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Net Income Range Income Tax Rates
Up to Rs. 1,80,000 Nil
10% of (Total Income minus Rs
1,80,000 3,00,000
1,50,000)
Rs. 12,000 + 20% of (Total
3,00,000 5,00,000
Income minus Rs 1,50,000)
Rs. 52,000 + 30% of (Total
5,00,000 10,00,000
Income minus Rs 1,50,000)
Rs. 2,02,000 + 30% of (Total
Above 10,00,000
Income minus Rs 1,50,000)
(B) FOR RESIDENT SENIOR CITIZEN HAVING AGE OF 65 YEARS OR MORE AT ANY TIME DURING PRE
Net Income Range Income Tax Rates
Up to Rs. 2,25,000 Nil
10% of (Total Income minus Rs
2,25,000 3,00,000
1,50,000)
Rs. 7,500 + 20% of (Total Income
3,00,000 5,00,000
minus Rs 1,50,000)
Rs. 47,500 + 30% of (Total
5,00,000 10,00,000
Income minus Rs 1,50,000)
Rs. 1,97,500 + 30% of (Total
Above 10,00,000
Income minus Rs 1,50,000)
(C) FOR ANY INDIVIDUAL, EVERY HUF/AOP/BOI/ARTIFICIAL JURIDICAL PERSON:
Net Income Range (Rs.) Income Tax Rates
Up to Rs. 1,50,000 Nil
10% of (Total Income minus Rs
1,50,000 3,00,000
1,50,000)
Rs. 15,000 + 20% of (Total
3,00,000 5,00,000
Income minus Rs 1,50,000)
Rs. 55,000 + 30% of (Total
5,00,000 10,00,000
Income minus Rs 1,50,000)
Rs. 2,05,000 + 30% of (Total
Above 10,00,000
Income minus Rs 1,50,000)
(D) FIRM:
Basic Rate 30% of Total Income
Surcharge (applicable only if Total
10% of IncomeTax
Income exceeds Rs. 1 Crore)
Education Cess 2% of IncomeTax
Secondary Higher education Cess 1% of IncomeTax
Hence, Tax Rate without Surcharge being total of 30% + 2% + 1% = 30.90
%, and
Tax Rate with Surcharge being total of 30% + 10% + 2% + 1% = 33.99 %
(E) COMPANIES:
Residential Status of the Company Basic Rate of IncomeTax
Domestic company 30%
Foreign Company
Royalty received from Government or
an Indian concern in pursuance of an
agreement made by it with the Indian
concern after March 31, 1961, but
before April 1, 1976, or fees for
rendering technical service in
pursuance of an agreement which, in
either case, has been approved by the
Central Government;
Royalty received from Government or
an Indian concern in pursuance of an
agreement made by it with the Indian
concern after March 31, 1961, but
before April 1, 1976, or fees for
rendering technical service in
pursuance of an agreement which, in
either case, has been approved by the 50%
Central Government;
Any Income other than the above 40%
§ Education Cess.: 2 % of IncomeTax;
§ Secondary Higher Education Cess: 1 % of IncomeTax.
(F) MINIMUM ALTERNATE TAX (applicable only to companies)
Residential Status of Residential
Status of the Company
If Book Profit does
IT
Domestic Company 10
Foreign Company 10
(G) COOPERATIVE SOCIETIES
Net Income Range Rate of IncomeTax
Up to Rs. 10,000 10%
Rs. 10,000 Rs. 20,000 20%
Rs. 20,000 and above 30%
Surcharge: Surcharge is not applicable.
Education Cess: 2 % of IncomeTax.
Secondary and Higher Education Cess: 2 % of IncomeTax.
(H) LOCAL AUTHORITIES
Rate of IncomeTax
Net Income Range
Basic Rate 30%
Surcharge Not Applicable
Education Cess 2%
Secondary and Higher Education Cess 1%
S AT ANY TIME DURING THE PREVIOUS YEAR:
Surcharge Education Cess
Nil Nil
Nil 2% of incometax
Nil 2% of incometax
Nil 2% of incometax
10% of incometax 2% of incometax and surcharge
YEARS OR MORE AT ANY TIME DURING PREVIOUS YEAR:
Surcharge Education Cess
Nil Nil
Nil 2% of incometax
Nil 2% of incometax
Nil 2% of incometax
10% of incometax 2% of incometax and surcharge
AL JURIDICAL PERSON:
Surcharge Education Cess
Nil Nil
Nil 2% of incometax
Nil 2% of incometax
Nil 2% of incometax
10% of incometax 2% of incometax and surcharge
Surcharge
If Total Income does not exceed If Total Income does not
Rs. 1 Crore exceed Rs. 1 Crore
Nil 10%
Nil 2.50%
Nil 2.50%
Nil 2.50%
nies)
If Book Profit does not exceed Rs. 1 Crore
SC EC
0.2
0.2
Secondary and Higher
Education cess
Nil
1% of incometax
1% of incometax
1% of incometax
1% of incometax and surcharge
Secondary and Higher
Education cess
Nil
1% of incometax
1% of incometax
1% of incometax
1% of incometax and surcharge
Secondary and Higher
Education cess
Nil
1% of incometax
1% of incometax
1% of incometax
1% of incometax and surcharge
