Income Tax Slab Rate


Individuals and HUF

In the case of every Individual or Hindu undivided family or AOP/BOI whether incorporated or not, or every artificial judicial person.

individuals-and-HUF limit

In the case of every individual, being a resident in India, who is the age of 60 years or more but less than 80 years at any time during the previous year.

Up to Rs. 3,00,000 Nil
Rs. 3,00,010 to Rs. 5,00,000 10%
Rs. 5,00,010 to Rs. 10,00,000 20%
Above Rs. 10,00,000 30%

In the case of every individual, being a resident in India, who is the age of 80 years or more at any time during the previous year.

Up to Rs. 5,00,000 Nil
Rs. 5,00,010 to Rs. 10,00,000 10%
Above Rs. 10,00,000 20%

Business

In the case of every co-operative society

Total Income does not exceed Rs. 10,000 10% of the total income
Total Income exceeds Rs. 10,000 but does not exceed Rs. 20,000 Rs. 1000 plus 20% of the total amount by which the total income exceeds Rs. 10,000
Total Income exceeds Rs. 30,000 Rs. 3000 plus 30% of the total amount by which the total income exceeds Rs. 20,000

In the case of any firm, 30%

  • The amount of income tax computed as per the normal and special rates shall be increased by a surcharge at the rate of 12% of such income-tax in case of a firm having a total income exceeding Rs. 1 crore.

In the case of a company

  • For domestic companies: 30%
  • For foreign company: 40%