Rates For the Assessment Year 2011-2012
| Net Income Range | Income Tax Rates | Tax | |
| Upto Rs. 1,60,000 | Nil | Nil | |
| Rs. 1,60,000 - Rs. 5,00,000 | 10% | 10% of total income minus Rs. 1,60,000 | See Notes |
| Rs. 5,00,000 - Rs. 8,00,000 | 20% | Rs. 34,000 + 20% of total income minus Rs. 5,00,000 | --do-- |
| Above 8,00,000 | 30% | Rs. 94,000 + 30% of total income minus Rs. 8,00,000 | --do-- |
| Net Income Range | Income Tax Rates | Tax | |
| Upto Rs. 1,90,000 | Nil | Nil | |
| Rs. 1,90,000 - Rs. 5,00,000 | 10% | 10% of total income minus Rs. 1,90,000 | See Notes |
| Rs. 5,00,000 - Rs. 8,00,000 | 20% | Rs. 31,000 + 20% of total income minus Rs. 5,00,000 | --do-- |
| Above 8,00,000 | 30% | Rs. 91,000 + 30% of total income minus Rs. 8,00,000 | --do-- |
| Net Income Range | Income Tax Rates | Tax | |
| Upto Rs. 2,40,000 | Nil | Nil | |
| Rs. 2,40,000 - Rs. 5,00,000 | 10% | 10% of total income minus Rs. 2,40,000 | See Notes |
| Rs. 5,00,000 - Rs. 8,00,000 | 20% | Rs. 26,000 + 20% of total income minus Rs. 5,00,000 | --do-- |
| Above 8,00,000 | 30% | Rs. 86,000 + 30% of total income minus Rs. 8,00,000 | --do-- |
Note 1: - Add Surcharge - Nil
Note 2: - Add Education Cess - E. Cess is 2% of Income Tax
Note 2: - Add Secondary and Higher Education Cess - SHE. Cess is 1% of Income Tax
Rates For the Assessment Year 2010-2011
| Net Income Range | Income Tax Rates | Tax | |
| Upto Rs. 1,60,000 | Nil | Nil | |
| Rs. 1,60,000 - Rs. 3,00,000 | 10% | 10% of total income minus Rs. 1,60,000 | See Notes |
| Rs. 3,00,000 - Rs. 5,00,000 | 20% | Rs. 14,000 + 20% of total income minus Rs. 3,00,000 | --do-- |
| Above 5,00,000 | 30% | Rs. 54,000 + 30% of total income minus Rs. 5,00,000 | --do-- |
| Net Income Range | Income Tax Rates | Tax | |
| Upto Rs. 1,90,000 | Nil | Nil | |
| Rs. 1,90,000 - Rs. 3,00,000 | 10% | 10% of total income minus Rs. 1,90,000 | See Notes |
| Rs. 3,00,000 - Rs. 5,00,000 | 20% | Rs. 11,000 + 20% of total income minus Rs. 3,00,000 | --do-- |
| Above 5,00,000 | 30% | Rs. 51,000 + 30% of total income minus Rs. 5,00,000 | --do-- |
| Net Income Range | Income Tax Rates | Tax | |
| Upto Rs. 2,40,000 | Nil | Nil | |
| Rs. 2,40,000 - Rs. 3,00,000 | 10% | 10% of total income minus Rs. 2,40,000 | See Notes |
| Rs. 3,00,000 - Rs. 5,00,000 | 20% | Rs. 6,000 + 20% of total income minus Rs. 3,00,000 | --do-- |
| Above 5,00,000 | 30% | Rs. 46,000 + 30% of total income minus Rs. 5,00,000 | --do-- |
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 2: - Add Secondary and Higher Education Cess - SHE. Cess is 1% of Income Tax (rebate u/s 88E is not deductible )
Income Tax Rates for Firms
Rates for the Assessment Year 2011-2012
Rate of Tax is 30% for the Assessment Year 2010-2011Notes for the Assessment Year 2011-2012.
Note 1: - Add Surcharge - Nil
Note 2: - Add Education Cess - E. Cess is 2% of Income Tax
Note 3: - Add Secondary and Higher Education Cess - SHE. Cess is 1% of Income Tax
Rates for the Assessment Year 2010-2011
Rate of Tax is 30% for the Assessment Year 2009-2010Notes 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 available w.e.f. AY 2009-2010)
Note 3: - Add Secondary and Higher Education Cess - SHE. Cess is 1% of Income Tax (Rebate u/s 88E is not available w.e.f. AY 2009-2010)
Income Tax Rates for Companies
Rates For the Assessment Year 2011-2012
| Company | Rate of Income Tax | |
| In case of domestic company | 30% | |
| In case of 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, but before April 1, 1976, or fees for rendering technical services in pursuance of an agreement made by it after February 29, 1964 but before April 1, 1976 and where such agreement has, in either case, been approved by central Government | 50% |
| - | Other Income | 40% |
Note 1: - Add Surcharge - Surcharge is 7.5% of income-tax and in case of domestic companies and 2.5% in case of foreign companies if net income exceeds Rs.1crore in either case.
