- INDIVIDUAL/HUF/AOP/BOI/AJP :
| Net income range | Rate |
| Up to Rs. 2,50,000 | – |
| Rs. 2,50,000 to Rs. 5,00,000 | 5% |
| Rs. 5,00,000 to Rs. 10,00,000 | 20% |
| Above Rs. 10,00,000 | 30% |
SENIOR CITIZEN (60Yrs <= Age < 80Yrs)
| Net income range | Rate |
| Up to Rs. 3,00,000 | – |
| Rs. 3,00,000 to Rs. 5,00,000 | 5% |
| Rs. 5,00,000 to Rs. 10,00,000 | 20% |
| Above Rs. 10,00,000 | 30% |
SUPER SENIOR CITIZEN ( 80 Yrs or more)
| Net income range | Rate |
| Up to Rs. 5,00,000 | – |
| Rs. 5,00,000 to Rs. 10,00,000 | 20% |
| Above Rs. 10,00,000 | 30% |
SURCHARGE:
| Rs. 50 Lakhs – Rs. 1 Crore | Rs. 1 Crore – Rs. 2 Crores | Rs. 2 Crores – Rs. 5 Crores | Rs. 5 crores – Rs. 10 Crores | Exceeding Rs. 10 Crores |
| 10% | 15% | 25% | 37% | 37% |
Note:The enhanced surcharge of 25% & 37%, as the case may be, is not levied, from income chargeable to tax under sections 111A, 112A and 115AD. Hence, the maximum rate of surcharge on tax payable on such incomes shall be 15%.The above mentioned surcharge shall be subject to marginal relief.
2. PARTNERSHIP FIRMS/LLP :Tax rate of 30%
SURCHARGE:The amount of income-tax shall be increased by a surcharge at the rate of 12% of such tax, where total income exceeds one crore rupees. However, the surcharge shall be subject to marginal relief .
3. CO-OPERATIVE SOCIETY:
| Taxable income | Tax Rate |
| Up to Rs. 10,000 | 10% |
| Rs. 10,000 to Rs. 20,000 | 20% |
| Above Rs. 20,000 | 30% |
SURCHARGE:The amount of income-tax shall be increased by a surcharge at the rate of 12% of such tax, where total income exceeds one crore rupees. However, the surcharge shall be subject to marginal relief.
4. DOMESTIC COMPANY :
| Particulars | Rates |
| Total turnover or gross receipts during the previous year 2017-18 does not exceed Rs. 400 crores | 25% |
| Opted for Section 115BA | 25% |
| Opted for Section 115BAA | 22% |
| Opted for Section 115BAB | 15% |
| Any other domestic company | 30% |
SURCHARGE:The amount of income-tax shall be increased by a surcharge at the rate of 7% of such tax, where total income exceeds one crore rupees but not exceeding ten crore rupees and at the rate of 12% of such tax, where total income exceeds ten crore rupees.
5. FOREIGN COMPANY:
| Nature of Income | Tax Rate |
| Royalty received from Government or an Indian concern or fees for rendering technical services where such agreement has been approved by the Central Government | 50% |
| Any other income | 40% |
SURCHARGE: The amount of income-tax shall be increased by a surcharge at the rate of 2% of such tax, where total income exceeds one crore rupees but not exceeding ten crore rupees and at the rate of 5% of such tax, where total income exceeds ten crore rupees. However, the surcharge shall be subject to marginal relief.
6. LOCAL AUTHORITY :A local authority is taxable at 30%
SURCHARGE: The amount of income-tax shall be increased by a surcharge at the rate of 12% of such tax, where total income exceeds one crore rupees. However, the surcharge shall be subject to marginal relief.
- CESS & REBATE :
- Health and Education Cess:The amount of income-tax and the applicable surcharge, shall be further increased by health and education cess calculated at the rate of four percent of such income-tax and surcharge.
- Rebate u/s 87a: A resident individual (whose net income does not exceed Rs. 5,00,000) can avail rebate under section 87A. It is deductible from income-tax before calculating education cess. The amount of rebate is 100 per cent of income-tax or Rs. 12,500, whichever is less.
