AI OCR 
TaxTMI 
TaxTMI 
TaxTMI 
Income Tax Rates for Individuals, HUF & Artificial Juridical Person
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....tal income minus Rs. 3,00,000 See Notes Rs. 5,00,000 - Rs. 10,00,000 20% Rs. 10,000 + 20% of total income minus Rs. 5,00,000 --do-- Above Rs. 10,00,000 30% Rs. 1,10,000 + 30% of total income minus Rs. 10,00,000 --do-- Special Rates for Resident Super Senior Citizen (who is 80 years or more at any time during the previous year) Net Income Range Income Tax Rates Tax Upto Rs. 5,00,000 Nil Nil See Notes Rs. 5,00,000 - Rs. 10,00,000 20% 20% of total income minus Rs. 5,00,000 --do-- Above Rs. 10,00,000 30% Rs. 1,00,000 + 30% of total income minus Rs. 10,00,000 --do-- Notes: for the Assessment Year 2024-2025 1. Computation of Surcharge (a) Income exceeds Rs. 50 Lakhs but does not exceed Rs. 1 Crore • Surcharge Rate: 10% • Applies to: Total income (including income from dividends and capital gains under sections 196, 197, and 198). (b) Income exceeds Rs. 1 Crores but does not exceed Rs. 2 Crore • Surcharge Rate: 15% • Applies to: Total income (including dividend and capital gains as above). (c) ....
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....196, 197, 198. and dividend income. Hence, the maximum rate of surcharge on tax payable on such incomes shall be 15%. ================================ Rates For the Assessment Year 2026-27 Tax Rates under normal provision of Income Tax Act, 1961 Special Rates for Resident Citizen (who is less than 60 years ) Net Income Range Income Tax Rates Tax Upto Rs. 2,50,000 Nil Nil Rs. 2,50,000 - Rs. 5,00,000 5% 5% of total income minus Rs. 2,50,000 See Notes Rs. 5,00,000 - Rs. 10,00,000 20% Rs. 12,500 + 20% of total income minus Rs. 5,00,000 --do-- Above Rs. 10,00,000 30% Rs. 1,12,500 + 30% of total income minus Rs. 10,00,000 --do-- Special Rates for Resident Senior Citizen (who is 60 years or more at any time during the previous year) Net Income Range Income Tax Rates Tax Upto Rs. 3,00,000 Nil Nil Rs. 3,00,000 - Rs. 5,00,000 5% 5% of total income minus Rs. 3,00,000 See Notes Rs. 5,00,000 - Rs. 10,00,000 20% Rs. 10,000 + 20% of total income minus Rs. 5,00,000 --do-- Above Rs. 10,00,000 30% Rs.....
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....tal gains under sections 111A, 112, and 112A) d. > Rs.5 crore 37% Total income (excluding Dividends/ capital gains under sections 111A, 112, and 112A) e. > Rs.2 crore (capital gains/dividends only) 15% Only for Dividends/ capital gains under sections 111A, 112, and 112A not falling in above (c) or (d) 2. In case of an AOP consisting of only companies as its members, the rate of surcharge on the amount of income-tax shall not exceed 15%. [Amended by FA, 2023] 3. Marginal Relief - Marginal relief is also available while computing the tax liability. 4. Health and Education Cess is 4% on the Income Tax and Surcharge 5. Rebate to Resident Individual U/s 87A if Total Income ≤ 5,00,000 lower of 12,500 or Actual Tax is allowed. 6. Rebate under Section 87A is not available on income taxed at special rates Like Capital Gain, Lottary Income 7. The enhanced surcharge of 25% & 37%, as the case may be, is not levied, from income chargeable to tax under sections 111A, 112, 112A, 115AD. and dividend income. Hence, the maximum rate of surcharge on tax payable on such incomes shall be 15%. ===========....
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....nies as its members, the rate of surcharge on the amount of income-tax shall not exceed 15%. [Amended by FA, 2023] 4: - Add Health and Education Cess - H&E. Cess is 4% of Income Tax & Surcharge 5:- Rebate to Resident Individual U/s 87A if Total Income ≤ 5,00,000 lower of 12,500 or Actual Tax is allowed. 6 :- No Rebate available on LTCG, Such LTCG is taxable under section 112A @ 10%. 7:- The enhanced surcharge of 25% & 37%, as the case may be, is not levied, from income chargeable to tax under sections 111A, 112A 115AD. and dividend income. Hence, the maximum rate of surcharge on tax payable on such incomes shall be 15%. ================================ Rates For the Assessment Year 2024-25 Tax Rates under normal provision of Income Tax Act, 1961 Net Income Range Income Tax Rates Tax Upto Rs. 2,50,000 Nil Nil Rs. 2,50,000 - Rs. 5,00,000 5% 5% of total income minus Rs. 2,50,000 See Notes Rs. 5,00,000 - Rs. 10,00,000 20% Rs. 12,500 + 20% of total income minus Rs. 5,00,000 --do-- Above Rs. 10,00,000 30% Rs. 1,12,500 + 30% of total income minus Rs.....