Surcharge is subject to marginal Relief.
Note 2: - Add Education Cess - E. Cess is 2% of Income Tax plus surcharge
Note 2: - Add Secondary and Higher Education Cess - SHE. Cess is 1% of Income Tax plus surcharge
Minimum Alternate Tax for the Assessment Year 2011-2012
| Company | Rate of Minimum Alternate Tax |
| In case of domestic company | 18% of book profit |
| In case of foreign Company | 18% of book profit |
Note 1: - Add Surcharge - Surcharge is 7.5% of income-tax and in case of domestic companies and 2.5% in case of foreign companies if net income exceeds Rs.1crore in either case.
Surcharge is subject to marginal Relief.
Note 2: - Add Education Cess - E. Cess is 2% of Income Tax plus surcharge
Note 2: - Add Secondary and Higher Education Cess - SHE. Cess is 1% of Income Tax plus surcharge
Rates For the Assessment Year 2010-2011
| Company | Rate of Income Tax | |
| In case of domestic company | 30% | |
| In case of 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, but before April 1, 1976, or fees for rendering technical services in pursuance of an agreement made by it after February 29, 1964 but before April 1, 1976 and where such agreement has, in either case, been approved by central Government | 50% |
| - | Other Income | 40% |
Note 1: - Add Surcharge - Surcharge is 10% of income-tax (Rebate u/s 88E is not available w.e.f. AY 2009-10) and in case of domestic companies and 2.5% in case of foreign companies if net income exceeds Rs. 1 crore in either case.
Surcharge is subject to marginal Relief.
Note 2: - Add Education Cess - E. Cess is 2% of Income Tax (Rebate u/s 88E is not available w.e.f. AY 2009-10) plus surcharge
Note 2: - Add Secondary and Higher Education Cess - SHE. Cess is 1% of Income Tax (Rebate u/s 88E is not available w.e.f. AY 2009-10) plus surcharge
Minimum Alternate Tax for the Assessment Year 2010-2011
| Company | Rate of Minimum Alternate Tax |
| In case of domestic company | 15% of book profit |
| In case of foreign Company | 15% of book profit |
Note 1: - Add Surcharge - Surcharge is 10% of income-tax (Rebate u/s 88E is not available w.e.f. AY 2009-10) and in case of domestic companies and 2.5% in case of foreign companies if net income exceeds Rs. 1 crore in either case.
Surcharge is subject to marginal Relief.
Note 2: - Add Education Cess - E. Cess is 2% of Income Tax (Rebate u/s 88E is not available w.e.f. AY 2009-10) plus surcharge
Note 2: - Add Secondary and Higher Education Cess - SHE. Cess is 1% of Income Tax (Rebate u/s 88E is not available w.e.f. AY 2009-10) plus surcharge
Income Tax Rates for Co-operative Societies
Rates For the Assessment Year 2011-2012
| NetIncomeRange | Rate of Tax |
| Up to Rs. 10,000 | 10% |
| Rs. 10,000 - Rs. 20,000 | 20% |
| Rs. 20,000 and above | 30% |
Note 1: - Add Education Cess - E. Cess is 2% of Income Tax
Note 2: - Add Secondary and Higher Education Cess - SHE. Cess is 1% of Income Tax
Rates For the Assessment Year 2010-2011
| Net Income Range | Rate of Tax |
| Up to Rs. 10,000 | 10% |
| Rs. 10,000 - Rs. 20,000 | 20% |
| Rs. 20,000 and above | 30% |
Note 1: - Surcharge - Nil
Note 2: - Add Education Cess - E. Cess is 2% of Income Tax (Rebate u/s 88E is not available w.e.f. AY 2009-10)
Note 2: - Add Secondary and Higher Education Cess - SHE. Cess is 1% of Income Tax (Rebate u/s 88E is not available w.e.f. AY 2009-10)
Income Tax Rates for AOP, BOI
Sr. No. | Section | Income | Rate of Income Tax |
1 | 67B(1) | Where the individual shares of the members of an association of persons or body of individuals (other than a company or a co-operative society or a society registered under the Societies Registration Act, 1860 (21 of 1860) or under any law corresponding to that Act in force in any part of India) in the whole or any part of the income of such association or body are indeterminate or unknown | 30% (Maximum Marginal Rate) |
3 | 67B(1) | where the total income of any member of such association or body is chargeable to tax at a rate which is higher than the maximum marginal rate. | Such higher rate |
4 | 67B(2) | the total income of any member for the previous year (excluding his share from such association or body) exceeds the maximum amount which is not chargeable to tax in the case of that member under the Finance Act of the relevant year. | 30% (Maximum Marginal Rate) |
5 | 67B(2) | any member or members thereof is or are chargeable to tax at a rate or rates which is or are higher than the maximum marginal rate, tax shall be charged on that | portion or portions of the total income of the association or body which is or are relatable to the share or shares of such member or members at such higher rate or rates, as the case may be, and the balance of the total income of the association or body shall be taxed at the maximum marginal rate. |
6 | Any other Case | Normal Rate of Income Tax as applicable to Individual |
Income Tax Rates for Trusts
Generally Income of a Trust is taxed in the same manner as taxed in the hands of a resident Individual.
