IncomeTax RateUp to 2.50 lakhNil2.50 lakh to 5.00 lakh5% of the amount exceeding 2.50 lakh5.00 lakh to 7.50 lakhRs.12,500 + 10% of the amount exceeding 5.00 lakh7.50 lakh to 10.00 lakhRs.37,500 + 15% of the amount exceeding 7.50 lakh10.00 lakh to 12.50 lakhRs.75,000 + 20% of the amount exceeding 10.00 lakh12.50 lakh to 15.00 lakhRs.12.5 lakh + 25% of the amount exceeding 12.50 lakh15.00 lakh & aboveRs.1,87,500 + 30% of the amount exceeding 15.00 lakh

  • 4% Health and Education Cess is applicable on all the above taxes.
  • Rebate of Rs. 12,500 u/s 87A is applicable for tax slabs of both old and new regimes, for taxes on annual income not exceeding Rs. 5.00 lakh.

Surcharges on New Regime Income Tax of AY 2021-22

Additional surcharges are levied for super rich with income as given below:

Income Surcharge
Total income including STCG u/s 111A and LTCG u/s 112A more than Rs.50 lakh but not exceeding Rs.1 crore 10%
Total income including STCG u/s 111A and LTCG u/s 112A more than Rs.1 crore but not exceeding Rs.2 crore 15%
Total income excluding STCG u/s 111A and LTCG u/s 112A more than Rs.2 crore but not exceeding Rs.5 crore 25%
Total income excluding STCG u/s 111A and LTCG u/s 112A more than Rs.5 crore 37%

Tax rates for domestic companies

Income Surcharge
Company opting for section 115BA 25%
Company having turnover or gross receipt of up to Rs. 400 crore in the previous year 2017-18 30%
Company opting for section 115BAA 22%
Company opting for section 115BAB 15%
Any other company 30%
MAT 15%
Foreign company 40%

Surcharges on New Regime Income Tax of AY 2021-22

Additional surcharges are levied for Net income is between Rs. 1Cr. ? 10 Cr. as given below:

Income Surcharge
Domestic company 7%
Foreign company 2%

Additional surcharges are levied for Net income is exceeds Rs. 10Cr.. as given below:

Income Surcharge
Domestic company 12%
Foreign company 5%

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