MANGSIDESH INVESTMENTS PVT.LTD
 
  MANGSIDESH INVESTMENTS PVT.LTD
Distributors
402, Business Point, Behind Brahma Kumari Hosp, Andheri (West), Mumbai 400 058.
Tel.  : +91-22-4233 2323,  +91-22-6584 1233,  +91-22-6523 8964
 
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Taxation
 
 

  • Tax Planing
  • Tax Savings Products u/s 80C and 80D etc of the I.T. Act.
  • Filing of Income Tax Returns for Salaried Individuals; HUFs; Partnership Firms; Trust and Other assesss undertaken.

TAX RATE FOR ASSESSMENT YEAR 2010-2011 (Financial Year : 1.4.2009 to 31.3.2010)
(A) FOR ANY INDIVIDUAL, EVERY HUF/AOP/BOI/ARTIFICIAL JURIDICAL PERSON:-

Net Income Range (Rs.)
Income Tax Rates
Education Cess
Secondary and Higher Education cess
Up to Rs. 1,60,000 Nil Nil Nil
1,60,000 - 3,00,000 10% of (Total Income minus Rs 1,60,000) 2% of income-tax 1% of income-tax
3,00,000 - 5,00,000 Rs. 14,000 + 20% of (Total Income minus Rs 1,50,000) 2% of income-tax 1% of income-tax
5,00,000 - 10,00,000 Rs. 54,000 + 30% of (Total Income minus Rs 1,60,000) 2% of income-tax 1% of income-tax
Above 10,00,000 Rs. 2,04,000 + 30% of (Total Income minus Rs 1,60,000) 2% of income-tax 1% of income-tax

B) FOR RESIDENT WOMAN HAVING AGE BELOW 65 YEARS AT ANY TIME DURING THE PREVIOUS YEAR:-

Net Income Range (Rs.)
Income Tax Rates
Surcharge
Education Cess
Secondary and Higher Education cess
Up to Rs. 1,90,000 Nil Nil Nil Nil
1,90,000 - 3,00,000 10% of (Total Income minus Rs 1,80,000) Nil 2% of income-tax 1% of income-tax
3,00,000 - 5,00,000 Rs. 11,000 + 20% of (Total Income minus Rs 1,90,000) Nil 2% of income-tax 1% of income-tax
5,00,000 - 10,00,000 Rs. 51,000 + 30% of (Total Income minus Rs 1,90,000) Nil 2% of income-tax 1% of income-tax
Above 10,00,000 Rs. 2,01,000 + 30% of (Total Income minus Rs 1,90,000) 10% of income-tax 2% of income-tax and surcharge 1% of income-tax

C) FOR RESIDENT SENIOR CITIZEN HAVING AGE OF 65 YEARS OR MORE AT ANY TIME DURING PREVIOUS YEAR:-

Net Income Range (Rs.)
Income Tax Rates
Surcharge
Education Cess
Secondary and Higher Education cess
Up to Rs. 2,40,000 Nil Nil Nil Nil
2,40,000 - 3,00,000 10% of (Total Income minus Rs 2,25,000) Nil 2% of income-tax 1% of income-tax
3,00,000 - 5,00,000 Rs. 7,500 + 20% of (Total Income minus Rs 2,25,000) Nil 2% of income-tax 1% of income-tax
5,00,000 - 10,00,000 Rs. 47,500 + 30% of (Total Income minus Rs 2,25,000) Nil 2% of income-tax 1% of income-tax
Above 10,00,000 Rs. 1,97,500 + 30% of (Total Income minus Rs 2,25,000) 10% of income-tax 2% of income-tax 1% of income-tax

D) FIRM:-

Basic Rate 30% of Total Income
Surcharge (applicable only if Total Income exceeds Rs. 1 Crore) 10% of Income-Tax
Education Cess 2% of Income-Tax
Secondary Higher education Cess 1% of Income-Tax
Tax Rate without Surcharge being total of 30% + 2% + 1% = 30.90 %
Tax Rate with Surcharge being total of 30% + 10% + 2% + 1% = 33.99 %
Note : Surcharge will be applicable if total income exceeds Rs. 1 crore.

(E) COMPANIES:-

Residential Status of the Company
Basic Rate of Income-Tax
Surcharge
Total Income <= 1 Cr. Total Income > 1 Cr.
Domestic company 30 % Nil 10 %
Foreign Company
Royalty received from Government or an Indian concern in pursuance of an agreement made by it with the Indian concern after March 31, 1961, but before April 1, 1976, or fees for rendering technical service in pursuance of an agreement which, in either case, has been approved by the Central Government;
50 % Nil 2.5 %
Any Income other than the above 40 % Nil 2.5 %
Education Cess.:- 2 % of Income-Tax;
Secondary Higher Education Cess:- 1 % of Income-Tax.

(F) MINIMUM ALTERNATE TAX (applicable only to companies)

Residential Status of the Company Book Profit <= 1 Cr. Book Profit > 1 Cr.
  IT SC EC SHEC Total IT SC EC SHEC Total
Domestic Company
15
-
0.30
0.15
10.30
10
1.00
0.220
0.1100
11.3300
Foreign Company
15
-
0.30
0.15
10.30
10
0.25
0.205
0.1025
10.5575

G) CO-OPERATIVE SOCIETIES:-

Net Income Range Rate of Income-Tax
Up to Rs. 10,000
10%
Rs. 10,000 - Rs. 20,000
20%
Rs. 20,000 and above
30%
Surcharge: - Surcharge is not applicable.
Education Cess: - 2 % of Income-Tax.
Secondary and Higher Education Cess : - 2 % of Income-Tax.

H) LOCAL AUTHORITIES:-

Net Income Range Rate of Income-Tax
Basic Rate
30 %
Surcharge
Not Applicable
Education Cess
2 %
Secondary and Higher Education Cess
1 %
 
 
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