Income Tax Rates for Financial Year 2017-18
Plus: Surcharge: @ 10% of the Income Tax if taxable income exceeds ` 50 lacs or @ 15% of the Income Tax if taxable income exceeds ` 1 crore. Education Cess: 3% of the total of Income Tax and Surcharge.
Plus: Surcharge: @ 10% of the Income Tax if taxable income exceeds ` 50 lacs or @ 15% of the Income Tax if taxable income exceeds ` 1 crore. Education Cess: 3% of the total of Income Tax and Surcharge.
Firm/Local Authority
Taxable @ 30% plus surcharge: 12% of the
Income Tax if taxable income exceeds ` 1 crore. Education Cess: 3% of the total
of Income Tax and Surcharge
Domestic Company
Tax rate: 30% (Tax Rate is 25% if turnover or gross receipt of the company
in the previous year 2015-16 doesn’t exceed 50 crore)
Plus: Surcharge: 7% of the Income-tax if taxable income
exceeds 1 crore or 12% of the income-tax if taxable income exceeds 10 crores. Education Cess: 3% of the total of Income Tax and Surcharge
Foreign Company
Tax rate: 40%
Plus:
Surcharge: 2% of the Income-tax if taxable income exceeds 1 crore or 5% of the
income-tax if taxable income exceeds 10 crores. Education Cess: 3% of the total
of Income Tax and Surcharge
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