Tax Rates: Assessment Year 2016-17
Tax Rates: Assessment Year 2016-17
Tax Rates: Assessment Year 2016-17
Tax Rate
Up to Rs. 2,50,000
Nil
10%
20%
30%
Tax Rate
Up to Rs. 2,50,000
Nil
10%
20%
30%
Add:
a) Surcharge: The amount of income-tax shall be increased by a surcharge at the rate
of 12% of such tax, where total income exceeds one crore rupees. However, the
surcharge shall be subject to marginal relief (where income exceeds one crore rupees,
the total amount payable as income-tax and surcharge shall not exceed total amount
payable as income-tax on total income of one crore rupees by more than the amount
of income that exceeds one crore rupees).
b) Education Cess: The amount of income-tax and the applicable surcharge, shall be
further increased by education cess calculated at the rate of two per cent of such
income-tax and surcharge.
c) Secondary and Higher Education Cess: The amount of income-tax and the
applicable surcharge, shall be further increased by secondary and higher education
cess calculated at the rate of one per cent of such income-tax and surcharge.