TMI BlogIncome Tax Rates for Individuals, HUF & Artificial Juridical Person - A.Y. 2007-08 to A.Y. 2024-25X X X X Extracts X X X X X X X X Extracts X X X X ..... Special Rates for Resident Senior Citizen (who is 60 years or more at any time during the previous year) Net Income Range Income Tax Rates Tax Upto ₹ 3,00,000 Nil Nil ₹ 3,00,000 - ₹ 5,00,000 5% 5% of total income minus ₹ 3,00,000 See Notes ₹ 5,00,000 - ₹ 10,00,000 20% ₹ 10,000 + 20% of total income minus ₹ 5,00,000 --do-- Above ₹ 10,00,000 30% ₹ 1,10,000 + 30% of total income minus ₹ 10,00,000 --do-- Special Rates for Resident Super Senior Citizen (who is 80 years or more at any time during the previous year) Net Income Range Income Tax Rates Tax Upto ₹ 5,00,000 Nil Nil See Notes ₹ 5,00,000 - ₹ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... #8377; 12,500 + 20% of total income minus ₹ 5,00,000 --do-- Above ₹ 10,00,000 30% ₹ 1,12,500 + 30% of total income minus ₹ 10,00,000 --do-- Special Rates for Resident Senior Citizen (who is 60 years or more at any time during the previous year) Net Income Range Income Tax Rates Tax Upto ₹ 3,00,000 Nil Nil ₹ 3,00,000 - ₹ 5,00,000 5% 5% of total income minus ₹ 3,00,000 See Notes ₹ 5,00,000 - ₹ 10,00,000 20% ₹ 10,000 + 20% of total income minus ₹ 5,00,000 --do-- Above ₹ 10,00,000 30% ₹ 1,10,000 + 30% of total income minus ₹ 10,00,000 --do-- Special Rates for Resident Super Senior Citizen (who is 80 years or more at any time during the previous yea ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... See Notes ₹ 5,00,000 - ₹ 10,00,000 20% ₹ 12,500 + 20% of total income minus ₹ 5,00,000 --do-- Above ₹ 10,00,000 30% ₹ 1,12,500 + 30% of total income minus ₹ 10,00,000 --do-- Special Rates for Resident Senior Citizen (who is 60 years or more at any time during the previous year) Net Income Range Income Tax Rates Tax Upto ₹ 3,00,000 Nil Nil ₹ 3,00,000 - ₹ 5,00,000 5% 5% of total income minus ₹ 3,00,000 See Notes ₹ 5,00,000 - ₹ 10,00,000 20% ₹ 10,000 + 20% of total income minus ₹ 5,00,000 --do-- Above ₹ 10,00,000 30% ₹ 1,10,000 + 30% of total income minus ₹ 10,00,000 --do-- Spe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... See Notes ₹ 5,00,000 - ₹ 10,00,000 20% ₹ 12,500 + 20% of total income minus ₹ 5,00,000 --do-- Above ₹ 10,00,000 30% ₹ 1,12,500 + 30% of total income minus ₹ 10,00,000 --do-- Special Rates for Resident Senior Citizen (who is 60 years or more at any time during the previous year) Net Income Range Income Tax Rates Tax Upto ₹ 3,00,000 Nil Nil ₹ 3,00,000 - ₹ 5,00,000 5% 5% of total income minus ₹ 3,00,000 See Notes ₹ 5,00,000 - ₹ 10,00,000 20% ₹ 10,000 + 20% of total income minus ₹ 5,00,000 --do-- Above ₹ 10,00,000 30% ₹ 1,10,000 + 30% of total income minus ₹ 10,00,000 --do-- Sp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 5% 5% of total income minus ₹ 2,50,000 See Notes ₹ 5,00,000 - ₹ 10,00,000 20% ₹ 12,500 + 20% of total income minus ₹ 5,00,000 --do-- Above ₹ 10,00,000 30% ₹ 1,12,500 + 30% of total income minus ₹ 10,00,000 --do-- Special Rates for Resident Senior Citizen (who is 60 years or more at any time during the previous year) Net Income Range Income Tax Rates Tax Upto ₹ 3,00,000 Nil Nil ₹ 3,00,000 - ₹ 5,00,000 5% 5% of total income minus ₹ 3,00,000 See Notes ₹ 5,00,000 - ₹ 10,00,000 20% ₹ 10,000 + 20% of total income minus ₹ 5,00,000 --do-- Above ₹ 10,00,000 30% ₹ 1,10 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Special Rates for Resident Senior Citizen (who is 60 years or more at any time during the previous year) Net Income Range Income Tax Rates Tax Upto ₹ 3,00,000 Nil Nil ₹ 3,00,000 - ₹ 5,00,000 5% 5% of total income minus ₹ 3,00,000 See Notes ₹ 5,00,000 - ₹ 10,00,000 20% ₹ 10,000 + 20% of total income minus ₹ 5,00,000 --do-- Above ₹ 10,00,000 30% ₹ 1,10,000 + 30% of total income minus ₹ 10,00,000 --do-- Special Rates for Resident Super Senior Citizen (who is 80 years or more at