Tax Rates in India
Income tax rates in India: Click here to read Income Tax Rates for AY 2009-2010
Note : Explanation for the terms used in this page.
Surcharge : Surcharge is an additional levy on income-tax made by the Central Government of India. Income tax collected from the public is distributed to the State Governments. But the amount collected as 'Surcharge' is wholly held by the Central Government.
Education Cess : Education Cess is an additional levy on income-tax and surcharge made by the Central Government of India. This amount is exclusively held by the Central Government for the purpose of providing education upto higher secondary level in India. Tax Rates in India for Individuals
Individuals are divided into 3 categories as given below.
Click here to check your residential status.
Resident Individual - Senior Citizens
|
| When total Income (Chargeable at normal rate) | Income Tax in Rs. | Surcharge | Educational Cess ( On Income tax + Surcharge) |
|---|---|---|---|
| Does not exceed Rs. 1,95,000 | Nil | Nil | Nil |
| Is greater than Rs. 1,95,000 & less than Rs. 2,50,000 | (TI - Rs. 1,95,000) x 20%; | Nil | 3% |
| Is greater than Rs. 2,50,000 | [(TI - Rs. 2,50,000) x 30%] + 11,000 | If TI is more than Rs. 10,00,000 then 10% of Income tax shall be paid as Surcharge. | 3% |
Go to Top
Tax rates for Resident Individual - Women
( Women aged 65 years or less )
| When total Income (Chargeable at normal rate) | Income Tax in Rs. | Surcharge | Educational Cess ( On Income tax + Surcharge) |
|---|---|---|---|
| Does not exceed Rs. 1,45,000 | Nil | Nil | Nil |
| Is greater than Rs. 1,45,000 & less than Rs. 1,50,000 | (TI - Rs. 1,45,000) x 10%; | Nil | 3% |
| Is greater than Rs. 1,50,000 & less than Rs. 2,50,000 | [(TI - Rs. 1,50,000) x 20%] + 500 | Nil | 3% |
| Is greater than Rs. 2,50,000 | [(TI - Rs. 2,50,000) x 30%] + 20,500 | If TI is more than Rs. 10,00,000 then 10% of Income tax shall be paid as Surcharge. | 3% |
Go to Top
Tax rates in India for Other Individuals
( Excluding Senior citizen- aged above 65 or more & Women )
| When total Income (Chargeable at normal rate) | Income Tax in Rs. | Surcharge | Educational Cess ( On Income tax + Surcharge) |
|---|---|---|---|
| Does not exceed Rs. 1,10,000 | Nil | Nil | Nil |
| Is greater than Rs. 1,10,000 & less than Rs. 1,50,000 | (TI - Rs. 1,10,000) x 10% | Nil | 3% |
| Is greater than Rs. 1,50,000 & less than Rs. 2,50,000 | [(TI - Rs. 1,50,000) x 20%] + 4,000 | Nil | 3% |
| Is greater than Rs. 2,50,000 | [(TI - Rs. 2,50,000) x 30%] + 24,000 | If TI is more than Rs. 10,00,000 then 10% of Income tax shall be paid as Surcharge. | 3% |
Go to Top
Tax Rates in India for Co-Operative Societies
| When total Income (Chargeable at normal rate) | Income Tax in Rs. | Educational Cess ( On Income tax + Surcharge) |
|---|---|---|
| Does not exceed Rs. 10,000 | TI x 10% | 3% |
| Is more than Rs. 10,000 & less than Rs. 20,000 | [(TI - Rs. 10,000) x 20%] + 1000; | 3% |
| Is greater than Rs. 20,000 | [(TI - Rs. 20,000) x 30%] + 3,000 | 3% |
Go to Top
Tax rates in India for
Firms, Companies and Local Authorities
| Particulars | Firm | Domestic Companies | Foreign Companies* | Local Authorities |
|---|---|---|---|---|
| Tax Rate | 30% | 30% | 40% | 30% |
| Surcharge (Only if the total income exceeds Rs. 1 Crore) | 10% | 10% | 2.5% | Nil |
| Educational Cess | 3% | 3% | 3% | 3% |
* For Royalty Income received under agreement approved by Central Government (between 01.04.1961 and 31.03.1976) and Fees for Technical Services received under agreement approved by Central Government (between 01.03.1964 and 31.03.1976), the tax rates in India is 50% of the said Royalty or Fees for Technical Services.
Go to Top
Tax Rates in India for HUFs, BOIs & AOPs
| When total Income (Chargeable at normal rate) | Income Tax in Rs. | Surcharge | Educational Cess ( On Income tax + Surcharge) |
|---|---|---|---|
| Does not exceed Rs. 1,10,000 | Nil | Nil | Nil |
| Is greater than Rs. 1,10,000 & less than Rs. 1,50,000 | (TI - Rs. 1,10,000) x 10% | Nil | 3% |
| Is greater than Rs. 1,50,000 & less than Rs. 2,50,000 | [(TI - Rs. 1,50,000) x 20%] + 4,000 | Nil | 3% |
| Is greater than Rs. 2,50,000 | [(TI - Rs. 2,50,000) x 30%] + 24,000 | If TI is more than Rs. 10,00,000 then 10% of Income tax shall be paid as Surcharge. | 3% |
Go to Top
Tax Rates for Other Artificial Juridical Persons
| When total Income (Chargeable at normal rate) | Income Tax in Rs. | Surcharge on Income tax | Educational Cess ( On Income tax + Surcharge) |
|---|---|---|---|
| Does not exceed Rs. 1,10,000 | Nil | Nil | Nil |
| Is greater than Rs. 1,10,000 & less than Rs. 1,50,000 | (TI - Rs. 1,10,000) x 10% | 10% | 3% |
| Is greater than Rs. 1,50,000 & less than Rs. 2,50,000 | [(TI - Rs. 1,50,000) x 20%] + 4,000 | 10% | 3% |
| Is greater than Rs. 2,50,000 | [(TI - Rs. 2,50,000) x 30%] + 24,000 | 10% | 3% |
| For Your Financial Success  Free Newsletter VK's Tax Planning Tips |
Go to Top
Explore www.v-krishnan-and-company.com
Income Tax Liability | Chapter VI-A Deductions | IT Return Due Dates | AY 2008-09 Return Forms | Set-Off and Carry forward of Losses | Net Salary | House Property Income | Income from Other Sources | CGT Exemption u/s 54 | Business Income - Deductions
Return to Indian Income Tax Page.
Return from Tax Rates In India Page to V.Krishnan & Co. Home Page
