MINIMUM ALTERNATE TAX (MAT) RATES FOR FINANCIAL YEAR 2015-16
|
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.
Securities Transaction
Tax (STT) Rates for Financial Year 2015-16
STT is levied on the
value of taxable securities transaction as under:
|
Sl.No.
|
Transactions
|
Rate
|
Payable by
|
|
1
|
Purchase/Sale of
equity shares (delivery based)
|
0.1%
|
Purchaser/ Seller
|
|
2
|
Purchase of units of
equity-oriented mutual fund (delivery based)
|
Nil
|
Purchaser
|
|
3
|
Sale of units of
equity-oriented mutual fund (delivery based)
|
0.001%
|
Seller
|
|
4
|
Sale of equity
shares, units of equity-oriented mutual fund (non-delivery based)
|
0.025%
|
Seller
|
|
5
|
Sale of an option in
securities
|
0.017%
|
Seller
|
|
6
|
Sale of an option in
securities, where option is exercised
|
0.125%
|
Purchaser
|
|
7
|
Sale of a futures in
securities
|
0.01%
|
Seller
|
|
8
|
Sale of unit of
equity oriented fund to the Mutual Fund
|
0.001%
|
Seller
|
Commodities
Transaction Tax (CTT)
CTT is levied on the
value of taxable commodities transaction:
|
Transactions
|
Rate
|
Payable by
|
|
Sale of commodity
derivative (other than agricultural commodities) entered in a recognised
association
|
0.1%
|
Seller
|
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