Rates of Income tax

Rates of Income Tax

Assessment year : 2013-14
Previous year : 2012-13

Upto Rs. 2,00,000 Nil
Rs. 2,00,001 to Rs. 5,00,000 10%
Rs. 5,00,001 to Rs. 10,00,000 20%
Above Rs. 10,00,000 30%
Upto Rs. 2,50,000 Nil
Rs. 2,50,001 to Rs. 5,00,000 10%
Rs. 5,00,001 to Rs. 10,00,000 20%
Above Rs. 10,00,000 30%
Upto Rs. 5,00,000 Nil
Rs. 5,00,001 to Rs. 10,00,000 20%
Above 10,00,0000 30%
Upto Rs. 2,00,000 Nil
Rs. 2,00,001 to Rs. 5,00,000 10%
Rs. 5,00,001 to Rs. 10,00,000 20%
Above Rs. 10,00,000 30%

Surcharge : Nil

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

Income tax : 30%

Surcharge : NIL

Education Cess : 2% on income-tax plus surcharge

Secondary and Higher Education cess : 1% on income-tax plus surcharge

(A) Domestic Companies

Income tax : 30%

Surcharge : 5% if the taxable income exceeds Rs. 100,00,000.

Education Cess : 2% on income-tax plus surcharge

Secondary and Higher Education cess : 1% on income-tax plus surcharge

(B) Foreign Companies

Income tax : 40%(In general)

50% on royalty or fee for technical services (agreement 1.04.1961 to 31.03.1976.)

Surcharge : 2% if the taxable income exceeds Rs. 100,00,000.

Education Cess : 2% on income-tax plus surcharge

Secondary and Higher Education cess : 1% on income-tax plus surcharge

Upto Rs. 10,000 10%
Rs. 10,001 to Rs. 20,000 20%
Above Rs.20,001 30%

Surcharge : Surcharge Is Not Applicable

Education Cess : 2% on income-tax

Secondary and Higher Education cess : 1% on income-tax

Income tax : 30%

Surcharge : NIL

Education Cess : 2% on income-tax plus Surcharge

Secondary and Higher Education cess : 1% on income-tax plus Surcharge

Assessment year : 2012-13
Previous year : 2011-12

Upto Rs. 1,90,000 Nil
Rs. 1,90,001 to Rs. 5,00,000 10%
Rs. 5,00,001 to Rs. 10,00,000 20%
Above Rs. 8,00,000 30%
Upto Rs. 2,50,000 Nil
Rs. 2,50,001 to Rs. 5,00,000 10%
Rs. 5,00,001 to Rs. 8,00,000 20%
Above Rs. 8,00,000 30%
Upto Rs. 5,00,000 Nil
Rs. 5,00,001 to Rs. 8,00,000 20%
Above 8,00,0000 30%
Upto Rs. 1,80,000 Nil
Rs. 1,80,001 to Rs. 5,00,000 10%
Rs. 5,00,001 to Rs. 8,00,000 20%
Above Rs. 8,00,000 30%

Surcharge : Nil

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

Income tax : 30%

Surcharge : NIL

Education Cess : 2% on income-tax plus surcharge

Secondary and Higher Education cess : 1% on income-tax plus surcharge

(A) Domestic Companies

Income tax : 30%

Surcharge : 5% if the taxable income exceeds Rs. 100,00,000.

Education Cess : 2% on income-tax plus surcharge

Secondary and Higher Education cess : 1% on income-tax plus surcharge

(B) Foreign Companies

Income tax : 40%(In general)

50% on royalty or fee for technical services (agreement 1.04.1961 to 31.03.1976.)

Surcharge : 2% if the taxable income exceeds Rs. 100,00,000.

Education Cess : 2% on income-tax plus surcharge

Secondary and Higher Education cess : 1% on income-tax plus surcharge

Upto Rs. 10,000 10%
Rs. 10,001 to Rs. 20,000 20%
Above Rs.20,001 30%

Surcharge : Surcharge Is Not Applicable

Education Cess : 2% on income-tax

Secondary and Higher Education cess : 1% on income-tax

Income tax : 30%

Surcharge : NIL

Education Cess : 2% on income-tax plus Surcharge

Secondary and Higher Education cess : 1% on income-tax plus Surcharge

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