any time during the previous year) Net Income Range Income Tax Rates Tax Upto ₹ 5,00,000 Nil Nil See ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ome minus ₹ 5,00,000 --do-- Above ₹ 10,00,000 30% ₹ 1,10,000 + 30% of total income minus ₹ 10,00,000 --do-- Special Rates for Resident Super Senior Citizen (who is 80 years or more at any time during the previous year) Net Income Range Income Tax Rates Tax Upto ₹ 5,00,000 Nil Nil See Notes ₹ 5,00,000 - ₹ 10,00,000 20 20% of total income minus ₹ 5,00,000 --do-- Above ₹ 10,00,000 30% ₹ 1,00,000 + 30% of total income minus ₹ 10,00,000 --do-- Notes: for the Assessment Year 2018-2019 Note 1: - Add Surcharge - 10% if income exceeds ₹ 50 Lakhs but does not exceed 1 Crores - with marginal relief. Note 1: - Add Surcharge - 15% if income exceeds ₹ 1 Crores - with marginal relief. Note 2: - Add ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Nil See Notes ₹ 5,00,000 - ₹ 10,00,000 20 20% of total income minus ₹ 5,00,000 --do-- Above ₹ 10,00,000 30% ₹ 1,00,000 + 30% of total income minus ₹ 10,00,000 --do-- Notes: for the Assessment Year 2017-2018 Note 1: - Add Surcharge - 15% if income exceeds ₹ 1 Crores - with marginal relief. Note 2: - Add Education Cess - E. Cess is 2% of Income Tax Surcharge Note 3: - Add Secondary and Higher Education Cess - SHE. Cess is 1% of Income Tax Surcharge Note 4:- Rebate - Upto ₹ 5,000 U/s 87A - Any individual who is resident in India is eligible for this rebate, if total income is not exceeding ₹ 500,000 This rebate is not allowed to HUF, AOP or BOI. ================================ Rates of Income Tax as applicable to Individuals, Hindu Undivided Families (HUF) and Artificial Juridical Person: Rates For the Assessment Year 2016-2017 Click here for Alternate Minimum Tax (AMT) Ne ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Assessment Year 2016-2017 Note 1: - Add Surcharge - 12% if income exceeds ₹ 1 Crores - with marginal relief. Note 2: - Add Education Cess - E. Cess is 2% of Income Tax Surcharge Note 3: - Add Secondary and Higher Education Cess - SHE. Cess is 1% of Income Tax Surcharge Note 4:- Rebate - Upto ₹ 2,000 U/s 87A - Any individual who is resident in India is eligible for this rebate, if total income is not exceeding ₹ 500,000 This rebate is not allowed to HUF, AOP or BOI. ================================ Income Tax Rates for Individuals, HUF Artificial Juridical Person Rates of Income Tax as applicable to Individuals, Hindu Undivided Families (HUF) and Artificial Juridical Person: Rates For the Assessment Year 2015-2016 Click here for Alternate Minimum Tax (AMT) Net Income Range Income Tax Rates Tax Upto ₹ 2,50,000 Nil Nil ₹ 2,50,000 - ₹ 5,00,000 10% 10% of total income minus ₹ 2, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... bate - Upto ₹ 2,000 U/s 87A - Any individual who is resident in India is eligible for this rebate, if total income is not exceeding ₹ 500,000 This rebate is not allowed to HUF, AOP or BOI. ================================ Income Tax Rates for Individuals, HUF and Artificial Juridical Person Rates of Income Tax as applicable to Individuals, Hindu Undivided Families (HUF) and Artificial Juridical Person: Rates For the Assessment Year 2014-2015 Net Income Range Income Tax Rates Tax Upto ₹ 2,00,000 Nil Nil ₹ 2,00,000 - ₹ 5,00,000 10% 10% of total income minus ₹ 2,00,000 See Notes ₹ 5,00,000 - ₹ 10,00,000 20% ₹ 30,000 + 20% of total income minus ₹ 5,00,000 --do-- Above 10,00,000 30% ₹ 1,30,000 + 30% of total income minus ₹ 10,00,000 --do-- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Minimum Tax (AMT) Rates For the Assessment Year 2013-2014 Net Income Range Income Tax Rates Tax Upto ₹ 2,00,000 Nil Nil ₹ 2,00,000 - ₹ 5,00,000 10% 10% of total income minus ₹ 2,00,000 See Notes ₹ 5,00,000 - ₹ 10,00,000 20% ₹ 30,000 + 20% of total income minus ₹ 5,00,000 --do-- Above 10,00,000 30% ₹ 1,30,000 + 30% of total