|
SI.No.
|
Particulars
|
Tax(%)
|
Surcharge
(%) |
E. Cess
(%) |
S Et HE.Cess (%)
|
Effective Tax
(%) |
|
1
|
Domestic companies
(with total income less than 1 Cr.)
|
18.5
|
–
|
2
|
1
|
19.055
|
|
2
|
Domestic companies
(with total income more than 1 cr. but less than 10 Cr.)
|
18.5
|
7*
|
2
|
1
|
20.389
|
|
3
|
Other domestic
companies
|
18.5
|
12#
|
2
|
1
|
21.342
|
|
4
|
Foreign companies
(with total income less than 1 Cr.)
|
18.5
|
–
|
2
|
1
|
19.06
|
|
5
|
Foreign companies
(with total income more than 1 cr. but less than 10 Cr.)
|
18.5
|
2
|
2
|
1
|
19.436
|
|
6
|
Other foreign
companies
|
18.5
|
5
|
2
|
1
|
20.008
|
* Surcharge has been
increased from 5% to 7%.
# Surcharge has been
increased from 10% to 12%.
Alternate Minimum Tax
(AMT)
It is applicable on
all persons other than companies. In case of Individual, Hindu Undivided
Family, Association of Persons and Body of Individuals, it applies only if
Adjusted Total Income exceeds Rs. 20,00,000. Adjusted Total Income is computed
by increasing Total Income by any Deduction claimed under chapter VIA [Sec.
80-IA to Sec. 8ORRB (Except Sec. 80P)] and Sec. 10AA.
AMT would be computed
at the rate of 18.5% on adjusted total income. Surcharge has been increased
from 10% to 12% where the adjusted total income exceeds Rs. 1,00,00,000.
Education Cess is applicable at the rate of 2%. Secondary and Higher Education
Cess is applicable ® 1% on income tax.
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