.: T A X C O N :.

INCOME TAX :

Rate Of Tax :

Assessment Year 2010-11 :-

Tax rate for the assessment year 2010-11 are given as follows:

1. For Resident Women [who is below 65 years at any time during the previous year] :-

Net Income Range	Income Tax Rate	Education Cess	Secondary and Higher education Cess
Up to Rs.1,90,000	Nil	Nil	Nil
Rs.1,90,000-Rs.3,00,000	10% of (total income minus Rs.1,90,000)	2% of Income Tax	1% of Income Tax
Rs.3,00,000-Rs.5,00,000	Rs.11,000+20% of (total income minus Rs.5,00,000)	2% of Income Tax	1% of Income Tax
Above Rs 5,00,000	Rs.51,000+30% of (total income minus Rs 5,00,000)	2% of Income Tax	1% of Income Tax

2. For resident Senior Citizen ( who is 65 years or more at any time during the previous year) :-

Net Income Range	Income Rate Tax	Education Cess	Secondary and Higher education Cess
Upto Rs.2,4,000	Nil	Nil	Nil
Rs.2,4,000-Rs.3,00,000	10% of (total income minus Rs.2,40,000)	2% of Income Tax	1% of Income Tax
Rs.3,00,000-Rs.5,00,000	Rs.6,000+20% of (total income minus Rs.3,00,000)	2% of Income Tax	1% of Income Tax
Above Rs 5,00,000	Rs.46,000+30% of ( total income minus Rs.5,00,000)	2% of Income Tax	1% of Income Tax

3. For any other Individual, every HUF/AOP/BOI/Artificial Juridical Person :-

*Net* *Income Range*	*Income Rate Tax*	*Education Cess*	*Secondary and Higher education Cess*
Up to Rs. 1,60,000	Nil	Nil	Nil
Rs. 1,60,000-Rs 3,00,000	10% of ( total income minus Rs.1,60,000)	2% of Income Tax	1% of Income Tax
Rs 3,00,000-Rs 5,00,000	Rs.14,000+20% (total income minus Rs.3,00,000)	2% of Income Tax	1% of Income Tax
Above Rs 5,00,000	Rs.54,000+30% of (total income minus Rs.5,00,000)	2% of Income Tax	1% of Income Tax

Notes:-
1.Surcharge = Nil
2.Education Cess:-It is 2% of Income Tax,
3.Secondary and Higher education cess-1% of income Tax.
4.Firm :-
A firm is taxable at the rate of 30% for the assessment year 2010-11
Surcharge (for the assessment year 2010-11) :Nil
Education Cess:-2% of Income tax and Surcharge
Secondary and Higher education Cess:- 1% of Income Tax and Surcharge.

5. Companies:-
For the assessment year 2010-11 the following rate of income tax are applicable:-

Company

Rate of Tax (Percent)

In case of Domestic Company
In case of Foreign Company
     -royalty received for the government or an Indian concern in the
      pursuance of an agreement made by it with the Indian concern
      after march 31,1961,but before april 1,1976 ,of fees for rendering
      technical service in pursuance of an agreement made by it after
      February 29,1964 but before April 1,1976 and where such
      agreement has ,in either case been approved by the central
      government,
     - Other Income

Surcharge:-Surcharge is applicable at the rate given below:-

If the net income does not exceed Rs.1Crore

If the net income exceed Rs.1Crore

Domestic Company

Foreign Company

Nil

10%

2.5%

Notes:-
Marginal Relief:- In case of company having a net income of exceeding Rs.1 crore, the net amount payable as income tax and surcharge shall not exceed the total amount payable as Income tax on total income of Rs.1Crore by more than the amount of income that exceed Rs.1crore.
Education Cess:- 2% of Income Tax and Surcharge,
Secondary and Higher education cess:- 1% of income tax and Surcharge,

Minimum Alternate Tax Rate:- The following rate of minimum alternate tax shall be applicable :-

	If the book profit does not exceed Rs.1 crore					If the book Profit exceed Rs.1Crore
	IT	SC	EC	SHEC	Total	IT	SC	EC	SHEC	Total
Domestic Company	15	-	0.3	0.15	15.45	15	1.5	0.33	0.165	16.995
Foreign Company	15	-	0.3	0.15	15.45	15	0.375	0.3075	0.15375	15.83625

Notes:- If book profit of a company exceed Rs.1Crore,minimum alternate tax cannot exceed the following:[Rs.15lakh+Book
Profit-Rs.1Crore]+EC+SHEC
6.Co-operative societies:- The following rate are applicable to a co-operative society for the assessment year 2010-11:-

*Net* *Income Range*	Rate of Income Tax
Up to Rs.10,000 Rs.10,000 and Rs 20,000 Rs20,000 and above	10 20 30

Notes:-
Surcharge:-Nil
Education Cess:- It is 2% of Income tax
Secondary and higher education cess:- 1% of Income Tax.
6.Local Authorities:-
Local authorities are taxable at the rate of 30%
Surcharge :-Nil
Education Cess:- 2% of income tax
Secondary and higher education cess:-1% of income tax.

