23Feb
TAX RATES FOR THE LAST TEN ASSESSMENT YEARS
INCOME-TAX RATES* FOR INDIVIDUALS, HUFs, ASSOCIATIONS OF PERSONS AND BODY OF INDIVIDUALS
(in percentage)
| Assessment year 2008-09 | ||||||||||||||||
| Resident woman | Resident senior citizen | Any other | ||||||||||||||
| First Rs. 1,10,000 | Nil | Nil | Nil | |||||||||||||
| Next Rs. 35,000 | Nil | Nil | 10% | |||||||||||||
| Next Rs. 5,000 | 10% | Nil | 10% | |||||||||||||
| Next Rs. 45,000 | 20% | Nil | 20% | |||||||||||||
| Next Rs. 55,000 | 20% | 20% | 20% | |||||||||||||
| Above Rs. 2,50,000 | 30% | 30% | 30% | |||||||||||||
| Assessment year 2009-10 | ||||||||||||||||
| Resident woman | Resident senior citizen** | Any other | ||||||||||||||
| First Rs. 1,50,000 | Nil | Nil | Nil | |||||||||||||
| Next Rs. 30,000 | Nil | Nil | 10% | |||||||||||||
| Next Rs. 45,000 | 10% | Nil | 10% | |||||||||||||
| Next Rs. 75,000 | 10% | 10% | 10% | |||||||||||||
| Next Rs. 2,00,000 | 20% | 20% | 20% | |||||||||||||
| Above Rs. 5,00,000 | 30% | 30% | 30% | |||||||||||||
| Assessment year 2010-11 | ||||||||||||||||
| Resident woman | Resident senior citizen** | Any other | ||||||||||||||
| First Rs. 1,60,000 | Nil | Nil | Nil | |||||||||||||
| Next Rs. 30,000 | Nil | Nil | 10% | |||||||||||||
| Next Rs. 50,000 | 10% | Nil | 10% | |||||||||||||
| Next Rs. 60,000 | 10% | 10% | 10% | |||||||||||||
| Next Rs. 2,00,000 | 20% | 20% | 20% | |||||||||||||
| Above Rs. 5,00,000 | 30% | 30% | 30% | |||||||||||||
| Assessment year 2011-12 | ||||||||||||||||
| Resident woman | Resident senior citizen** | Any other | ||||||||||||||
| First Rs. 1,60,000 | Nil | Nil | Nil | |||||||||||||
| Next Rs. 30,000 | Nil | Nil | 10% | |||||||||||||
| Next Rs. 50,000 | 10% | Nil | 10% | |||||||||||||
| Next Rs. 2,60,000 | 10% | 10% | 10% | |||||||||||||
| Next Rs. 3,00,000 | 20% | 20% | 20% | |||||||||||||
| Above Rs. 8,00,000 | 30% | 30% | 30% | |||||||||||||
| Assessment year 2012-13 | ||||||||||||||||
| Resident woman | Resident senior citizen*** | Resident super senior citizen**** | Any other | |||||||||||||
| First Rs. 1,80,000 | Nil | Nil | Nil | Nil | ||||||||||||
| Next Rs. 10,000 | Nil | Nil | Nil | 10% | ||||||||||||
| Next Rs. 60,000 | 10% | Nil | Nil | 10% | ||||||||||||
| Next Rs. 2,50,000 | 10% | 10% | Nil | 10% | ||||||||||||
| Next Rs. 3,00,000 | 20% | 20% | 20% | 20% | ||||||||||||
| Above Rs. 8,00,000 | 30% | 30% | 30% | 30% | ||||||||||||
| Assessment years 2013-14 and 2014-15 | ||||||||||||||||
| Resident senior citizen*** | Resident super senior citizen**** | Any other | ||||||||||||||
| First Rs. 2,00,000 | Nil | Nil | Nil | |||||||||||||
| Next Rs. 50,000 | Nil | Nil | 10% | |||||||||||||
| Next Rs. 2,50,000 | 10% | Nil | 10% | |||||||||||||
| Next Rs. 5,00,000 | 20% | 20% | 20% | |||||||||||||
| Above Rs. 10,00,000 | 30% | 30% | 30% | |||||||||||||
| Assessment years 2015-16 to 2017-18 | ||||||||||||||||
| Resident senior citizen*** | Resident super senior citizen**** | Any other | ||||||||||||||
| First Rs. 2,50,000 | Nil | Nil | Nil | |||||||||||||
| Next Rs. 50,000 | Nil | Nil | 10% | |||||||||||||
| Next Rs. 2,00,000 | 10% | Nil | 10% | |||||||||||||
| Next Rs. 5,00,000 | 20% | 20% | 20% | |||||||||||||
| Above Rs. 10,00,000 | 30% | 30% | 30% | |||||||||||||
*Certain incomes of non-resident Indians are taxable at the flat rate of 20 per cent.
**65 years or more at any time during the previous year.
***60 years or more at any time during the previous year but less than 80 years on the last day of the previous year.
****80 years or more at any time during the previous year.
Union surcharge on income-tax
| a. | For the assessment years 2008-09 and 2009-10 : 10% of income-tax if taxable income exceeds Rs. 10,00,000 (surcharge is payable whether the taxpayer is resident or non-resident). | |
| b. | For the assessment years 2010-11 to 2013-14 : Nil. | |
| c. | For the assessment years 2014-15 and 2015-16, 10 per cent of income-tax if taxable income exceeds Rs. 1 crore (surcharge is payable whether taxpayer is resident or non-resident). | |
| d. | For the assessment year 2016-17, 12 per cent of income-tax if taxable income exceeds Rs. 1 crore (surcharge is payable whether taxpayer is resident or non-resident). | |
| e. | For the assessment year 2017-18, 15 per cent of income-tax if taxable income exceeds Rs. 1 crore (surcharge is payable whether taxpayer is resident or non-resident). |
Education cess : 2% of income-tax and surcharge for the assessment years 2008-09 to 2017-18.
Secondary and higher education cess: 1% of income-tax and surcharge for the assessment years 2008-09 to 2017-18.
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