Income Tax Rates
FINANCIAL YEAR 2017-18 (ASSESSMENT YEAR 2018-19)
|
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 up to 50 lakhs. 10% above 50 lakhs, 15% above 1 crore |
|
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 |
5% of income above Rs.3,00,000 |
|
From Rs.5,00,001 to Rs.10,00,000 |
Rs. 10,000 + 20% of income above Rs.5,00,000 |
|
Above Rs.10,00,000 |
Rs.1,10,000 + 30% of income above Rs.10,00,000 |
|
Surcharge |
NIL up to 50 lakhs. 10% above 50 lakhs, 15% above 1 crore |
|
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 |
5% of income above Rs. 2,50,000 |
|
From Rs. 5,00,001 to Rs.10,00,000 |
Rs.12,500 + 20% of income above Rs.500,000 |
|
Above Rs.1000,000 |
Rs.112,500 + 30% of income above Rs.1000,000 |
|
Surcharge |
NIL up to 50 lakhs. 10% above 50 lakhs, 15% above 1 crore |
|
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 |
5% of income above Rs. 2,50,000 |
|
From Rs. 5,00,001 to Rs.10,00,000 |
Rs. 12,500 + 20% of income above Rs. 5,00,000 |
|
Above Rs.10,00,000 |
Rs.112,500 + 30% of income above Rs.10,00,000 |
|
Surcharge |
NIL upto 50 lakhs, 10% above 50 lakhs, 15% above a Crore |
|
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 |
