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- 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 |
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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 |
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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 |
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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. |
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(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. |
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(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 |
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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. |
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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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