Tuesday, September 26, 2017

Income Tax :- Income Tax Slabs for the F.Y. 2017-18

Financial Year 2017-18

A. Tax Rates For Individuals (Men & Women), Hindu Undivided Families, Association of Persons and Body of Individuals

Total Income (Rs.) Tax Rate (%)
Upto Rs. 250,000*          Nil
250,001 to 500,000           5
500,001 to 10,00,000 20
Above Rs. 10,00,000 30

*In the case of a resident individual of sixty years or more but less than eighty years, the basic exemption limit is Rs. 3,00,000
*Relief for Taxpayers in the first bracket of '250000' to '350000'. A Tax credit of 2500 to every person with total income upto 3,50,000
The category of women below the age of 65 years has been removed



B. Tax Rates For Senior Citizens (80 Years Or Above)

Total Income (Rs.) Tax Rate (%)
Upto Rs. 500,000*         Nil
500,001 to 10,00,000 20
Above Rs. 10,00,000 30
Surcharge is @ 15% if total taxable income is in excess of Rs. 10,000,000
Education cess is applicable @ 3% on income tax
Marginal relief may be available


C. Tax Rates For For Partnership Firms
                             Tax Rate (%)
Partnership Firms are taxable @ 30%
Surcharge is @ 12% if total taxable income is in excess of Rs. 10,000,000
Education cess is applicable @ 3% on income tax



D. Tax Rates For Domestic Companies
                             Tax Rate (%)
Domestic companies are taxable @ 25% where gross receipt in the previous year does not exceed fifty crore rupees
Domestic companies are taxable @ 30% where gross receipt in the previous year exceed fifty crore rupees
Surcharge is 7 % if total taxable income is in excess of Rs. 10,000,000 but not exceeding 100,000,000
Surcharge is 12 % if total taxable income is in excess of Rs. 100,000,000
Education cess is applicable @ 3% on income tax (inclusive of surcharge, if any)



E. Tax Rates For Foreign Companies
                              Tax Rate (%)
Foreign companies are taxable @ 40%
Surcharge is 2 % if total taxable income is in excess of Rs. 10,000,000 but not exceeding 100,000,000
Surcharge is 5 % if total taxable income is in excess of Rs. 100,000,000
Education cess is applicable @ 3% on income tax (inclusive of surcharge, if any)



F. In the case of every co-operative society Tax Rate (%)
(1) where the total income does not exceed Rs. 10,000 10 per cent. of the total income

(2) where the total income exceeds Rs. 10,000 but does not exceed Rs. 20,000 Rs. 1,000 plus 20 per cent. of the amount by which the total income exceeds Rs. 10,000

(3) where the total income exceeds Rs. 20,000 
10 per cent. of the total income; Rs. 3,000 plus 30 per cent. of the amount by which the total income exceeds Rs. 20,000

Surcharge is 12 % if total taxable income is in excess of Rs. 10,000,000
Education cess is applicable @ 3% on income tax