If Book Profit exceed Rs. 1 Crore
ore
Net Income Range Income Tax Rates
Nil
Up to Rs. 1,45,000
Exceed Rs.1,45,000 but not 10% of (GTI minus Rs 1,45,000)
exceed Rs 1,50,000
Rs 500 + 20% of (GTI minus Rs
Exceed Rs.1,50,000 but not
1,50,000)
exceed Rs 2,50,000
Rs 20,500 + 30% of (GTI minus
Exceed Rs.2,50,000 but not
Rs 2,50,000)
exceed Rs 10,00,000
Rs 2,45,500 + 30% of (GTI minus
Rs 10,00,000)
Above Rs 10,00,000
FOR RESIDENT SENIOR CITIZEN AND AGE 65 YEARS OR MORE AT ANY TIME DURING PREVIOUS YEAR
Net Income Range Income Tax Rates
Nil
Up to Rs. 1,95,000
Exceed Rs.1,95,000 but not 20% of (GTI minus Rs 1,95,000)
exceed Rs 2,50,000
Rs 11,000+30% of (GTI minus Rs
Exceed Rs.2,50,000 but not
2,50,000)
exceed Rs 10,00,000
Rs 2,36,000+30% of (GTI minus
Rs 10,00,000)
Above Rs 10,00,000
FOR ANY INDIVIDUAL, EVERY HUF/AOP/BOI/ARTIFICIAL JURIDICAL PERSON:
Net Income Range Income Tax Rates
Nil
Up to Rs. 1,10,000
Exceed Rs.1,10,000 but not 10% of (GTI minus Rs 1,10,000)
exceed Rs 1,50,000
Rs 4000 + 20% of ( GTI minus Rs
Exceed Rs.1,50,000 but not
1,50,000)
exceed Rs 2,50,000
Rs 24,000 + 30% of (GTI minus
Exceed Rs.2,50,000 but not
Rs 2,50,000)
exceed Rs 10,00,000
Rs 2,49,000 + 30% of (GTI minus
Rs 10,00,000)
Above Rs 10,00,000
FIRM:
A Firm is taxable at the rate of
30% for the assessment year
200809
Surcharge: 10 Per Cent of
IncomeTax
Educ. Cess: 2 Per Cent of
IncomeTax
3
Secondary Higher educ. Cess: 1
Per Cent of IncomeTax
COMPANIES:
Rates if IncomeTax are as follows
Company Rate of IncomeTax (Per Cent)
In case of a Domestic company 30
In case of Foreign Company
1. Royalty received from
Government or an Indian
concern in pursuance of an
agreement made by it with the
Indian concern after March 31,
1961, but before April 1, 1976, or
fees for rendering technical
service in pursuance of an
agreement has, in either case,
been approved by the Central
Government
2. Other Income 50
40
Surcharge: Surcharge is applicable at the rates given bellow
Assessment Year 2008 2009
If net Income does not exceed
Rs. 1 Crore
Domestic Company Nil
Foreign Company Nil
Education Cess.: It is 2 Per cent of IncomeTax.
Secondary Higher educ. Cess: It is 1 Per cent of IncomeTax
1. Minimum Alternate Tax
If Book Profit
IT
Domestic Company 10
Foreign Company 10
COOPERATIVE SOCIETIES:
Rate of IncomeTax
Net Income Range
Up to Rs. 10,000 10
Rs. 10,000 Rs. 20,000 20
Rs. 20,000 and above 30
Surcharge: Surcharge is not applicable.
Education Cess.: It is 2 Per cent of IncomeTax.
Secondary Higher educ. Cess: It is 1 Per cent of IncomeTax and surcharge.
LOCAL AUTHORITIES:
Local Authorities are Taxable at the Rate of 30 Per Cent.
Surcharge: Surcharge is not applicable.
Education Cess.: It is 2 Per cent of IncomeTax.
Secondary Higher educ. Cess: It is 1 Per cent of IncomeTax and surcharge.
AT ANY TIME DURING PREVIOUS YEAR:
Surcharge Education Cess
Nil Nil
Nil 2% of incometax
Nil 2% of incometax
Nil 2% of incometax
10% of incometax 2% of incometax and surcharge
S OR MORE AT ANY TIME DURING PREVIOUS YEAR:
Surcharge Education Cess
Nil Nil
Nil 2% of incometax
Nil 2% of incometax
10% of incometax 2% of incometax and surcharge
CIAL JURIDICAL PERSON:
Surcharge Education Cess
Nil Nil
Nil 2% of incometax
Nil 2% of incometax
Nil 2% of incometax
10% of incometax 2% of incometax and surcharge
bellow
essment Year 2008 2009
If net Income does not exceed
Rs. 1 Crore
If net Income does not exceed
Rs. 1 Crore
10%
2.50%
eTax
If Book Profit does not exceed Rs. 1 Crore
SC EC
0.2
0.2
eTax and surcharge.
nt.
eTax and surcharge.
Secondary and Higher
Education cess
Nil
1% of incometax
1% of incometax
1% of incometax
1% of incometax and surcharge
Secondary and Higher
Education cess
Nil
1% of incometax
1% of incometax
1% of incometax and surcharge
Secondary and Higher
Education cess
Nil
1% of incometax
1% of incometax
1% of incometax
1% of incometax and surcharge
Assessment Year 2008 2009
eed Rs. 1 Crore
SHEC Total
0.1 10.3
0.1 10.3
essment Year 2008 2009
If Book Profit exceed Rs. 1 Crore
IT SC
10 1
10 0.25
If Book Profit exceed Rs. 1 Crore
EC SHEC
0.22 0.11
0.21 0.1
Total
11.33
10.56