Income tax
This query is : Resolved
25 August 2009
Can anyone please give me the tax rates for Advance tax calculations for the AY 2010-11
28 August 2009
Personal Taxation
Residential Women below 65yrs Upto Rs. 190000 NIL
of age Rs. 190001-Rs. 300000 (Taxable Income-Rs.190000)*10.30%
Rs. 300001-Rs.500000 (Taxable Income-Rs.300000)*20.60%+Rs.11330
Rs.500001 and above (Taxable Income-Rs.500000)*30.90%+Rs.52530
Residential individuals 65yrs and Upto Rs. 240000 NIL
above Rs. 240001-Rs300000 (Taxable Income - Rs.240000)*10.30%
Rs 300001-Rs.500000 (Taxable Income - Rs.300000)*20.60%+Rs.6180
Rs.500001 and above (Taxable Income - Rs.500000)*30.90%+Rs.47380
Other individuals, Upto Rs. 160000 NIL
hindu undivided family, Rs. 160001-300000 (Taxable Income - Rs.160000)*10.30%
association of persons and Rs.300001-500000 (Taxable Income - Rs.300000)*20.60%+Rs.14420
body of individuals Rs.500001 and above (Taxable Income - Rs.500000)*30.90%+Rs.55620
Firm Taxation
All firms Rs. 5 and above 30.90% on taxable income
Corporate Taxation
Domestic company Rs. 5 - Rs. 10000000 30.90% on taxable income
Above 10000000 33.99% on taxable income
Foreign Company Rs. 5 - Rs. 10000000 41.20% on taxable income
Above 10000000 42.23% on taxable income
Minimun Alternate Tax
Domestic company Rs. 5 - Rs. 10000000 15.45% on book profit
Above 10000000 16.995% on book profit
Foreign Company Rs. 5 - Rs. 10000000 15.45% on book profit
Above 10000000 15.83625% on book profit
Note: The above rates are inclusive of surcharge,education cess and
higher education cess wherever applicable.
Residential Women below 65yrs Upto Rs. 190000 NIL
of age Rs. 190001-Rs. 300000 (Taxable Income-Rs.190000)*10.30%
Rs. 300001-Rs.500000 (Taxable Income-Rs.300000)*20.60%+Rs.11330
Rs.500001 and above (Taxable Income-Rs.500000)*30.90%+Rs.52530
Residential individuals 65yrs and Upto Rs. 240000 NIL
above Rs. 240001-Rs300000 (Taxable Income - Rs.240000)*10.30%
Rs 300001-Rs.500000 (Taxable Income - Rs.300000)*20.60%+Rs.6180
Rs.500001 and above (Taxable Income - Rs.500000)*30.90%+Rs.47380
Other individuals, Upto Rs. 160000 NIL
hindu undivided family, Rs. 160001-300000 (Taxable Income - Rs.160000)*10.30%
association of persons and Rs.300001-500000 (Taxable Income - Rs.300000)*20.60%+Rs.14420
body of individuals Rs.500001 and above (Taxable Income - Rs.500000)*30.90%+Rs.55620
Firm Taxation
All firms Rs. 5 and above 30.90% on taxable income
Corporate Taxation
Domestic company Rs. 5 - Rs. 10000000 30.90% on taxable income
Above 10000000 33.99% on taxable income
Foreign Company Rs. 5 - Rs. 10000000 41.20% on taxable income
Above 10000000 42.23% on taxable income
Minimun Alternate Tax
Domestic company Rs. 5 - Rs. 10000000 15.45% on book profit
Above 10000000 16.995% on book profit
Foreign Company Rs. 5 - Rs. 10000000 15.45% on book profit
Above 10000000 15.83625% on book profit
Note: The above rates are inclusive of surcharge,education cess and
higher education cess wherever applicable.
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