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  • Assessment year : 2019 - 20
    Previous year : 2018 - 19
    1. For resident Senior Citizens. (Age above 60 Years)
    Up to Rs 3,00,000 Nil
    Rs. 3,00,001 to Rs. 5,00,000  5%
    Rs. 5,00,001 to Rs. 10,00,000 20%
    Above Rs. 10,00,000 30%
    2. For resident Super Senior Citizens. (Age above 80 Years)
    Up to Rs 5,00,000 Nil
    Rs. 5,00,001 to Rs. 10,00,000 20%
    Above Rs. 10,00,000 30%
    3. Individuals, [other than those mentioned above, HUF, AOP/BOI (other than co-operative societies).
    Upto Rs. 2,50,000 Nil
    Rs. 2,50,001 to Rs. 5,00,000  5%
    Rs. 5,00,001 to Rs 10,00,000 20%
    Above Rs. 10,00,000 30%
    Note: Rebate u/s 87A is added from Finance Act 2017, in which resident individuals are allowed rebate (if their taxable income does not exceed Rs. 3.5 lakh) equal to 100% of income tax or Rs. 2,500 whichever less.

    Surcharge :
    10% for Individual having taxable Income exceeding  50 Lacs upto 1 Crore
    15% for Individual having taxable Income exceeding 1 Crore

    Education Cess : 2% on income-tax plus surcharge.

    Secondary and Higher Education cess : 1% on income-tax plus surcharge

    Long-Term Capital Gains: 20% on income-tax plus surcharge.

    Short-Term Capital Gains u/s 111A:15% on income-tax plus surcharge.

    Firms

    Income tax : 30%.

    Surcharge : 12% of the Income Tax, where total taxable income is more than Rs. 1 crore.

    Companies

    (A) Domestic Companies

    Income tax : 30% (25% if turnover or gross receipt does not exceed Rs.250 Crore in the Financial Year 2016-17))

    Surcharge: 7% if the taxable income exceeds Rs. 1 crore & 12% if the taxable income exceeds 10 crores

    Health and Education Cess: 4% on the amount of Tax plus surcharge

    (B) Foreign Companies
    Income tax : 40% (in general )
    Surcharge : 2% if the taxable income exceeds Rs. 1 crore & 5% if the taxable income exceeds 10 crores
    Education Cess : 4% on the amount of Tax plus surcharge
    Cooperative Societies
    Upto Rs. 10,000 10%
    Rs. 10,001 to Rs. 20,000 20%
    Rs. 20,001 to Above 30%

    Surcharge : 12% of the Income Tax, where total taxable income is more than Rs. 1 crore.

    Health and Education Cess : 4% on the amount of Tax .

    Local Authorities

    Income tax : 30%.

    Surcharge : 12% of the Income Tax, where total taxable income is more than Rs. 1 crore

    Health and Education Cess : 4% on the amount of Tax.

    Assessment year : 2018 - 19
    Previous year : 2017 - 18
    1. For resident Senior Citizens. (Age above 60 Years)
    Up to Rs 3,00,000 Nil
    Rs. 3,00,001 to Rs. 5,00,000  5%
    Rs. 5,00,001 to Rs. 10,00,000 20%
    Above Rs. 10,00,000 30%
    2. For resident Super Senior Citizens. (Age above 80 Years)
    Up to Rs 5,00,000 Nil
    Rs. 5,00,001 to Rs. 10,00,000 20%
    Above Rs. 10,00,000 30%
    3. Individuals, [other than those mentioned above, HUF, AOP/BOI (other than co-operative societies).
    Upto Rs. 2,50,000 Nil
    Rs. 2,50,001 to Rs. 5,00,000  5%
    Rs. 5,00,001 to Rs 10,00,000 20%
    Above Rs. 10,00,000 30%
    Note: Rebate u/s 87A is added from Finance Act 2013, in which resident individuals are allowed rebate (if their taxable income does not exceed Rs. 3.5 lakh) equal to 100% of income tax or Rs. 2,500 whichever less.

    Surcharge :
    10% for Individual having taxable Income exceeding  50 Lacs upto 1 Crore
    15% for Individual having taxable Income exceeding 1 Crore

    Education Cess : 2% on income-tax plus surcharge.

    Secondary and Higher Education cess : 1% on income-tax plus surcharge

    Long-Term Capital Gains: 20% on income-tax plus surcharge.

    Short-Term Capital Gains u/s 111A:15% on income-tax plus surcharge.

    Firms

    Income tax : 30%.

    Surcharge : 12% of the Income Tax, where total taxable income is more than Rs. 1 crore.

    Education Cess : 2% on income-tax plus surcharge

    Secondary and Higher Education cess : 1% on income-tax plus surcharge

    Companies

    (A) Domestic Companies

    Income tax : 30% (25% if turnover or gross receipt does not exceed Rs.50 Crore)

    Surcharge: 7% if the taxable income exceeds Rs. 1 crore & 12% if the taxable income exceeds 10 crores

    Education Cess: 2% on income-tax plus surcharge.

    Secondary and Higher Education cess : 1% on income-tax plus surcharge

    (B) Foreign Companies
    Income tax : 40% (in general )
    Surcharge : 2% if the taxable income exceeds Rs. 1 crore & 5% if the taxable income exceeds 10 crores
    Education Cess : 2% on income-tax plus surcharge
    Secondary and Higher Education cess : 1% on income-tax plus surcharge
    Cooperative Societies
    Upto Rs. 10,000 10%
    Rs. 10,001 to Rs. 20,000 20%
    Rs. 20,001 to Above 30%

    Surcharge : 12% of the Income Tax, where total taxable income is more than Rs. 1 crore.

    Education Cess : 2% on income-tax.

    Secondary And Higher EducationCess : 1% on income tax plus surcharge

    Local Authorities

    Income tax : 30%.

    Surcharge : 12% of the Income Tax, where total taxable income is more than Rs. 1 crore

    Education Cess : 2% on income-tax plus surcharge.

    Secondary and Higher Education cess : 1% on income-tax plus surcharge