Income Tax Rates

Individual/HUF/AOP/BOI

   Assessment Year:

  2009-10

  2010-11

  2011-12

  2012-13

  2013-14

   Basic Exemption:

  150000

  160000

  160000

  180000

  200000

 

  Upto

  300000

  10 %

  10 %

  10 %

  10 %

  10 %

  Next 200000

  Upto

  500000

  20 %

  20 %

  10 %

  10 %

  10 %

  Next 300000

  Upto

  800000

  30 %

  30 %

  20 %

  20 %

  20 %

  Next 200000

  Upto

  1000000

  30 %

  30 %

  30 %

  30 %

  30 %

  Rest

-          

-          

  30 %

  30 %

  30 %

  30 %

  30 %

  Surcharge (If Net Income exceeds Rs. 10 Lakhs)

  10 %

-          

-          

-          

-          

  Education Cess & SHE Cess

  3 %

  3 %

  3 %

  3 %

  3 %

  Basic Exemption:

  Very Senior Citizen ( 80 years and above

-          

-          

-          

  500000

  500000

  Senior Citizen ( 60 years or more) (65 years till 31.03.2011)

  225000

  240000

  240000

  250000

  250000

  Resident Women below 60 years (65 years till 31.03.2011)

  180000

  190000

  190000

  190000

  200000

Firm

  Assessment Year:

  2009-10

  2010-11

  2011-12

  2012-13

  2013-14

  Tax Rate

  30 %

  30 %

  30 %

  30 %

  30 %

  Surcharge (If Net Income exceeds Rs. 1 Crore)

  10 %

-          

-          

-          

-          

  Education Cess & SHE Cess

  3 %

  3 %

  3 %

  3 %

  3 %

LLP (Concept introduced from AY 2010-11)

  Assessment Year:

  2009-10

  2010-11

  2011-12

  2012-13

  2013-14

  Tax Rate

-          

  30 %

  30 %

  30 %

  30 %

  Surcharge (If Net Income exceeds Rs. 1 Crore)

-          

-          

-          

-          

-          

  Alternate Minimum Tax (AMT) (% of Adjusted Total Income) (Section 115JC)

-          

-          

-          

  18.5 %

  18.5 %

  Education Cess & SHE Cess

-          

  3 %

  3 %

  3 %

  3 %

Note: 115JC w.e.f 1st April, 2011
(i) Where the regular tax of any person other than a company is less than the AMT on adjusted total income, such person other than a company shall be liable to pay AMT.
(ii) Adjusted total income shall be the total income increased by deduction claimed, if any, under any section included in Chapter VIA and deduction claimed if any u/s 10AA.
(iii) AMT is applicable in case of every tax payer other than company an Individual, HUF, AOP, BOI or an artificial judicial person if Adjusted total income is Rs. 20 Lakhs or less (w.e.f FY 2012-13)

Domestic Company 

  Assessment Year:

  2009-10

  2010-11

  2011-12

  2012-13

  2013-14

  Tax Rate

  30 %

  30 %

  30 %

  30 %

  30 %

  Surcharge (If Net Income exceeds Rs. 1 Crore)

  10 %

  10 %

  7.5 %

  5 %

  5 %

  Alternate Minimum Tax (AMT) (% of Book Profit) (Section 115JB)

  10 %

  15 %

  18 %

  18.5 %

  18.5 %

  C/F of MAT Credit

  10 years

  10 years

  10 years

  10 years

  10 years

  Dividend Tax u/s 115-O

  15 %

  15 %

  15 %

  15 %

  15 %

  Surcharge

  10 %

  10 %

  7.5 %

  5 %

  5 %

  Education Cess & SHE Cess

  3 %

  3 %

  3 %

  3 %

  3 %