Rates of Income Tax

Rates of Income Tax
Assessment year :2011-12 Previous year : 2010-11	Assessment year :2010-11 Previous year : 2009-10
1. For resident women below the age of 65 years.	1. For resident women below the age of 65 years.

Upto Rs. 1,90,000	Nil
Rs. 1,90,001 to Rs. 5,00,000	10%
Rs. 5,00,001 to Rs. 8,00,000	20%
Above Rs. 8,00,000	30%

Upto Rs. 1,90,000	Nil
Rs. 1,90,001 to Rs. 3,00,000	10%
Rs. 3,00,001 to Rs. 5,00,000	20%
Above Rs. 5,00,000	30%

2. For resident Senior Citizens.

2. For resident Senior Citizens.

Upto Rs 2,40,000	Nil
Rs. 2,40,001 to Rs. 5,00,000	10%
Rs. 5,00,001 to Rs. 8,00,000	20%
Above Rs. 8,00,000	30%

Upto Rs 2,40,000	Nil
Rs. 2,40,001 to Rs. 3,00,000	10%
Rs. 3,00,001 to Rs. 5,00,000	20%
Above Rs. 5,00,000	30%

3. Individuals, [other than those mentioned above, HUF, AOP/BOI (other than co-operative societies).

3. Individuals, [other than those mentioned above, HUF, AOP/BOI (other than co-operative societies).

Upto Rs. 1,60,000	Nil
Rs. 1,60,001 to Rs. 5,00,000	10%
Rs. 5,00,001 to Rs 8,00,000	20%
Above Rs. 8,00,000	30%

Upto Rs. 1,60,000	Nil
Rs. 1,60,001 to Rs. 3,00,000	10%
Rs. 3,00,001 to Rs 5,00,000	20%
Above Rs. 5,00,000	30%

Surcharge : NIL 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.	Surcharge : NIL 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*	*Firms*
Income tax : 30%. Surcharge : NIL Education Cess : 2% on income-tax plus surcharge Secondary and Higher Education cess : 1% on income-tax plus surcharge	Income tax : 30%. Surcharge : 10% if the taxable income exceeds Rs. 100,00,000 Education Cess : 2% on income-tax plus surcharge Secondary and Higher Education cess : 1% on income-tax plus surcharge
*Companies*	*Companies*
Domestic Companies Income tax @ 30% Surcharge: 7.5% if the taxable income exceeds Rs. 100,00,000. Education Cess : 2% on income-tax plus surcharge. Secondary and Higher Education cess : 1% on income-tax plus surcharge	Domestic Companies Income tax @ 30% Surcharge: 10% if the taxable income exceeds Rs. 100,00,000. Education Cess : 2% on income-tax plus surcharge. Secondary and Higher Education cess : 1% on income-tax plus surcharge
Foreign Companies Income tax @50% on royalty or fee for technical services in pursuance of agreement between 1.04.1961 to 31.03.1976. Income tax @ 40% in other cases Surcharge: 2.5% if the taxable income exceeds Rs. 100,00,000. Education Cess: 2% on income-tax plus surcharge. Secondary and Higher Education cess : 1% on income-tax plus surcharge	Foreign Companies Income tax @50% on royalty or fee for technical services in pursuance of agreement between 1.04.1961 to 31.03.1976. Income tax @ 40% in other cases Surcharge: 2.5% if the taxable income exceeds Rs. 100,00,000. Education Cess: 2% on income-tax plus surcharge. Secondary and Higher Education cess : 1% on income-tax plus surcharge
*Cooperative*	*Cooperative*

Upto Rs. 10,000	10%
Rs. 10,001 to Rs. 20,000	20%
Rs. 20,001 to Above	30%

Upto Rs. 10,000	10%
Rs. 10,001 to Rs. 20,000	20%
Rs. 20,001 to Above	30%

Surcharge : Surcharge Is Not Applicable Education Cess : 2% on income-tax. Secondary And Higher EducationCess:- .1% on income tax plus surcharge	Surcharge : Surcharge Is Not Applicable. Education Cess : 2% on income-tax. Secondary And Higher EducationCess:- .1% on income tax plus surcharge
*Local Authorities*	*Local Authorities*
Income tax: 30%. Surcharge : NIL Education Cess: 2% on income-tax plus surcharge. Secondary and Higher Education cess : 1% on income-tax plus surcharge	Income tax: 30%. Surcharge : NIL Education Cess: 2% on income-tax plus surcharge. Secondary and Higher Education cess : 1% on income-tax plus surcharge