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Rates
of Income Tax
Assessment
year : 2019 -20
Previous year : 2018 - 19 |
| 1.
For resident Senior Citizens. (Age above 60 Years) |
| Up
to Rs 3,00,000 |
Nil |
| Rs.
3,00,001 to Rs. 5,00,000 |
5% |
| Rs.
5,00,001 to Rs. 10,00,000 |
20% |
| Above
Rs. 10,00,000 |
30% |
|
| 2.
For resident Super Senior Citizens. (Age above 80 Years) |
| Up
to Rs 5,00,000 |
Nil |
| Rs.
5,00,001 to Rs. 10,00,000 |
20% |
| Above
Rs. 10,00,000 |
30% |
|
| 3.
Individuals, [other than those mentioned above, HUF, AOP/BOI (other than
co-operative societies). |
| Upto
Rs. 2,50,000 |
Nil |
| Rs.
2,50,001 to Rs. 5,00,000 |
5% |
| Rs.
5,00,001 to Rs 10,00,000 |
20% |
| Above
Rs. 10,00,000 |
30% |
|
| Note:
Rebate u/s 87A is added from Finance Act 2017, in which resident
individuals are allowed rebate (if their taxable income does not exceed
Rs. 3.5 lakh) equal to 100% of income tax or Rs. 2,500 whichever less. |
|
Surcharge :
10% for Individual having taxable Income exceeding 50 Lacs
upto 1 Crore
15% for Individual having taxable Income exceeding 1 Crore
Health and Education Cess: 4% on the amount of Tax plus surcharge
Short-Term Capital Gains u/s 111A:15% on income-tax plus surcharge. |
| Firms |
|
Income tax : 30%.
Surcharge : 12% of the Income
Tax, where total taxable income is more than Rs. 1 crore.
Health and Education Cess: 4% on the amount of Tax plus surcharge. |
| Companies |
|
(A) Domestic Companies
Income tax : 30% (25% if turnover
or gross receipt does not exceed Rs.250 Crore in the Financial Year
2016-17)
Surcharge: 7% if the taxable
income exceeds Rs. 1 crore & 12% if the taxable income exceeds 10
crores
Health and Education Cess: 4% on the amount of Tax plus surcharge
|
| (B)
Foreign Companies |
| Income
tax : |
40%
(in general ) |
| Surcharge
: |
2%
if the taxable income exceeds Rs. 1 crore & 5%
if the taxable income exceeds 10 crores |
| Health and Education Cess: 4% on the amount of Tax plus surcharge |
|
| Cooperative
Societies |
| Upto
Rs. 10,000 |
10% |
| Rs.
10,001 to Rs. 20,000 |
20% |
| Rs.
20,001 to Above |
30% |
|
|
Surcharge : 12% of the Income Tax,
where total taxable income is more than Rs. 1 crore.
Health and Education Cess: 4% on the amount of Tax |
| Local
Authorities |
|
Income tax : 30%.
Surcharge : 12% of the Income Tax,
where total taxable income is more than Rs. 1 crore
Health and Education Cess: 4% on the amount of Tax |
Assessment
year : 2018 -19
Previous year : 2017 - 18 |
| 1.
For resident Senior Citizens. (Age above 60 Years) |
| Up
to Rs 3,00,000 |
Nil |
| Rs.
3,00,001 to Rs. 5,00,000 |
5% |
| Rs.
5,00,001 to Rs. 10,00,000 |
20% |
| Above
Rs. 10,00,000 |
30% |
|
| 2.
For resident Super Senior Citizens. (Age above 80 Years) |
| Up
to Rs 5,00,000 |
Nil |
| Rs.
5,00,001 to Rs. 10,00,000 |
20% |
| Above
Rs. 10,00,000 |
30% |
|
| 3.
Individuals, [other than those mentioned above, HUF, AOP/BOI (other than
co-operative societies). |
| Upto
Rs. 2,50,000 |
Nil |
| Rs.
2,50,001 to Rs. 5,00,000 |
5% |
| Rs.
5,00,001 to Rs 10,00,000 |
20% |
| Above
Rs. 10,00,000 |
30% |
|
| Note:
Rebate u/s 87A is added from Finance Act 2017, in which resident
individuals are allowed rebate (if their taxable income does not exceed
Rs. 3.5 lakh) equal to 100% of income tax or Rs. 2500 whichever less. |
|
Surcharge :
10% for Individual having taxable Income exceeding 50 Lacs upto 1 Crore
15% for Individual having taxable Income exceeding 1 Crore
Education Cess : 2% on income-tax plus
surcharge.
Secondary and Higher Education cess : 1% on
income-tax plus surcharge
Long-Term Capital Gains: 20% on income-tax plus
surcharge.
Short-Term Capital Gains u/s 111A:15% on income-tax plus surcharge.
|
| Firms |
|
Income tax : 30%.
Surcharge : 12% of the Income Tax, where
total taxable income is more than Rs. 1 crore.
Education Cess : 2% on income-tax plus
surcharge
Secondary and Higher Education cess : 1% on
income-tax plus surcharge
|
| Companies |
|
(A) Domestic Companies
Income tax : 30% (25% if turnover or gross
receipt does not exceed Rs.50 Crore)
Surcharge: 7% if the taxable income exceeds Rs.
1 crore & 12% if the taxable income exceeds 10 crores
Education Cess: 2% on income-tax plus
surcharge.
Secondary and Higher Education cess : 1% on
income-tax plus surcharge
|
| (B)
Foreign Companies |
| Income
tax : |
40%
(in general ) |
| Surcharge
: |
2%
if the taxable income exceeds Rs. 1 crore & 5%
if the taxable income exceeds 10 crores |
| Education
Cess : |
2%
on income-tax plus surcharge |
| Secondary
and Higher Education cess : |
1%
on income-tax plus surcharge |
|
| Cooperative
Societies |
| Upto
Rs. 10,000 |
10% |
| Rs.
10,001 to Rs. 20,000 |
20% |
| Rs.
20,001 to Above |
30% |
|
|
Surcharge : 12% of the Income Tax, where total
taxable income is more than Rs. 1 crore.
Education Cess : 2% on income-tax.
Secondary And Higher EducationCess : 1% on
income tax plus surcharge
|
| Local
Authorities |
|
Income tax : 30%.
Surcharge : 12% of the Income Tax, where total
taxable income is more than Rs. 1 crore
Education Cess : 2% on income-tax plus
surcharge.
Secondary and Higher Education cess : 1% on
income-tax plus surcharge
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Rates Of Income Tax (Assessment
year : 2017- 18, P.Y-2016-17)
Rates
Of Income Tax (Assessment year : 2016 - 17, P.Y-2015-16)
Rates
Of Income Tax (Assessment year : 2015 - 16,
P.Y-2014-15)
Rates
Of Income Tax (Assessment year : 2014 - 15,
P.Y-2013-14)
Rates
Of Income Tax (Assessment year : 2012 - 13
& 2013-14, P.Y-2011-12 & 2012-13) |
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