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..... 6 :- No Rebate available on LTCG, Such LTCG is taxable under section 112A @ 10%. 7 :- The enhanced surcharge of 25% & 37%, as the case may be, is not levied, from income chargeable to tax under sections 111A, 112A 115AD. and dividend income. Hence, the maximum rate of surcharge on tax payable on such incomes shall be 15%. ================================ Rates For the Assessment Year 2023-24 Tax Rates under normal provision of Income Tax Act, 1961 Net Income Range Income Tax Rates Tax Upto Rs. 2,50,000 Nil Nil Rs. 2,50,000 - Rs. 5,00,000 5% 5% of total income minus Rs. 2,50,000 See Notes Rs. 5,00,000 - Rs. 10,00,000 20% Rs. 12,500 + 20% of total income minus Rs. 5,00,000 --do-- Above Rs. 10,00,000 30% Rs. 1,12,500 + 30% of total income minus Rs. 10,00,000 --do-- Special Rates for Resident Senior Citizen (who is 60 years or more at any time during the previous year) Net Income Range Income Tax Rates Tax Upto Rs. 3,00,000 Nil Nil Rs. 3,00,000 - Rs. 5,00,000 5% 5% of total income m....
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.... Tax Upto Rs. 2,50,000 Nil Nil Rs. 2,50,000 - Rs. 5,00,000 5% 5% of total income minus Rs. 2,50,000 See Notes Rs. 5,00,000 - Rs. 10,00,000 20% Rs. 12,500 + 20% of total income minus Rs. 5,00,000 --do-- Above Rs. 10,00,000 30% Rs. 1,12,500 + 30% of total income minus Rs. 10,00,000 --do-- Special Rates for Resident Senior Citizen (who is 60 years or more at any time during the previous year) Net Income Range Income Tax Rates Tax Upto Rs. 3,00,000 Nil Nil Rs. 3,00,000 - Rs. 5,00,000 5% 5% of total income minus Rs. 3,00,000 See Notes Rs. 5,00,000 - Rs. 10,00,000 20% Rs. 10,000 + 20% of total income minus Rs. 5,00,000 --do-- Above Rs. 10,00,000 30% Rs. 1,10,000 + 30% of total income minus Rs. 10,00,000 --do-- Special Rates for Resident Super Senior Citizen (who is 80 years or more at any time during the previous year) Net Income Range Income Tax Rates Tax Upto Rs. 5,00,000 Nil Nil See Notes Rs. 5,00,000 - Rs. 10,00,000 20% 20% of total i....
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....5% of total income minus Rs. 3,00,000 See Notes Rs. 5,00,000 - Rs. 10,00,000 20% Rs. 10,000 + 20% of total income minus Rs. 5,00,000 --do-- Above Rs. 10,00,000 30% Rs. 1,10,000 + 30% of total income minus Rs. 10,00,000 --do-- Special Rates for Resident Super Senior Citizen (who is 80 years or more at any time during the previous year) Net Income Range Income Tax Rates Tax Upto Rs. 5,00,000 Nil Nil See Notes Rs. 5,00,000 - Rs. 10,00,000 20% 20% of total income minus Rs. 5,00,000 --do-- Above Rs. 10,00,000 30% Rs. 1,00,000 + 30% of total income minus Rs. 10,00,000 --do-- Notes: for the Assessment Year 2021-2022 Note 1: - Add Surcharge - 10% if income exceeds Rs. 50 Lakhs but does not exceed 1 Crores - with marginal relief. Add Surcharge - 15% if income exceeds Rs. 1 Crores - with marginal relief. Add Surcharge - 25% if income exceeds Rs. 2 Crores - with marginal relief. &nbs....
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.... Rs. 1,00,000 + 30% of total income minus Rs. 10,00,000 --do-- Notes: for the Assessment Year 2020-2021 Note 1: - Add Surcharge - 10% if income exceeds Rs. 50 Lakhs but does not exceed 1 Crores - with marginal relief. Add Surcharge - 15% if income exceeds Rs. 1 Crores - with marginal relief. Add Surcharge - 25% if income exceeds Rs. 2 Crores - with marginal relief. Add Surcharge - 37% if income exceeds Rs. 5 Crores - with marginal relief. Note 2: - Add Health and Education Cess - H&E. Cess is 4% of Income Tax & Surcharge Note 3:- Rebate - Upto Rs. 12,500 U/s 87A - Any individual who is resident in India is eligible for this rebate, if total income is not exceeding Rs. 5,00,000 This rebate is not allowed to HUF, AOP or BOI. ================================ Rates For the Assessment Year 2019-2020 Click here for Alternate Minimum Tax (AMT) Net Income Range Income Tax Rates Tax Upto Rs. 2,50,000....
