Assessment year : 2019 - 20
Previous year : 2018 - 19
|
| 1. For resident Senior Citizens. (Age above 60 Years) |
| Up to Rs 3,00,000 |
Nil |
| Rs. 3,00,001 to Rs. 5,00,000 |
5% |
| Rs. 5,00,001 to Rs. 10,00,000 |
20% |
| Above Rs. 10,00,000 |
30% |
|
| 2. For resident Super Senior Citizens. (Age above 80 Years) |
| Up to Rs 5,00,000 |
Nil |
| Rs. 5,00,001 to Rs. 10,00,000 |
20% |
| Above Rs. 10,00,000 |
30% |
|
| 3. Individuals, [other than those mentioned above, HUF, AOP/BOI (other than co-operative societies). |
| Upto Rs. 2,50,000 |
Nil |
| Rs. 2,50,001 to Rs. 5,00,000 |
5% |
| Rs. 5,00,001 to Rs 10,00,000 |
20% |
| Above Rs. 10,00,000 |
30% |
|
| Note: Rebate u/s 87A is added from Finance Act 2017, in which resident individuals are allowed rebate (if their taxable income does not exceed Rs. 3.5 lakh) equal to 100% of income tax or Rs. 2,500 whichever less.
|
Surcharge :
10% for Individual having taxable Income exceeding 50 Lacs upto 1 Crore
15% for Individual having taxable Income exceeding 1 Crore
Education Cess :
2% on income-tax plus surcharge.
Secondary and Higher Education cess :
1% on income-tax plus surcharge
Long-Term Capital Gains:
20% on income-tax plus surcharge.
Short-Term Capital Gains u/s 111A:15% on income-tax plus surcharge.
|
| Firms |
Income tax :
30%.
Surcharge :
12% of the Income Tax, where total taxable income is more than Rs. 1 crore.
|
| Companies |
(A) Domestic Companies
Income tax :
30% (25% if turnover or gross receipt does not exceed Rs.250 Crore in the Financial Year 2016-17)
Surcharge:
7% if the taxable income exceeds Rs. 1 crore & 12% if the taxable income exceeds 10 crores
Health and Education Cess:
4% on the amount of Tax plus surcharge
|
(B) Foreign Companies
Income tax :
40% (in general )
Surcharge:
2% if the taxable income exceeds Rs. 1 crore & 5% if the taxable income exceeds 10 crores
Education Cess :
4% on the amount of Tax plus surcharge
|
| Cooperative Societies |
| Upto Rs. 10,000 |
10% |
| Rs. 10,001 to Rs. 20,000 |
20% |
| Rs. 20,001 to Above |
30% |
|
Surcharge :
12% of the Income Tax, where total taxable income is more than Rs. 1 crore.
Health and Education Cess :
4% on the amount of Tax .
|
| Local Authorities |
Income tax :
30%
Surcharge :
12% of the Income Tax, where total taxable income is more than Rs. 1 crore
Health and Education Cess :
4% on the amount of Tax.
|