Tax rate specified in the income tax act:-The following income are taxable at the rate specified by the income tax act and not at the rate mentioned in the paras0.1-1 to0.1-5 supra

*Section*	*Income*	*Rate*
111A	Short Term Capital Gain	15
112	Long Term Capital Gain	20
115A(1)(a)(i)	Dividend Received by the foreign company or a non resident non corporate assessee [it is not applicable in case of the dividend referred to in the section 115-O]	20*
115A(1)(a)(ii)	Interest received by a foreign company or a non resident non corporate assessee from government or Indian concern on money borrowed or debt incurred by the government or the Indian concern in the foreign currency.	20
115A(1)(b)	Royalty or fees for technical service received by a foreign company or non resident non corporate assessee from an Indian concern or government in pursuance of an agreement approved by the central government and made after:- a)March 31,1976 but before June 1,1997 b)May 31,1997,but before June 1,2005 c)May31,2005	30 20 10
115AB	Income of an overseas financial organization on transfer of unit purchased in foreign currency being long term capital gain.	10
115AC	Income from bond or Global Depositary receipts or on bonds or Global Depositary Receipt of a public sector company sold by the government and purchased in the foreign currency or long term capital gain arising from their transfer *[not applicable in case of dividend referred to in section 115-O]	10
115ACA	Income from Global Depositary receipt held by a resident individual who is an employee of an Indian company engaged in Information Technology software/Service:- a)Dividend[other than dividend referred to in section 115-O on Global Depositary Receipt issued under employee stock option scheme and purchased in foreign currency b)Long Term Capital Gain on transfer of such receipts	10 10
115AD	Income in respect to listed securities received by a foreign institutional investor a specified by government:- a)Short term capital gain covered by section 111A b)Any other short term capital gain c)Long Term Capital Gain d)Other income [* not applicable in case of dividend referred to in section 115-O]	15 10 30 20*
115B	Profit and gain of Life Insurance Business	12.5
115BB	Winning from lotteries, crosswords puzzle, or race including Horse race[ not being income from the activity of owing and maintaining race horse] or card Game and other game of any sort or from gambling or betting of any form or nature.	30
115BBA	Income of a non resident foreign citizen sportsman for participation in any game in India or received by way of an advertisement or for contribution of article relating to any game or sports in India or income of a non resident sports association by way of guarantee money.	10
115BBC	Anonymous donation	30
115E	Income from foreign exchange assets and capital gain of non resident Indian:- a)Income from foreign exchange assets [*not applicable in case of dividend referred to in section 115-O] b)Long term Capital Gain	20* 10
115JB	Tax on book profits of certain companies for the assessment year 2010-11.	15
161(1A)	Profit and gain of a business in case of a trust	30
164	Income of a privet discretionary trust where share of a beneficiaries are indeterminate	30
164A	Income of an oral trust	30
167A	Income of a firm	30
167B	Income of an AOP or BOI if share of member are unknown	30
167B(2)	Income of an AOP or BOI if total income of any member(excluding share from association or body) exceed the maximum amount not chargeable to tax [*if total income of any member of the association or body is chargeable to tax at a rate higher than 30.9% for the assessment year 2010-11,then tax shall be charged on that portion of the total income of the association/body which is relatable to the share of such member at such higher rate an the balance of the total income is taxable at the rate 30.9% for the assessment year 2010-11respectively]	30*

These rate are subject to surcharge, education cess, and secondary and higher secondary education cess which are as follows:-
1.Surcharge:- The above income tax rate are subject to surcharge as follows:-

Assessment year
2010-11

1.Individual/HUF/AOP/BOI if net income does not exceed Rs.10Lakhs
2.Individual/HUF/AOP/BOI if net income exceed Rs.10lakhs
3.Artificial Juridical Person
4.Co-operative society, Local Authority
5.Firm if net income does not exceed Rs.1 crore
6.Firm if net income exceed Rs.1 crore
7.Domestic Company if net income does not exceed Rs.1 crore
8.Domestic company if net income exceed Rs.1 crore
9.Foreign company if net income does exceed Rs.1 crore
10.Foreign company if net income exceed Rs.1 crore

Nil
Nil
Nil
Nil
Nil
Nil
Nil
10%
Nil
2.5%

Education Cess:- 2% of sum total of income tax and Surcharge
Secondary and Higher education cess:- 1% of income Tax and surcharge.

Dividend Tax U/S 115-O:-
During the financial year the dividend tax shall be charged as follows:-

Dividend Tax

SHEC

Total

Dividend* [Other than deemed dividend U/S 2(22) (e)]

Deemed dividend U/S 2(22)(e)**

1.5

0.33

0.165

16.995

*Not taxable in the hand of shareholder [sec.10 (34)]
**Taxable in the hand of shareholders U/S 56, without claiming any deduction U/S 80L or 80M.The payer of such deemed dividend is liable to deduct tax at source U/S 194