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....0,000 --do-- Special Rates for Resident Senior Citizen (who is 60 years or more at any time during the previous year) Net Income Range Income Tax Rates Tax Upto Rs. 3,00,000 Nil Nil Rs. 3,00,000 - Rs. 5,00,000 5% 5% of total income minus Rs. 3,00,000 See Notes Rs. 5,00,000 - Rs. 10,00,000 20% Rs. 10,000 + 20% of total income minus Rs. 5,00,000 --do-- Above Rs. 10,00,000 30% Rs. 1,10,000 + 30% of total income minus Rs. 10,00,000 --do-- Special Rates for Resident Super Senior Citizen (who is 80 years or more at any time during the previous year) Net Income Range Income Tax Rates Tax Upto Rs. 5,00,000 Nil Nil See Notes Rs. 5,00,000 - Rs. 10,00,000 20% 20% of total income minus Rs. 5,00,000 --do-- Above Rs. 10,00,000 30% Rs. 1,00,000 + 30% of total income minus Rs. 10,00,000 --do-- Notes: for the Assessment Year 2018-2019 Note 1: - Add Surcharge - 10% if income exceeds Rs. 50 Lakhs but does not exceed 1 Crores - with marginal relief. Note 1: - Add Surcharge - 15% if....
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....in India is eligible for this rebate, if total income is not exceeding Rs. 500,000 This rebate is not allowed to HUF, AOP or BOI. ================================ Rates of Income Tax as applicable to Individuals, Hindu Undivided Families (HUF) and Artificial Juridical Person: Rates For the Assessment Year 2016-2017 Click here for Alternate Minimum Tax (AMT) Net Income Range Income Tax Rates Tax Upto Rs. 2,50,000 Nil Nil Rs. 2,50,000 - Rs. 5,00,000 10% 10% of total income minus Rs. 2,50,000 See Notes Rs. 5,00,000 - Rs. 10,00,000 20% Rs. 25,000 + 20% of total income minus Rs. 5,00,000 --do-- Above Rs. 10,00,000 30% Rs. 1,25,000 + 30% of total income minus Rs. 10,00,000 --do-- Special Rates for Resident Women (who is below 60 years at any time during the previous year): - Not applicable w.e.f. A.Y 2014-15 Special Rates for Resident Senior Citizen (who is 60 years or more at any time during the previous year) Net Income Range Income Tax Rates Tax Upto Rs. 3,00,000 Nil Nil Rs. 3,00,000 - Rs. 5,00,000 10....
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....000 10% 10% of total income minus Rs. 3,00,000 See Notes Rs. 5,00,000 - Rs. 10,00,000 20% Rs. 20,000 + 20% of total income minus Rs. 5,00,000 --do-- Above Rs. 10,00,000 30% Rs. 1,20,000 + 30% of total income minus Rs. 10,00,000 --do-- Special Rates for Resident Super Senior Citizen (who is 80 years or more at any time during the previous year) Net Income Range Income Tax Rates Tax Upto Rs. 5,00,000 Nil Nil See Notes Rs. 5,00,000 - Rs. 10,00,000 20% 20% of total income minus Rs. 5,00,000 --do-- Above Rs. 10,00,000 30% Rs. 1,00,000 + 30% of total income minus Rs. 10,00,000 --do-- Notes: for the Assessment Year 2015-2016 Note 1: - Add Surcharge - 10% if income exceeds Rs. 1 Crores - with marginal relief. Note 2: - Add Education Cess - E. Cess is 2% of Income Tax & Surcharge Note 3: - Add Secondary and Higher Education Cess - SHE. Cess is 1% of Income Tax & Surcharge Note 4:- Rebate - Upto Rs. 2,000 U/s 87A - Any individual who is resident in India is eligible for this rebate, if total incom....
