Income Tax is a direct tax charged on the income of an assessee. Different classes of taxpayers are taxed differently under the Indian Income Tax laws. In the case of individuals, the taxable income of the assessee is grouped into income blocks, commonly known as slabs. The tax rates are decided based on the income slab of the taxpayer.
Net Income Range | Rate of Income Tax | Health and Education Cess |
Up to INR 2,50,000 | Nil | Nil |
INR 2,50,001 to INR 5,00,000 | 5% | 4% of income tax |
INR 5,00,001 to INR 10,00,000 | 20% | 4% of income tax |
INR 10,00,001 and above | 30% | 4% of income tax |
Net Income Range | Rate of Income Tax | Health and Education Cess |
Up to INR 3,00,000 | Nil | Nil |
INR 3,00,001 to INR 5,00,000 | 5% | 4% of income tax |
INR 5,00,001 to INR 10,00,000 | 20% | 4% of income tax |
INR 10,00,001 and above | 30% | 4% of income tax |
Net Income Range | Rate of Income Tax | Health and Education Cess |
Up to INR 5,00,000 | Nil | Nil |
INR 5,00,001 to INR 10,00,001 | 20% | 4% of income tax |
INR 10,00,001 and above | 30% | 4% of income tax |
Income details | Surcharge rate on calculated Income Tax |
Net income exceeds INR 50 lakhs but does not exceed INR 1 crore | 10% |
Net income exceeds INR 1 crore but does not exceed INR 2 crores | 15% |
Net income exceeds INR 2 crores but does not exceed INR 5 crores | 25% |
Net income exceeds INR 5 crores | 37% |
Net Income Range | Rate of Income Tax | Health and Education Cess |
Up to INR 2,50,000 | Nil | Nil |
INR 2,50,001 to INR 5,00,000 | 5% | 4% of income tax |
INR 5,00,001 to INR 10,00,001 | 20% | 4% of income tax |
INR 10,00,001 and above | 30% | 4% of income tax |
Income details | Surcharge rate on calculated Income Tax |
Net income exceeds INR 50 lakhs but does not exceed INR 1 crore | 10% |
Net income exceeds INR 1 crore but does not exceed INR 2 crores | 15% |
Net income exceeds INR 2 crores but does not exceed INR 5 crores | 25% |
Net income exceeds INR 5 crores | 37% |
Total Turnover | Rate of Income Tax | Cess |
If the gross turnover of the company does not exceed INR 400 Crores in the previous year 2017-18 | 25% | 4% of corporate tax |
Any other domestic company | 30% | 4% of corporate tax |
If the Company has opted for Section 115BAA | 22% | 4% of corporate tax |
If the Company has opted for Section 115BAB | 15% | 4% of corporate tax |
Income details | Surcharge rate on calculated Income Tax |
Net income exceeds INR 1 crore but does not exceed INR 10 crores | 7% |
Net income exceeds INR 10 crores | 12% |
Nature of Income | Rate of Income Tax |
● Royalty received from Government or an Indian concern in pursuance of an agreement made with the Indian concern after March 31, 1961, but before April 1, 1976, or ● Fees for rendering technical services in pursuance of an agreement made after February 29, 1964, but before April 1, 1976, and Where such agreement has, in either case, been approved by the Central Government | 50% |
Any other income | 40% |
Income details | Surcharge rate on calculated Income Tax |
Net income exceeds INR 1 crore but does not exceed INR 10 crores | 2% |
Net income exceeds INR 10 crores | 5% |
Net Income Range | Rate of Income Tax | Health and Education Cess |
Up to INR 10,000 | 10% | 4% of income tax |
INR 10,001 to INR 20,000 | 20% | 4% of income tax |
INR 20,001 and above | 30% | 4% of income tax |
😄Hello. Welcome to Masters India! I'm here to answer any questions you might have about Masters India Products & APIs. What brings you to our website today?
Looking for
GST Software
E-Way Bill Software
E-Invoice Software
BOE TO Excel Conversion
Accounts Payable Software
Invoice OCR Software/APIs
GST API
GST Verification API
E-Way Bill API
E-Invoicing API
KSA E-Invoice APIs
Vehicle tracking
Vendor Verification API
Other Requirement