TaxTMI 
TaxTMI 
Income Tax Rates for Local Authorities
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.... 1: - Add Surcharge - 12% if income exceeds Rs. 1 Crores - with marginal relief. Note 2: - Add Health and Education Cess - 4% of Income Tax and surcharge ==================== Rates For the Assessment Year 2025-26 Rate of income tax is 30% - On the whole of the total income AMT is 18.50% of Book Profit / Adjusted total income in cases where the local authority has claimed deductions u/s 80H to 80RRB (except 80P), 35AD, and 10AA. However, in respect of units of local authorities located in IFSC deriving income solely from convertible foreign exchange (CFE), AMT can be paid at the concessional rate of 9% (instead of 18.5%). (For more details on Alternate Minimum Tax (AMT), click here) Notes: ....
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....1: - Add Surcharge - 12% if income exceeds Rs. 1 Crores - with marginal relief. Note 2: - Add Health and Education Cess - 4% of the Income Tax and surcharge ==================== Rates For the Assessment Year 2022-23 Rate of income tax is 30% AMT is 18.50% of Book Profit / Adjusted total income in cases where the local authority has claimed deductions u/s 80H to 80RRB (except 80P), 35AD, and 10AA. However, in respect of units of local authorities located in IFSC deriving income solely from convertible foreign exchange (CFE), AMT can be paid at the concessional rate of 9% (instead of 18.5%). (For more details on Alternate Minimum Tax (AMT), click here) Notes: Note 1: - Add Surcharge -&....
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....% Notes: Note 1: - Add Surcharge - 12% if income exceeds Rs. 1 Crores - with marginal relief. 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 ==================== Rates For the Assessment Year 2017-2018 Click here for Alternate Minimum Tax (AMT) Rate of income tax is 30% Notes: Note 1: - Add Surcharge - 12% if income exceeds Rs. 1 Crores - with marginal relief. 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 ==================== Rates For the Ass....
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.... and Higher Education Cess - SHE. Cess is 1% of Income Tax ==================== Rates For the Assessment Year 2012-2013 Rate of income tax is 30% Notes for the Assessment Year 2012-2013 Note 1: - Surcharge - Nil Note 2: - Add Education Cess - E. Cess is 2% of Income Tax Note 2: - Add Secondary and Higher Education Cess - SHE. Cess is 1% of Income Tax ==================== Rates For the Assessment Year 2011-2012 Rate of income tax is 30% Notes for the Assessment Year 2011-2012 Note 1: - Surcharge - Nil Note 2: - Add Education Cess - E. Cess is 2% of Income Tax Note 2: - Add Secondary and Higher Education Cess - SHE. Cess is 1% of Income Tax ==================== Rates For the Assessment Year 2010-2011 Rate of income....