Professional Documents
Culture Documents
Y: 2015-16/ 2016-17
INDIVIDUALS
HUF
CO-OPERATIVE SOCIETIES
DOMESTIC COMPANIES
FOREIGN COMPANIES
FIRMS
LLP
LOCAL AUTHORITY
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Individuals (10%/20%/30%)
H.U.F
(10%/20%/30%)
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GENERAL/NRI
UP TO INR.250,000
INR.250,000 TO
INR.500,000 #
INR.500,000 TO
INR.10,00,000
ABOVE INR.10,00,000
(RESIDENT INDIVIDUAL
OF 60 YEARS TILL 79
YEARS)
UP TO INR.300,000
INR.300,000 TO
INR.500,000 #
INR.500,000 TO
INR.10,00,000
ABOVE INR.10,00,000
(RESIDENT INDIVIDUAL OF 80
RATE *
UP TO INR.500,000
NIL
10%
INR.500,000 TO
INR.10,00,000
ABOVE INR.10,00,000
20%
30%
2. EXCLUSIVE OF SURCHARGE @ 10% FOR A.Y. 2015-16 AND @ 12% FOR A.Y. 2016-17 WHOSE TOTAL INCOME EXCEEDS RS. 1
CRORE.
# Tax Credit as per Sec. 87 A will be provided to First Bracket Resident Individual i.e. Net Income upto INR.
5,00,000. Credit will be equal to the Actual Tax Payable or INR. 2,000 whichever less.
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Co-Operative Societies
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Amount
Up to INR. 10,000
From INR.10,001 to INR. 20,000
More than INR.20,000
Rate of Tax *
10%
20%
30%
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Other Assesses
Domestic Companies
Foreign Companies
Firms/ LLP/ Local Autho.
Income
Tax Rate
MAT Rate
30%
40%
30%
18.50%
18.50%
Note-1
Dividend
Distribution Tax
Rate *
20.358%
-
Notes:
Alternate Minimum Tax (AMT) is applicable to all persons (other than companies) claiming profit
linked deductions under chapter VI-A (80-H to 80RRB excluding 80P) and Section 10AA, provided
the adjusted income exceeds INR. 20 lacs.
Marginal Relief is available in case income exceeds INR.1 Crore or INR.10 Crore, as the case
may be, to the extent marginal tax exceeds marginal income.
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Surcharge
A.Y.
A.Y.
2015-16 2016-17
Applicable to Companies
Total
Income
Education Cess
< INR. 1 cr
All
INR.1 cr to INR.10 Domestic
cr
Foreign
Domestic
> INR. 10 cr
Foreign
NIL
5%
2%
10%
5%
3%
NIL
7%
2%
12%
5%
3%
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Shares of Members are Determinate
Member is an
Individual /
HUF
Member is a Company
Member is a
Company
Tax will be
charged on the
Total income of
AOP/BOI at
MMR of
34.61%*
Where income
of AOP/BOI is
taxable at rate
higher than the
MMR then, the
Total Income of
AOP/BOI will
be taxed at
such higher
rate. (i.e. in
case of Foreign
Companies)