TAX RATES FOR SALARIED INDIVIDUALS
[Division I, Part of the First Schedule]
| S.No. | Taxable Income | Rate of tax |
|---|---|---|
| 1 | Upto Rs.600,000 | 0% |
| 2 | Rs. 600,001 to Rs. 1,200,000 | 5% on amount exceeding Rs. 600,000 |
| 3 | Rs. 1,200,001 to Rs. 1,800,000 R | Rs. 30,000 plus 10 % on amount > Rs. 1.2M |
| 4 | Rs. 1,800,001 to Rs. 2,500,000 | Rs. 90,000 plus 15 % on amount > Rs. 1.8M |
| 5 | Rs. 2,500,001 to Rs.3,500,000 | Rs. 195,000 plus 17.5 % on amount > Rs. 2.5M |
| 6 | Rs. 3,500,001 to Rs.5,000,000 | Rs. 370,000 plus 20 % on amount > Rs. 3.5M |
| 7 | Rs. 5,000,001 to Rs.8,000,000 | Rs. 670,000 plus 22.5 % on amount > Rs. 5M |
| 8 | Rs. 8,000,001 to Rs.12,000,000 R | Rs. 1,345,000 plus 25 % on amount > Rs. 8M |
| 9 | Rs. 12,000,001 to Rs.30,000,000 | Rs. 2,345,000 plus 27.5 % on amount > Rs. 12M |
| 10 | Rs. 30,000,001 to Rs.50,000,000 | Rs. 7,295,000 plus 30 % on amount > Rs. 30M |
| 11 | Rs. 50,000,001 to Rs.75,000,000 R | Rs. 13,295,000 plus 32.5 % on amount > Rs. 50M |
| 12 | Above 75,000,000 | Rs. 21,420,000 plus 35 % on amount > Rs. 75M |
TAX RATES FOR NON SALARIED & AOPs
[Division I, Part of the First Schedule]
| S.No. | Taxable Income | Rate of tax |
|---|---|---|
| 1 | Upto Rs. 400,000 | 0% |
| 2 | Rs. 400,001 to Rs. 600,000 | 5% of Amount Exceeding Rs. 400,000/- |
| 3 | Rs. 600,001 to Rs. 1,200,000 | Rs. 10,000/- plus 10% Exceeding Rs. 600,000 |
| 4 | Rs. 1,200,001 to Rs. 2,400,000 | Rs. 70,000/- plus 15% Exceeding Rs. 1.2M |
| 5 | Rs. 2,400,001 to Rs.3,000,000 | Rs. 250,000/- plus 20% Exceeding Rs. 2.4M |
| 6 | Rs. 3,000,001 to Rs. 4,000,000 R | Rs. 370,000/- plus 25% Exceeding Rs. 3M |
| 7 | Rs. 4,000,001 to Rs. 6,000,000 | Rs. 620,000/- plus 30% Exceeding Rs. 3M |
| 8 | Above Rs. 6,000,000 | Rs. 1,220,000/- plus 35% Exceeding Rs. 6M |
TAX RATES FOR NON SALARIED & AOPs
[Division I, Part of the First Schedule]
| S.No. | Type | Rate of tax |
|---|---|---|
| 1 | Banking Companies | 35% |
| 2 | Public /Private Companies | 29% |
| 3 | Small Companies | 22% |
TAX RATES FOR INCOME FROM PROPERTY
FOR INDIVIDUALS & AOPs
Sections 15 & 155
| S.No. | Gross amount of rent | Rate of tax |
|---|---|---|
| 1 | Upto Rs. 200,000 | 0% |
| 2 | Rs. 200,001 to Rs. 600,000 | 5% of Amount Exceeding Rs. 200,000/- |
| 3 | Rs. 600,001 to Rs. 1,000,000 | Rs. 20,000/- + 10% Exceeding Rs. 600,000 |
| 4 | Rs. 1,000,001 to Rs. 2,000,000 | Rs. 60,000/- + 15% Exceeding Rs. 1,000,000 |
| 5 | Rs. 2,000,001 to Rs. 4,000,000 | Rs. 210,000/- + 20% Exceeding Rs. 2,000,000 |
| 6 | Rs. 4,000,001 to Rs. 6,000,000 | Rs. 610,000/- + 25% Exceeding Rs. 4,000,000 |
| 7 | Rs. 6,000,001 to Rs. 8,000,000 | Rs. 1,110,000/- + 30% Exceeding Rs. 6,000,000 |
| 8 | Above Rs. 8,000,000 | Rs. 1,710,000/- + 35% Exceeding Rs. 8,000,000 |
| * | IND/AOP may opt for Normal Tax Regime without any rental income limit | |
| ** In case of Company, rate of tax u/s 155 shall be 15% of the gross amount of the rent | ||
CAPITAL GAIN ON DISPOSAL OF IMMOVABLE PROPERTY
Section 37(1A)
| S.No. | Amount of Gain | On ATL | Not on ATL |
|---|---|---|---|
| 1 | Where the gain does not exceed Rs. 5 M | 2.5% | 5% |
| 2 | Where the gain does not exceed Rs. 5 M but does not exceed Rs.10M | 5% | 10% |
| 3 | Where the gain does not exceed Rs. 5 M but does not exceed Rs.10M | 7.5% | 15% |
| 4 | Where the gain does not exceed Rs. 5 M but does not exceed Rs.10M | 10% | 20% |
| * If Holding Period is more than 4 years then Capital Gain is Subject to Tax @ 0%. | |||
CAPITAL GAIN ON DISPOSAL OF SECURITIES
Section 37A
| S.No. | Holding Period | On ATL | Not on ATL |
|---|---|---|---|
| Acquired before July 1, 2016: | |||
