03 April 2011
For individual and huf slab rates. Upto 1.6 lakh nil. 1.6 lakh to 3 lakh 10% 3 lakh to 5 lakh 20% above 5 lakh 30% and eductn nd she cess extra no surcharge whatever may b the income. For firms. Tax rate is 30% nd edu she cess no surcharge.
For indian companies 30% edu cess she cess surcharge if income exceeds 1 crore @ 7.5% for foreign companies 40% edu cess she cess surcharge if income exceeds 1 crore @ 2.5%
Assessee Income Tax "Surcharge (on Income Tax)" "Education Cess (on Income Tax and Surcharge" "Secondary and Higher Education Cess (on Income Tax and Surcharge" Firm 30% 0% 2% 1% "Co. - Domestic If net Income does not exceed Rs. 1 crore" 30% 0% 2% 1% "Co. - Domestic If net Income exceed Rs. 1 crore" 30% 5% 2% 1% "Co. - Foreign If net Income does not exceed Rs. 1 crore" 40% 0% 2% 1% "Co. - Foreign If net Income exceed Rs. 1 crore" 40% 2% 2% 1%
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