Tax Rates in India
Note:
Tax rates for the previous years (from AY 1998-99)
are given for Individuals.
Education Cess has to
be added on Income-tax and Surcharge @ 2% from AY
2004-05 and 3% from AY 2007-08
Terms
Used:
TI - Total Income (Chargeable at normal
rate)
Slab - Total Income Range
Tax rates for AY 2006-07 & AY 2007-08
|
Slab (Rs.)
|
Tax (Rs.)
|
Surcharge on Income Tax (if TI > Rs.10
Lakhs) (Rs.)
|
|
less than 1,00,000
|
Nil
|
Nil
|
|
1,00,000 to 1,50,000
|
(TI - 1,00,000) * 10%
|
10%
|
|
1,50,000 to 2,50,000
|
5,000 + (TI - 1,50,000) * 20%
|
10% |
|
Greater than 2,50,000
|
25,000 + (TI - 2,50,000) * 30%
|
10%
|
Women aged 65 years or less
|
Slab (Rs.)
|
Tax (Rs.)
|
Surcharge on Income Tax (if TI > Rs.10
Lakhs) (Rs.)
|
|
less than 1,35,000
|
Nil
|
Nil
|
|
1,35,000 to 1,50,000
|
(TI - 1,35,000) * 10%
|
10%
|
|
1,50,000 to 2,50,000
|
1,500 + (TI - 1,50,000) * 20%
|
10% |
|
Greater than 2,50,000
|
21,500 + (TI - 2,50,000) * 30%
|
10%
|
Tax rates for Senior Citizens
(Individuals aged above
65
years)
|
Slab (Rs.)
|
Tax (Rs.)
|
Surcharge on Income Tax (if TI > Rs.10
Lakhs) (Rs.)
|
|
less than 1,85,000
|
Nil
|
Nil
|
|
1,85,000 to 2,50,000
|
(TI - 1,85,000) * 20%
|
10% |
|
Greater than 2,50,000
|
13,000 + (TI - 2,50,000) * 30%
|
10%
|
Tax Rates for AY 2004-05 & AY 2005-06
|
Slab (Rs.)
|
Tax (Rs.)
|
Surcharge on Income Tax (If TI > Rs.8.50
Lakhs) (Rs.)
|
|
less than 50,000
|
Nil
|
Nil
|
|
50,000 to 60,000
|
(TI - 50,000) * 10%
|
10%
|
|
60,000 to 1,50,000
|
1,000 + (TI - 60,000) * 20%
|
10% |
|
Greater than 1,50,000
|
19,000 + (TI - 1,50,000) * 30%
|
10%
|
AY 2003-04
| Slab
(Rs.)
|
Tax (Rs.)
|
Surcharge on Income Tax (If TI >
Rs.60,000) (Rs.)
|
|
Less than 50,000
|
Nil
|
Nil
|
|
50,000 to 60,000
|
(TI - 50,000) * 10%
|
5%
|
|
60,000 to 1,50,000
|
1,000 + (TI - 60,000) * 20%
|
5% |
|
Greater than 1,50,000
|
19,000 + (TI - 1,50,000) * 30%
|
5%
|
AY 2002-03
|
Slab (Rs.)
|
Tax (Rs.)
|
Surcharge on Income Tax (If TI >
Rs.60,000) (Rs.)
|
|
Less than 50,000
|
Nil
|
Nil
|
|
50,000 to 60,000
|
(TI - 50,000) * 10%
|
2%
|
|
60,000 to 1,50,000
|
1,000 + (TI - 60,000) * 20%
|
2% |
|
Greater than 1,50,000
|
19,000 + (TI - 1,50,000) * 30%
|
2%
|
AY 2001-02
|
Slab (Rs.)
|
Tax (Rs.)
|
Surcharge on Income Tax (If TI >
Rs.60,000) (Rs.)
|
Surcharge on Income Tax (If TI >
Rs.1,50,000) (Rs.)
|
|
Less than 50,000
|
Nil
|
Nil
|
Nil
|
|
50,000 to 60,000
|
(TI - 50,000) * 10%
|
12%
|
17%
|
|
60,000 to 1,50,000
|
1,000 + (TI - 60,000) * 20%
|
12% |
17%
|
|
Greater than 1,50,000
|
19,000 + (TI - 1,50,000) * 30%
|
12%
|
17%
|
AY 2000-01
|
Slab (Rs.)
|
Tax (Rs.)
|
Surcharge on Income Tax (If TI >
Rs.60,000) (Rs.)
|
|
Less than 50,000
|
Nil
|
Nil
|
|
50,000 to 60,000
|
(TI - 50,000) * 10%
|
10%
|
|
60,000 to 1,50,000
|
1,000 + (TI - 60,000) * 20%
|
10% |
|
Greater than 1,50,000
|
19,000 + (TI - 1,50,000) * 30%
|
10%
|
AY 1999-2000
|
Slab (Rs.)
|
Tax (Rs.)
|
Surcharge on Income Tax (Rs.)
|
|
Less than 50,000
|
Nil
|
Nil
|
|
50,000 to 60,000
|
(TI - 50,000) * 10%
|
Nil |
|
60,000 to 1,50,000
|
1,000 + (TI - 60,000) * 20%
|
Nil |
|
Greater than 1,50,000
|
19,000 + (TI - 1,50,000) * 30%
|
Nil |
AY 1998-99
|
Slab (Rs.)
|
Tax (Rs.)
|
Surcharge on Income Tax (Rs.)
|
|
Less than 40,000
|
Nil
|
Nil
|
|
40,000 to 60,000
|
(TI - 40,000) * 10%
|
Nil |
|
60,000 to 1,50,000
|
2,000 + (TI - 60,000) * 20%
|
Nil |
|
Greater than 1,50,000
|
20,000 + (TI - 1,50,000) * 30%
|
Nil |
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from Tax Rates
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Indian Income Tax Page.
|