| 1 | Sold in less than 12 months | 15.00% | 30.00% |
| 2 | Sold after 12 but before 24 months | 12.50% | 25.00% |
| 3 | Sold after 24 months and acquired after 01-07-13 | 7.50% | 15% |
| 4 | Acquired before 01-07-2013 | 0.00% | 0.00% |
| Acquired after July 1, 2016: | |||
| 5 | Irrespective of holding period | 15.00% | 30.00% |
| Future commodity contractsPMEX | 5.00% | 10.00% |
MINIMUM TAX
| Nature of Payments | Section | On ATL | Not on ATL |
|---|---|---|---|
| MINIMUM TURNOVER Tax for Companies including P.E of non-resident Company(except otherwise specified) | 113 | 1.50% of Turnover | |
| MINIMUM TURNOVER Tax for Ind. & AOPs (annual turnover Rs. 10 Million or more) | 113 | 1.50% of Turnover | |
| In case of Oil Marketing Companies, Oil Refineries, SSGPL,SNGPL,PIAC, Poultry & online marketplace | 113 | 0.75% of Turnover | |
| Motorcycle dealers | 113 | 0.30% of Turnover | |
| In case of distributers, Flour Milling, Petroleum, Agents,Rice Mills & Dealers | 113 | 0.25% of Turnover | |
| Imports (For Details please refer Twelfth Schedule) | |||
| Twelfth Schedule Table I | 148 | 1.00% | 2.00% |
| Twelfth Schedule Table II | 148 | 2.00% | 4.00% |
| Twelfth Schedule Table III | 148 | 5.50% | 11.00% |
| SRO 1125(I/2015 Manufacturer Importing items covered under said SRO | 148 | 1.00% | 2.00% |
| Persons importing finished pharmaceutical products | 148 | 4.00% | 8.00% |
| Dividend | 150 | 7.50% to 25% | 15% to 50% |
| Profit on Debt:( Other than Companies) | |||
| -upto 500,000 | 151 | 10% | 20% |
| -above 500,000 | 151 | 15% | 30% |
| Royalty or Fee for Technical Services received by N.R | 152(1) | 15.00% | |
| Contracts by N.R | 152(1A) | 7.00% | 14.00% |
| Sale of Goods made by: | |||
| – Companies | 153(1)(a) | 4.00% | 8.00% |
| – Others | 153(1)(a) | 4.50% | 9.00% |
| Sale of Rice, Cotton Seeds, Edible Oils to Prescribe Persons | 153(1)(a) | 1.5% | 3.00% |
| Sale of Fast Moving consumer goods by Distributers: | |||
| – Companies | 153(1)(a) | 2% | 4% |
| – Others | 153(1)(a) | 2.5% | 5% |
| Supplies to Five Sector – Clause 45A(a) , Part IV of 2nd Schedule | 153(1)(a) | 0.5% | 1% |
| Electronics & Print media Advertising Services: | |||
| – Companies | 153(1)(b) | 1.50% | 3.00% |
| – Others | 153(1)(b) | 1.50% | 3.00% |
| Contracts:- | |||
| – Companies other than Listed Companies | 153(1)(c) | 7.00% | 14.00% |
| – Other Taxpayers Except Sportsperson | 153(1)(c) | 7.50% | 15.00% |
| – Sportspersons | 153(1)(c) | 10% | 20.00% |
| Services (Companies) other than Specified | 153(1)b | 8.00% | 16.00% |
| Services (By Others) other than Specified | 153(1)b | 10.00% | 17.50% |
| Specified Services | 153(1)b | 3.00% | 6% |
| Services to Five Sector – Clause 45A(a) , Part IV of 2nd Schedule | 153(1)b | 0.5% | 1% |
| Services of Stitching, Dyeing, Printing, Embroidery, Washing, Sizing & Weaving Rendered to Exporter or Export House | 153(2) | 1.00% | |
| Advertising Agents Commission | 233(1) | 10% | 20% |
| Life Insurance Agents Commission (If less than 0.5 M) | 233(1) | 8% | 16% |
| Brokerage & Commission (Other than above) | 233(1) | 12% | 24% |
| CNG stations (On amount of Gas Bill) | 234A | 4% | 8% |
| Electricity Bills (Ind. & AOPs) | 235(4)(a) | upto Bill Rs. 360,000 P.A | |
FINAL DISCHARGE OF TAX
| Nature of Payments | Section | Filer | Non-Filer |
|---|---|---|---|
| Exports | 154 | 1.00% | |
| Indenting Commission | 154(2) | 5.00% | |
| Prize on Prize Bond/ Crossword Puzzle | 156 | 15% | 30% |
| Winning from Raffle, Lottery, Quiz etc | 156 | 20% | 40% |
| Commission on Petroleum Products | 156A | 12.00% | 24.00% |
Know Your Tax Rate:
