Page 15 - Union Budget_2019

Union Budget 2019

RATES OF INCOME TAX

1.1 Rates of Income Tax, Surcharge, Rebate and Education Cess for F Y 19-20

TAX RATES ASSESSEE/INCOME SLAB
Resident Senior Resident Super Any other AOP & BOI Artificial
Citizen aged Senior Individual, Juridical
between 60 to Citizen - 80 years HUF Person
79 years or more
Upto 2.5
Nil Upto 3 lakhs Upto 5 lakhs Upto 2.5 lakhs Upto 2.5 lakhs
lakhs
2.5 to 5 2.5 to 5
5% 3 to 5 lakhs Nil 2.5 to 5 lakhs
lakhs lakhs
5 to 10 5 to 10
20% 5 to 10 lakhs 5 to 10 lakhs 5 to 10 lakhs
lakhs lakhs
Above 10 Above 10
30% Above 10 lakhs Above 10 lakhs Above 10 lakhs
lakhs lakhs
Income upto Rs. 10,000 Tax @ 10%
Co-operative Society Income from Rs. 10,001 to Rs. 20,000 Tax @ 20%
Income above Rs. 20,000 Tax @ 30%
Particulars Firms Foreign Companies Local Authority
Tax Rate 30% 40% 30%
Total turnover upto Rs. 400 crores in F Y 2017-18 Tax @ 25%
Domestic Company Other cases Tax @ 30%

Type of assessee Total Income Rate

Exceeding Rs. 50 lakhs 10%
but not Rs. 1 crore

Exceeding Rs. 1 crore
Resident and Non-Resident but not exceeding Rs. 2
Individual/HUF/AOP/BOI/
crores 15%
Artificial Juridical Person
Exceeding Rs. 2 crores
but not exceeding Rs. 5
crores 25%
Exceeding Rs. 5 crores 37%
Resident and Non-Resident Exceeding Rs. 1 crore 12%
Surcharge Co-operative Society
Resident and Non-Resident Exceeding Rs. 1 crore

Firm 12%
Resident Local Authority Exceeding Rs. 1 crore 12%
Foreign Company Exceeding Rs. 1 crore
but not Rs.10 crore 2%
Exceeding Rs. 10
crores 5%
Domestic Company Exceeding Rs. 1 crore
but not Rs. 10 crores 7%
Exceeding Rs. 10
crores 12%
Distribution tax u/s 115O, -
12%
115QA, 115R and 115TA
Health and Education Cess 4% on the (tax amount + surcharge if applicable)

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