- @ 50% of on so much of the total income as consist of (a) royalties received from Government or an Indian concern in pursuance of an agreement made by it with the Government or the Indian concern after the 31st day of March, 1961 but before the 1st day of April, 1976; or (b) fees for rendering technical services received from Government or an Indian concern in pursuance of an agreement made by it with the Government or the Indian concern after the 29th day of February, 1964 but before the 1st day of April, 1976, and where such agreement has, in either case, been approved by the Central Government.
- @ 40% of the balance
UNION BUDGET, 2011
A. Tax Slabs for Individuals, HUF, AOPs/BOIs and Others:
(1) Income Tax Slabs/Rates for Male Individuals, HUFs, AOPs/BOI, AJPs and others:
| Upto Rs 1,80,000 | Nil | |
| 1,80,001 to 5,00,000 | 10% of the amount by which the total income exceeds Rs. 1,80,000 | |
| 5,00,001 to 8,00,000 |
| |
| Above 8,00,000 | Rs. 92,000 + 30 per cent of the amount by Rs. 8,00,000 |
Surcharge: Nil
Education Cess: 3% of the Income-tax.
(2) Income Tax Slabs/Rates for Resident Women:
| Upto Rs 1,90,000 | Nil |
| 1,90,001 to 5,00,000 | 10% of the amount by which the total income exceeds Rs. 1,90,000 |
| 5,00,001 to 8,00,000 | Rs. 31,000 + 20% of the amount by which the total income exceeds Rs. 5,00,000 |
| Above 8,00,000 | Rs. 91,000 + 30 per cent of the amount by Rs. 8,00,000 |
Surcharge: Nil
Education Cess: 3% of the Income-tax.
(3) Income Tax Slabs/Rates for Resident Senior Citizens (65 years and below 80 years of age):
| Upto Rs 2,50,000 | Nil |
| 2,50,001 to 5,00,000 | 10% of the amount by which the total income exceeds Rs. 2,50,000 |
| 5,00,001 to 8,00,000 | Rs. 25,000 + 20% of the amount by which the total income exceeds Rs. 5,00,000 |
| Above 8,00,000 | Rs. 85,000 + 30 per cent of the amount by Rs. 8,00,000 |
Surcharge: Nil
Education Cess: 3% of the Income-tax.
(4) Income Tax Slabs/Rates for Resident Senior Citizens ( 80 years of age and above):
| Upto 5,00,000 | Nil |
| 5,00,001 to 8,00,000 | 20% of the amount by which the total income exceeds Rs. 5,00,000 |
| Above 8,00,000 | Rs 60,000 + 30% of the amount by which the total income exceeds Rs. 8,00,000 |
Surcharge: Nil
Education Cess: 3% of the Income-tax.
B. Tax Slabs for Co-Operative Societies:
| Upto Rs 10,000 | 10% of the total income | |
| 10,001 to 20,000 |
| |
| Above 20,000 |
|
Surcharge: Nil
Education Cess: 3% of the Income-tax.
Tax Rates for Other Categories are:
C. Firm
i. Income-tax: 30% of total income.
ii. Surcharge: Nil
iii. Education Cess: 3% of the total of Income-tax and Surcharge.
D. Local Authority
i. Income-tax: 30% of total income.
ii. Surcharge: Nil
iii. Education Cess: 3% of Income-tax.
E. Domestic Company
i. Income-tax: 30% of total income.
ii. Surcharge: The amount of income tax as computed in accordance with above rates, and after being reduced by the amount of tax rebate shall be increased by a surcharge at the rate of 5% of such income tax, provided that the total income exceeds Rs. 1 crore.
iii. Education Cess: 3% of the total of Income-tax and Surcharge.
G. Company other than a Domestic Company
i. Income-tax:
ii. Surcharge: The amount of income tax as computed in accordance with above rates, and after being reduced by the amount of tax rebate shall be increased by a surcharge at the rate of 2.5% of such income tax, provided that the total income exceeds Rs. 1 crore.
iii. Education Cess: 3% of the total of Income-tax and Surcharge.
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