Income Tax Rates
| 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 (If taxable income exceeds Rs.1,00,00,000) | 10% of Income Tax |
| Education Cess | 2% of (Total tax payable + Surcharge) |
| Secondary & Higher Education Cess | 1% of (Total tax payable + Surcharge) |
Note: Rebate u/s 87A is added from Finance Act 2013, in which resident individuals are allowed rebate (if their taxable income does not exceed Rs. 5 lakh) equal to 100% of income tax or Rs. 2000 whichever less.
| Resident Senior Citizen (60 years or more at any time during the financial year) | |
| 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.250,000 |
| 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.1,25,000 + 30% of income above Rs.10,00,000 |
| Surcharge (If taxable income exceeds Rs.1,00,00,000) | 10% of Income Tax |
| Education Cess | 2% of Total tax payable |
| Secondary & Higher Education Cess | 1% of Total tax payable |
Note: Rebate u/s 87A is added from Finance Act 2013, in which resident individuals are allowed rebate (if their taxable income does not exceed Rs. 5 lakh) equal to 100% of income tax or Rs. 2000 whichever less.
| Resident Women / Female | |
| Taxable Income | Tax Payable |
| Upto Rs. 2,00,000 | NIL |
| From Rs. 2,00,001 to Rs. 5,00,000 | 10% of income above Rs. 2,00,000 |
| 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 (If taxable income exceeds Rs.1,00,00,000) | 10% of Income Tax |
| Education Cess | 2% of Total tax payable |
| Secondary & Higher Education Cess | 1% of Total tax payable |
Note: Rebate u/s 87A is added from Finance Act 2013, in which resident individuals are allowed rebate (if their taxable income does not exceed Rs. 5 lakh) equal to 100% of income tax or Rs. 2000 whichever less.
|
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. 2,00,000 | NIL |
| From Rs. 2,00,001 to Rs. 5,00,000 | 10% of income above Rs. 2,00,000 |
| 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 (If taxable income exceeds Rs.1,00,00,000) | 10% of Income Tax |
| Education Cess | 2% of Total tax payable |
| Secondary & Higher Education Cess | 1% of Total tax payable |
Note: Rebate u/s 87A is added from Finance Act 2013, in which resident individuals are allowed rebate (if their taxable income does not exceed Rs. 5 lakh) equal to 100% of income tax or Rs. 2000 whichever less.
| 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 (If taxable income exceeds Rs.1,00,00,000) | 10% of Income Tax |
| 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 (If taxable income exceeds Rs.1,00,00,000) | 10% of Income Tax |
| Education Cess | 2% of Total tax payable |
| Secondary & Higher Education Cess | 1% of Total tax payable |
| Firms & LLPs (Limited Liability Partnerships) | |
| Taxable Income | Tax Payable |
| Tax Rate | 30% of taxable income |