income minus ₹ 10,00,000 --do-- Special Rates for Resident Women (who is below 60 years at any time during the previous year): - Not applicable w.e.f A.Y 2013-14 Special Rates for Resident Senior Citizen (who is 60 years or more at any time during the previous year) Net Income Range Income Tax Rates Tax Upto ₹ 2,50,000 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... --do-- Special Rates for Resident Women (who is below 60 years at any time during the previous year) Net Income Range Income Tax Rates Tax Upto ₹ 1,90,000 Nil Nil ₹ 1,90,000 - ₹ 5,00,000 10% 10% of total income minus ₹ 1,90,000 See Notes ₹ 5,00,000 - ₹ 8,00,000 20% ₹ 31,000 + 20% of total income minus ₹ 5,00,000 --do-- Above 8,00,000 30% ₹ 91,000 + 30% of total income minus ₹ 8,00,000 --do-- Special Rates for Resident Senior Citizen (who is 60 years or more at any time during the previous year) Net Income Range Income Tax Rates Tax Upto ₹ 2,50,000 Nil Nil & ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... at any time during the previous year) Net Income Range Income Tax Rates Tax Upto ₹ 1,90,000 Nil Nil ₹ 1,90,000 - ₹ 5,00,000 10% 10% of total income minus ₹ 1,90,000 See Notes ₹ 5,00,000 - ₹ 8,00,000 20% ₹ 31,000 + 20% of total income minus ₹ 5,00,000 --do-- Above 8,00,000 30% ₹ 91,000 + 30% of total income minus ₹ 8,00,000 --do-- Special Rates for Resident Senior Citizen (who is 65 years or more at any time during the previous year) Net Income Range Income Tax Rates Tax Upto ₹ 2,40,000 Nil Nil ₹ 2,40,000 - ₹ 5,00,000 10% 10% of total income minus ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r Citizen (who is 65 years or more at any time during the previous year) Net Income Range Income Tax Rates Tax Upto ₹ 2,40,000 Nil Nil ₹ 2,40,000 - ₹ 3,00,000 10% 10% of total income minus ₹ 2,40,000 See Notes ₹ 3,00,000 - ₹ 5,00,000 20% ₹ 6,000 + 20% of total income minus ₹ 3,00,000 --do-- Above 5,00,000 30% ₹ 46,000 + 30% of total income minus ₹ 5,00,000 --do-- Notes for the Assessment Year 2010-2011 Note 1: - Add Surcharge - Nil Note 2: - Add Education Cess - E. Cess is 2% of Income Tax (rebate u/s 88E is not deductible) Note 3: - Add Secondary and Higher Education Cess - SHE. Cess is 1% of Income Tax (rebate u/s 88E is not deductible) ================================ Rates For the Assessment Year 2009-2010 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Note 1: - Add Surcharge - Surcharge is 10% of income-tax (After deducting Rebate u/s 88E if any) if net income of an Individual, HUF exceeds ₹ 10,00,000. However, in the case of Artificial Jurisdictional Person surcharge is applicable even if net income does not exceed ₹ 10,00,000. Surcharge is subject to marginal Relief. Note 2: - Add Education Cess - E. Cess is 2% of Income Tax (rebate u/s 88E is not deductible) plus surcharge Note 3: - Add Secondary and Higher Education Cess - SHE. Cess is 1% of Income Tax (rebate u/s 88E is not deductible) plus surcharge ================================ Rates For the Assessment Year 2008-2009 Net Income Range Income Tax Rates Tax Upto ₹ 1,10,000 Nil Nil ₹ 1,10,000 - ₹ 1,50,000 10% 10% of total income minus ₹ 1,10,000 See Notes ₹ 1,50,000 - ₹ 2,50,000 20% ₹ 4,000 + 20% of total income min ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Net Income Range Income Tax Rates Tax Upto ₹ 1,00,000 Nil Nil ₹ 1,00,000 - ₹ 1,50,000 10% 10% of total income minus ₹ 1,00,000 See Notes ₹ 1,50,000 - ₹ 2,50,000 20% ₹ 5,000 + 20% of total income minus ₹ 1,50,000 --do-- Above 2,50,000 30% ₹ 25,000 + 30% of total income minus ₹ 2,50,000 --do-- Special Rates for Resident Women (who is below 65 years at any time during the previous year) Net Income Range Income Tax Rates Tax Upto ₹ 1,35,000 Nil Nil ₹ 1,35,000 - ₹ 1,50,000 10% 10% of total income minus ₹ 1,35,000 See Notes ..... X X X X Extracts X X X X X X X X Extracts X X X X
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