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....==== Income Tax Rates for Individuals, HUF Rates of Income Tax as applicable to Individuals, Hindu Undivided Families (HUF) and Artificial Jurisdictional Person: Click here for Alternate Minimum Tax (AMT) Rates For the Assessment Year 2013-2014 Net Income Range Income Tax Rates Tax Upto Rs. 2,00,000 Nil Nil Rs. 2,00,000 - Rs. 5,00,000 10% 10% of total income minus Rs. 2,00,000 See Notes Rs. 5,00,000 - Rs. 10,00,000 20% Rs. 30,000 + 20% of total income minus Rs. 5,00,000 --do-- Above 10,00,000 30% Rs. 1,30,000 + 30% of total income minus Rs. 10,00,000 --do-- Special Rates for Resident Women (who is below 60 years at any time during the previous year): - Not applicable w.e.f A.Y 2013-14 Special Rates for Resident Senior Citizen (who is 60 years or more at any time during the previous year) Net Income Range Income Tax Rates Tax Upto Rs. 2,50,000 Nil Nil Rs. 2,50,000 - Rs. 5,00,000 10% 10% of total income minus Rs. 2,50,000 See Notes Rs. 5,00,000 - Rs. 10,00,000 20% Rs. 25,000 + 20% of total income minus Rs. 5,00,000 --do-- A....
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....r Citizen (who is 80 years or more at any time during the previous year) Net Income Range Income Tax Rates Tax Upto Rs. 5,00,000 Nil Nil See Notes Rs. 5,00,000 - Rs. 8,00,000 20% 20% of total income minus Rs. 5,00,000 --do-- Above 8,00,000 30% Rs. 60,000 + 30% of total income minus Rs. 8,00,000 --do-- Notes for the Assessment Year 2012-2013 Note 1: - Add Surcharge - Nil Note 2: - Add Education Cess - E. Cess is 2% of Income Tax Note 3: - Add Secondary and Higher Education Cess - SHE. Cess is 1% of Income Tax ================================ Income Tax Rates for Individuals, HUF Rates of Income Tax as applicable to Individuals, Hindu Undivided Families (HUF) and Artificial Jurisdictional Person: Rates For the Assessment Year 2011-2012 Net Income Range Income Tax Rates Tax Upto Rs. 1,60,000 Nil Nil Rs. 1,60,000 - Rs. 5,00,000 10% 10% of total income minus Rs. 1,60,000 See Notes Rs. 5,00,000 - Rs. 8,00,000 20% Rs. 34,000 + 20% of total income minus Rs. 5,00,000 --do-- Above 8,00,000 30% Rs. 94,000 + 30% of tota....
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.... any time during the previous year) Net Income Range Income Tax Rates Tax Upto Rs. 2,40,000 Nil Nil Rs. 2,40,000 - Rs. 3,00,000 10% 10% of total income minus Rs. 2,40,000 See Notes Rs. 3,00,000 - Rs. 5,00,000 20% Rs. 6,000 + 20% of total income minus Rs. 3,00,000 --do-- Above 5,00,000 30% Rs. 46,000 + 30% of total income minus Rs. 5,00,000 --do-- Notes for the Assessment Year 2010-2011 Note 1: - Add Surcharge - Nil Note 2: - Add Education Cess - E. Cess is 2% of Income Tax (rebate u/s 88E is not deductible) Note 3: - Add Secondary and Higher Education Cess - SHE. Cess is 1% of Income Tax (rebate u/s 88E is not deductible) ================================ Rates For the Assessment Year 2009-2010 Net Income Range Income Tax Rates Tax Upto Rs. 1,50,000 Nil Nil Rs. 1,50,000 - Rs. 3,00,000 10% 10% of total income minus Rs. 1,50,000 See Notes Rs. 3,00,000 - Rs. 5,00,000 20% Rs. 15,000 + 20% of total income minus Rs. 3,00,000 --do-- Above 5,00,000 30% Rs. 55,000 + 30% of total income minus Rs. 5,00,000 --do-- Sp....
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.... 20% Rs. 500 + 20% of total income minus Rs. 1,50,000 --do-- Above 2,50,000 30% Rs. 20,500 + 30% of total income minus Rs. 2,50,000 --do-- Special Rates for Resident Senior Citizen (who is 65 years or more at any time during the previous year) Net Income Range Income Tax Rates Tax Upto Rs. 1,95,000 Nil Nil Rs. 1,95,000 - Rs. 2,50,000 20% 20% of total income minus Rs. 1,95,000 See Notes Above 2,50,000 30% Rs. 11,000 + 30% of total income minus Rs. 2,50,000 --do-- Notes for the Assessment Year 2008-2009 Note 1: - Add Surcharge - Surcharge is 10% of income-tax (After deducting Rebate u/s 88E if any) if net income of an Individual, HUF exceeds Rs. 10,00,000. However, in the case of Artificial Jurisdictional Person surcharge is applicable even if net income does not exceed Rs. 10,00,000. Surcharge is subject to marginal Relief. Note 2: - Add Education Cess - E. Cess is 2% of Income Tax (minus rebate u/s 88E) plus surcharge Note 3: - Add Secondary and Higher Education Cess - SHE. Cess is 1% of Income Tax (minus rebate u/s 88E) plus surcharge ================================ Rat....