Income Tax

Individual

Assessment Year Rate Resident Women Resident Sr. Citizen (60 years or more) General/ Others
2012-13 Nil Upto 190000 Upto 250000 Upto 180000
10% 190000-500000 250000-500000 180000-500000
20% 500000-800000 500000-800000 500000-800000
30% Above 800000
2011-12 Nil Upto 190000 Upto 240000 Upto 160000
10% 190000-500000 240000-500000 160000-500000
20% 500000-800000 500000-800000 500000-800000
30% Above 800000
2010-11 Nil Upto 190000 Upto 240000 Upto 160000
10% 190000-300000 240000-300000 160000-300000
20% 300000-500000 300000-500000 300000-500000
30% Above 500000
2009-10 Nil Up to 180000 Up to 225000 Up to 150000
10% 180000-300000 225000-300000 150000-300000
20% 300000-500000 300000-500000 300000-500000
30% Above 500000
2008-09 Nil Up to 145000 Up to 195000 Up to 110000
10% 145000-300000 195000-300000 110000-300000
20% 300000-500000 300000-500000 300000-500000
30% Above 500000

Surcharge: 10 % on Income Tax if income Exceeds Rs 10,00,000
Cess: 3% on Income Tax & surcharge (2 % education cess, 1% Higher secondary cess)

 

Partnership Firm

Firm AY-2009-10 AY- 2010-11 AY- 2011-12 AY- 2012-13
Tax Rate 30% 30% 30% 30%
Surcharge (if net income exceeds 1 Crore) 10% - - -
Edu. Cess & SHE Cess 3% 3% 3% 3%

 

LLP (Concept introduced from AY 2010-11) AY-2009-10 AY- 2010-11 AY- 2011-12 AY- 2012-13
Tax Rate - 30% 30% 30%
Surcharge (if net income exceeds 1 Crore) - - - -
Alternate Min. Tax (AMT) (% of adjusted total income) (115JC to 115 JF ) - - - 18.5%
Edu. Cess & SHE Cess - 3% 3% 3%

 

Company

DOMESTIC COMPANY 2009-10 2010-11 2011-12 2012-13
Tax Rate 30% 30% 30% 30%
Surcharge (if net income exceeds 1 Crore) 10% 10% 7.5% 5%
Min. Alt. Tax (MAT) (% of Book Profit)(115JB) 10% 15% 18% 18.5%
C/F of MAT Credit 10 yrs 10 yrs 10 yrs 10 yrs
Dividend Tax U/s 115-O 15% 15% 15% 15%
Surcharge 10% 10% 7.5% 5%
Edu. Cess & SHE Cess - 3% 3% 3%