FINANCIAL YEAR 2016-17 (ASSESSMENT YEAR 2017-18)
Resident Very Senior Citizens |
Local Authority |
Resident Senior Citizens |
Firms & LLPs |
Resident Women/ Female |
Domestic Companies |
Any other Individuals,HUF, AOP, BOI, AJP |
Foreign Companies |
Co-operative Society |
Marginal Relief |
Resident Very Senior Citizen (80 years or more at any time during the financial year) |
|
Taxable Income |
Tax Payable |
Upto Rs. 5,00,000 |
NIL |
From Rs. 5,00,001 to Rs.10,00,000 |
20% of income above Rs.5,00,000 |
Above Rs.10,00,000 |
Rs.1,00,000 + 30% of income above Rs.10,00,000 |
Surcharge |
NIL |
Education Cess |
2% of (Total tax payable + Surcharge) |
Secondary & Higher Education Cess |
1% of (Total tax payable + Surcharge) |
Resident Senior Citizen (60 years or more at any time during the financial year) |
|
Taxable Income |
Tax Payable |
Upto Rs.3,00,000 |
NIL |
From Rs.3,00,001 to Rs.5,00,000 |
10% of income above Rs.3,00,000 |
From Rs.5,00,001 to Rs.10,00,000 |
Rs. 20,000 + 20% of income above Rs.5,00,000 |
Above Rs.10,00,000 |
Rs.1,20,000 + 30% of income above Rs.10,00,000 |
Surcharge |
NIL |
Education Cess |
2% of Total tax payable |
Secondary & Higher Education Cess |
1% of Total tax payable |
Resident Women/ Female |
|
Taxable Income |
Tax Payable |
Upto Rs. 2,50,000 |
NIL |
From Rs. 2,50,001 to Rs. 5,00,000 |
10% of income above Rs. 2,50,000 |
From Rs. 5,00,001 to Rs.10,00,000 |
Rs.25,000 + 20% of income above Rs.500,000 |
Above Rs.1000,000 |
Rs.125,000 + 30% of income above Rs.1000,000 |
Surcharge |
NIL |
Education Cess |
2% of Total tax payable |
Secondary & Higher Education Cess |
1% of Total tax payable |
Any other Resident Individual, any HUF (Hindu Undivided Family), AOP(Association of Persons), BOI (Body of Individuals), Artificial Juridical Person, NRI (non Resident Indian), RNOR (Resident but not ordinarily Resident) |
|
Taxable Income |
Tax Payable |
Upto Rs. 2,50,000 |
NIL |
From Rs. 2,50,001 to Rs. 5,00,000 |
10% of income above Rs. 2,50,000 |
From Rs. 5,00,001 to Rs.10,00,000 |
Rs. 25,000 + 20% of income above Rs. 5,00,000 |
Above Rs.10,00,000 |
Rs.125,000 + 30% of income above Rs.10,00,000 |
Surcharge |
NIL |
Education Cess |
2% of Total tax payable |
Secondary & Higher Education Cess |
1% of Total tax payable |
Co-operative Society |
|
Taxable Income |
Tax Payable |
Upto Rs.10,000 |
10% |
From Rs.10,001 to Rs.20,000 |
Rs.1,000 + 20% of income above Rs.10,000 |
Above Rs.20,000 |
Rs.3,000 + 30% of income above Rs.20,000 |
Surcharge |
NIL |
Education Cess |
2% of Total tax payable |
Secondary & Higher Education Cess |
1% of Total tax payable |
Local Authorities |
|
Taxable Income |
Tax Payable |
Tax Rate |
30% of taxable income |
Surcharge |
NIL |
Education Cess |
2% of Total tax payable |
Secondary & Higher Education Cess |
1% of Total tax payable |
Firms & LLPs (Limited Liability Partnerships) |
Companies
Taxable Income |
Tax Payable |
Tax Rate |
30% of taxable income |
Surcharge |
NIL |
Education Cess |
2% of Total tax payable |
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