Intense Debate Comments

Labels

.csi file (5) "Y" Cancellation Statement (5) (TRPS) (2) 1% TCS on Cash Sale (1) 10(10D) (1) 10E form (1) 119(1) (1) 13 (1) 15G (8) 15H (8) 16A FROM FVU (25) 16A from TXT (3) 192 (1) 194 IA (1) 194A (1) 194C (4) 194H (1) 194I (1) 194J (2) 194LA (1) 194LC (1) 20% TDS (5) 2011 (1) 234A (1) 234E (2) 24Q4 (4) 26AS (21) 26Q4 (1) 27A form from FVU (5) 3CB (2) 3CD (1) 44AB (2) 44AD (1) 44AF (1) 49C (1) 7th pay commission (1) 80-IA (1) 80C (4) 80CCC (2) 80CCD (2) 80CCF (8) 80CCG (4) 80D (1) 80E (1) 80G (6) 80GG (2) 80QQB (1) 80TTA (2) 80U (1) 87A (1) 89(1) Relief (13) aadhaar (7) Aadhaar Form (3) Aadhaar Software (3) Accounting Standards (1) Accounts (1) add new challan (1) Advance Tax (29) Advance Tax Calculator (15) Age Calculator (3) AIR Codes (3) AMT (1) Application Form (2) APY (1) AS (1) ASBA (2) ATM Reconciliation (1) Authentication Code (1) B.Ed in Haryana (8) B.Ed Rohtak (2) Bank Charges (7) Banking Rates (19) Banks (17) Batch File (1) Belated Income Tax Return (4) Bills of Exchange (1) BOOKLET (1) Bootable USB (1) Broad Band (6) BSNL Forms (3) BSNL Free (4) BSNL Plan (4) BSNL usage (3) BSR Code (2) Budget (12) Budget 2012-13 (10) Budget 2013-14 (4) Budget 2014-15 (9) Budget 2016-17 (2) Bulk Pan Verification (1) Calculators (30) Calendar (3) Capital Gain (3) Central Excise (52) Challan Correction (4) Challan 280 (9) Challan 281 (8) Challan Status Query (1) Change of Deductor Category (1) Changes w.e.f. 01.06.2015 (1) Cheques (1) Children Education Allowance (1) Circulars (10) Cloud Printing (1) Clubbing of Income (1) Codes (7) Company (1) Complaint Form (1) Composition Scheme (1) Computer Repair (2) Consolidated File (9) Convert .docx to .doc (1) convert .rpt to .xls (1) Convert .xlsx to .xls (1) Corporate Salary Package (2) CPC (1) CPC Call Center (2) CPT (5) CTS-2010 (3) currency of 500 and 1000 (3) Customs (73) CWE (2) D.A. (6) Debit Card Scheme (1) Declared Goods (2) deduction from salary (3) Deductions (10) Default Status (8) Defaulter (3) Defective Return (1) Depreciation (3) Digital Signature (4) Direct Tax Codes (4) Diwali (1) DND (1) Dos to USB (Printing) (4) Download Exchange currency Form of old 500 or 1000 (1) Drop Box (1) DSC (1) DTO (1) due date (14) Due Dates (68) Duplicate Currency (1) Duplicate form 16 (3) e-Aadhaar (1) e-Electricity Bill (3) e-Excise (4) e-filing (66) e-Filing FAQ's (1) e-GRAS (1) e-Land Line Phone Bill (1) e-Payments (15) e-Post (1) e-Tax (1) e-TDS (20) e-Tutorial (1) e-Verification of Income Tax Returns (2) Electronic Signature (1) Emails (1) Employees Provident Fund (3) English Tenses (1) Enrollent Form (1) EPF (4) ETDS (14) Etds /Etcs (140) etds correction statement (86) etds\ (2) Excel (19) Excess TDS Deposit (3) Exchange of Currency (3) Excise Return (1) Excise Software (1) Exempted Income (10) Exempted Items from Vat (1) Exemption From Filling I-T Return (10) Extension in due Date (6) F.Y.2011-12 (1) FAQ (1) FAQ-Excise (1) Fast Calculation (3) Fat Calculator (1) FDR (4) Finance Bill (8) First Prize in Government Departments (1) Flag in TDS Retunr (1) Flood (1) Forget Password (11) FORM 15G (2) FORM 16 (1) Form 16 or Form 16A Directly from FVU files (22) Form 16A PDF Converter Utility (5) Form 16A PDF Generator (4) FORM 24G (1) Form 26AS (3) FORM 3CB (2) FORM 3CD (1) Form 49A (4) Form 49AA (2) Form B (1) form BB (1) forms (12) Free Calls from Mobile (2) Free Internet (1) Free of Cost Submission of TDS Returns (2) Free SMS (2) FVU 2.130 (1) FVU 2.131 (1) FVU 3.1 (1) FVU 3.3 (1) GAR7 Challan (1) Gas (6) Gift Tax (4) Google Drive (1) GPF (1) Gratuity Tax Exemption (2) Greeting (2) GST (22) GST Adjustment (1) GST Composition Scheme (1) GST Due Dates (1) GST Exemption (2) GST ITC Adjustment (1) GST Validation (1) GSTR-3B (1) H.U.F. (2) Handicapped/Blind Allowance (1) Happy Diwali (2) Happy New Year (2) Happy New Year 2014 (1) Haryana (1) Haryana Vat Forms (3) HDFC (1) Housing Property Loss (2) HRA (2) HSN CODES (1) HYUNDAI (1) IBPS (4) ICC World Cup 2011 (6) icicilombard (2) IFSC (1) IIT-JEE (1) Important Day's (1) Income Tax (29) Income Tax Calculator (30) income tax challans (1) Income Tax Forms (18) income Tax Return (1) Index Rate (1) Indian Currency Symbol (5) Indian Government (1) Infrastructure Bond (5) insurance (4) Interest on Loan for House Property u/s 24(b) (2) Interest on TDS (4) Interest Rates (10) intimation u/s 143(1) (1) Investment (1) IPCC (2) IPCE (1) IPL 2011 (1) IPL 2011 Schedule (2) ITR (72) ITR FORMS (3) ITR-4 (1) ITR-4S SUGAM (14) ITR-5 (1) ITR-7 (1) ITRV (4) Jain Temple (1) Jan Lokpal Bill (1) JOB (3) jobs (2) Justification Report (3) Know Name through Pan (5) Know Online EPF Balance (2) Know Your Age (1) Know Your Pan (3) Knowledge (7) KVP (2) KYC (4) Last Date (1) late filing of TDS return (1) Leave Travel Allowance (1) Legal Heir (1) LIC (3) Life Insurance Policy (1) Login at TRACES (1) Login Page for online upload TDS Return (4) Lokpal Bill (2) LPG (7) LTC (1) Mandatory (7) Manual (1) Master Card (1) mca (1) MEDICLAIM (1) Memorandum (2) MetLife (2) MICR Codes (6) Mobile (12) Mutual Funds (4) NEFT (1) Net Banking (3) new FORM 3CA (2) new form 3CB (2) new form 3CD (1) New Form ST3 (1) New Fvu (14) New Income Tax Slab (25) NEW ITR RPU (5) NEW ITR FORMS (7) New ITR-1 SAHAJ (20) NEW ORM 3CD (1) New Pension Scheme (3) New RPU (28) NEW RPU 2.4 (2) New RPU 2.8 (2) NEW RPU 4.4 (1) News (13) NIL TDS RETURN (2) Notification (46) NSDL (Form16A) (11) NSDL (RPU) (4) nsdl Conso. File (1) NSDL Form 16 (5) NSSF (2) OBC (1) OLTAS (1) Ombudsman (3) Online Facility (5) Online Income Tax Return (10) Online Pan (1) Online Rectification Request u/s 154 (11) Online submission of etds return (5) Outstanding Tax Demand (2) Pan (22) Pan % (1) Pan Error (1) PAN Ledger (3) Pan Verification (3) PAO (1) Passport (2) Password (2) Password Recovery (1) Pay Calculator (4) pay commission (1) Payroll (1) PDF Generator (4) PDF Software (2) Penalty (7) Perquisites (9) Petrol Rate (1) PF (2) PMJJBY (1) PMSBY (1) PNB (3) POS (1) Post Office Interest Calculators (13) PPF (9) Press Release (4) Quarter 2 TDS return (1) Railway (5) Railway Budget (3) rbi (2) RBI Circulars (5) Re-generation of Tax Receipt (1) Re-Registration of TAN (4) READY RECKONER (1) Rectification Manual (3) Rectification Order u/s 154 (2) Refund of Income Tax (13) Refund of TDS (3) Refund Reissue (2) Registration at TRACES (3) Registration e-TDS (2) Registration of TAN in e-filing site (1) Registration Procedure (2) Rejected eTDS/e-TCS (22) Renewal or Updation in Digital Signature for e-tds return (2) Resend Activation Link (1) Reset Password (1) Result (2) Revised ITR (4) Royalty (2) RPU (13) RPU 1.3 (1) RPU 2.6 (1) RPU 2.7 (2) RPU 2.9 (1) RPU 3.0 (1) RPU 3.1 (1) RPU 3.2 (1) RPU 3.3 (1) RPU 3.4 (1) RPU 3.5 (1) RPU 3.6 (1) RPU 3.7 (3) RPU 3.8 (1) RPU 3.9 (1) RPU 4 (1) RPU 4.1 (1) RPU 4.2 (1) RPU 4.3 (1) RTGS (1) RTI (1) RULES FOR ITR-1 (1) S.B.I. Software (4) Salary (18) Savings (7) SBI (37) Search GST Rates (5) Section (16) section 10 (2) Section 10(46) (2) section 197 (2) section 201 (1) Section 35CCD (1) Service Tax (111) Service Tax Codes (12) Shares (1) short payment (1) SMALL SAVING SCHEMES (11) Software (5) ST-3 (1) State Bank of Patiala (1) statement Status (1) Status (3) Status of KYC (1) STCG (1) STD Codes (1) Stock Valuation (1) Survey (1) T7Import (1) Tally (58) Tan (2) Tan Registration (32) Tariff (3) Tax Accounting Standards (1) TAX AUDIT (1) Tax Audit Limit (1) Tax Free Bonds (1) Tax Rate Flag (1) Tax Rates (3) Tax Return Preparer (1) TCS (1) TDS Calculator (3) Tds on Properties (1) TDS on Rent (2) TdS on Salary (5) TDs Rates (14) Toll Free Number (2) TRACES (11) Track (1) Trade Fair (1) Traffic Rules and Signals (3) TRAI (4) Transport Allowance (1) u/s 139(4) (3) u/s 143(1) (2) UIDAI (1) Unconsumed Challans (1) Union Budget (11) Upload (2) USB Bootable Creator Tool (1) value of Flag (2) Vat (4) Verify Pan Through PAN (1) View Tax Credit (12) Virtual Card (1) Visa (2) WEALTH TAX (1) WhatsApp (1) Windows (2) XBRL (1) Zero Uploading Fee (3)