Income Tax rates
|
for A.Y. 2010-11 |
for A.Y. 2011-12 |
|
|
1A) Individual other than referred in 1B, & 1C and HUF and [AOP and BOI subject to section 167B] and Artificial juridical person |
||
|
From Upto rates Rs.0/- Rs.160000/-* 0% Rs.160000/-* Rs.300000/- 10% Rs.300000/- Rs.500000/- 20% Rs.500000/- 30% |
From Upto rates Rs.0/- Rs.160000/-* 0% Rs.160000/-* Rs.500000/- 10% Rs.500000/- Rs.800000/- 20% Rs.800000/- 30% |
|
|
|
||
|
1B) individual being a woman resident in India age below 65 years |
||
|
* will replace by Rs.190000/- |
* will be replaced by Rs.190000/- |
|
|
|
|
|
|
1C) individual being resident in India age of 65 years or more |
||
|
* will replace by Rs.240000/- |
* will be replaced by Rs.240000/- |
|
|
2) Co-operative society |
|
|
|
From Upto rates Rs.0/- Rs.10000/- 10% Rs.10000/- Rs.20000/- 20% Rs.20000/- 30% |
|
|
|
|
|
|
|
3) Local Authority, Firm, Domestic Company - 30% |
||
|
4) Foreign Company – 40% [50% in case of royalty……….technical services…... |
||
|
|
|
|
|
Surcharge on Income:- |
||
|
Individual – Nil |
|
|
|
Co-operative, Local Authority – nil |
Nil |
|
|
Domestic Company– 10% if total income exceeds Rs.1 crore. |
7.5% if total income exceeds Rs.1 crore. |
|
|
Foreign Company – 2.5% if total income exceeds Rs.1 crore. |
2.5% if total income exceeds Rs.1 crore. |
|
|
|
|
|
|
Marginal Relief: in all the above cases income tax plus surcharge will be restricted to: |
||
|
(Tax on Rs.1 crore) + (Total income –Rs.1 crore) |
||
|
|
|
|
|
Education Cess: @ 2% on the income tax plus surcharge |
||
|
Higher Education Cess: @ 1% on the income tax plus surcharge |
||
CAclubindia
