education Cess' at 4% while discontinuing previous education cesses.
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