However, in certain specific cases, taxes are applicable at the following rates:
Sr. No. | Section | Income | Rate of Income Tax |
1 | 161(1A) | Private Trust - Income includes Profit and gains from business | 30% (Maximum Marginal Rate) |
2 | 161(1) | Private Trust - Income does not include Profit and gains from business and shares are determinate or known | Rates as applicable to each beneficiary |
3 | 164 | Private Trust - Income of Private discretionary trust where shares of beneficiaries are indeterminate | 30% (Maximum Marginal Rate) |
4 | 164A | Income of a Oral Trust | 30% (Maximum Marginal Rate) |
5 | 164(2) | Public Trust – If income is not exempted u/s 11 | Taxable as AOP |
6 | 164(2) | Public Trust – If exemption is forfeited due to contravention u/s 13 | 30% (Maximum Marginal Rate) |
Income Tax Rates for Some Specific Cases
For the Assessment Year 2011-2012
| Sr. No. | Section | Income | Rate of Income Tax |
| 1 | 111A | Short Term Capital Gain from an asset being an equity share in a company or a unit of an equity oriented fund subject to STT | 10% |
| 2 | 112 | Long Term Capital Gain [Other than an asset being an equity share in a company or a unit of an equity oriented fund subject to STT - Sec. 10(38)] | 20% |
| 3 | 115B | Profits and Gains of Life Insurance Business | 12.5% |
| 4 | 115BB | Winning from lotteries, crossword puzzles, or race including horse race (not being income from activity of owning and maintaining race hose) or card game and other game of any sort or from gambling or betting of any form or nature | 30% |
| 5 | 115BBC | Anonymous Donation received in excess of the higher of the following, namely:— (A) five per cent of the total donations received by the assessee, or (B) one lakh rupees; | 30% |
Rate of Surcharge is Nil in the following cases:
a. If the taxpayer is an Individual / HUF/ BOI/ AOP
b. If the taxpayer is firm
c. If the taxpayer is company (domestic or non-domestic company) and net income does not exceed Rs. 1 crore.
d. If the taxpayer is a co-operative or local authority.
Rate of Surcharge will be 7.5% in the following cases:
a. If the taxpayer is a domestic company and net income exceeds Rs.1crore.
b. In case of section 115JB - MAT - if book profit exceeds Rs.1crore.
c. In the cases attracting sections 161(1A), 164, 164A and 167B - surcharge is applicable irrespective of income.
Rate of Surcharge will be 2.5% in the following cases:
a. If the taxpayer is non-domestic company and net income exceeds Rs.1crore.
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
For the Assessment Year 2010-2011
| Sr. No. | Section | Income | Rate of Income Tax |
| 1 | 111A | Short Term Capital Gain from an asset being an equity share in a company or a unit of an equity oriented fund subject to STT | 10% |
| 2 | 112 | Long Term Capital Gain [Other than an asset being an equity share in a company or a unit of an equity oriented fund subject to STT - Sec. 10(38)] | 20% |
| 3 | 115B | Profits and Gains of Life Insurance Business | 12.5% |
| 4 | 115BB | Winning from lotteries, crossword puzzles, or race including horse race (not being income from activity of owning and maintaining race hose) or card game and other game of any sort or from gambling or betting of any form or nature | 30% |
| 5 | 115BBC | Anonymous Donation received in excess of the higher of the following, namely:— (A) five per cent of the total donations received by the assessee, or (B) one lakh rupees; | 30% |
Rate of Surcharge is Nil in the following cases:
a. If the taxpayer is an Individual / HUF/ BOI/ AOP
b. If the taxpayer is firm
c. If the taxpayer is company (domestic or non-domestic company) and net income does not exceed Rs. 1 crore.
d. If the taxpayer is a co-operative or local authority.
Rate of Surcharge will be 10% in the following cases:
a. If the taxpayer is a domestic company and net income exceeds Rs. 1 crore.
b. In case of section 115JB - MAT - if book profit exceeds Rs. 1 crore.
c. In the cases attracting sections 161(1A), 164, 164A and 167B - surcharge is applicable irrespective of income.
Rate of Surcharge will be 2.5% in the following cases:
a. If the taxpayer is non-domestic company and net income exceeds Rs. 1 crore.
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
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