. 1. Individual resident aged below 60 years
(i.e. born on or after 1st April 1955)
or any NRI / HUF / AOP / BOI / AJP*
Income Tax :
Income Slabs
|
Tax Rates
|
|
i.
|
Where the total income does not exceed Rs. 2,50,000/-.
|
NIL
|
ii.
|
Where the total income exceeds Rs. 2,50,000/- but does not
exceed Rs. 5,00,000/-.
|
10% of amount by which the total income exceeds Rs.
2,50,000/-.
Less** : Tax Credit - 10% of taxable income upto a maximum of Rs. 2000/-. |
iii.
|
Where the total income exceeds Rs. 5,00,000/- but does not
exceed Rs. 10,00,000/-.
|
Rs. 25,000/- + 20% of the amount by which the total income
exceeds Rs. 5,00,000/-.
|
iv.
|
Where the total income exceeds Rs. 10,00,000/-.
|
Rs. 125,000/- + 30% of the amount by which the total
income exceeds Rs. 10,00,000/-.
|
** Applicable in case
of Resident Individuals only.
Surcharge : 10% of the Income Tax, where total taxable income is more
than Rs. 1 crore. (Marginal Relief in Surcharge, if
applicable)
Education Cess : 3% of the total of Income Tax and Surcharge.
-----------------------------------------------------------------------------------------------------------------
2. Individual resident who is of the age of
60 years or more but below the age of
80 years at any time during the
. previous year (i.e. born on or after 1st April 1934 but
before 1st April 1954)
Income Tax :
Income Slabs
|
Tax Rates
|
|
i.
|
Where the total income does not exceed Rs. 3,00,000/-.
|
NIL
|
ii.
|
Where the total income exceeds Rs. 3,00,000/- but does not
exceed Rs. 5,00,000/-
|
10% of the amount by which the total income exceeds Rs.
3,00,000/-.
Less : Tax Credit - 10% of taxable income upto a maximum of Rs. 2000/-. |
iii.
|
Where the total income exceeds Rs. 5,00,000/- but does not
exceed Rs. 10,00,000/-
|
Rs. 20,000/- + 20% of the amount by which the total income
exceeds Rs. 5,00,000/-.
|
iv.
|
Where the total income exceeds Rs. 10,00,000/-
|
Rs. 120,000/- + 30% of the amount by which the total
income exceeds Rs. 10,00,000/-.
|
Surcharge : 10% of the Income Tax, where total taxable income is more
than Rs. 1 crore. (Marginal Relief in Surcharge, if
applicable)
Education Cess : 3% of the total of Income Tax and Surcharge.
-----------------------------------------------------------------------------------------------------------------
3. Individual resident who is of the age of 80
years or more
at
any time during the previous year
(i.e. born before 1st April 1934)
(i.e. born before 1st April 1934)
Income Tax :
Income Slabs
|
Tax Rates
|
|
i.
|
Where the total income does not exceed Rs. 5,00,000/-.
|
NIL
|
ii.
|
Where the total income exceeds Rs. 5,00,000/- but does not
exceed Rs. 10,00,000/-
|
20% of the amount by which the total income exceeds Rs.
5,00,000/-.
|
iii.
|
Where the total income exceeds Rs. 10,00,000/-
|
Rs. 100,000/- + 30% of the amount by which the total
income exceeds Rs. 10,00,000/-.
|
Surcharge : 10% of the Income Tax, where total taxable income is more
than Rs. 1 crore. (Marginal Relief in Surcharge, if applicable)
Education Cess : 3% of the total of Income Tax and Surcharge.
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ReplyDeletevery nice post dear friend
ReplyDeletethankss
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