9911796707
TMI BlogIncome Tax Rates for Some Specific CasesX X X X Extracts X X X X X X X X Extracts X X X X ..... g Term Term Capital Gain from an asset being an equity share in a company or a unit of an equity oriented fund or a unit of business trust subject to STT or undertaken in foreign currency on a recognised stock exchange located in an IFSC, Without giving effect of Indexation. 10% 3 115B Profits and Gains of Life Insurance Business 12.5% 4 115BB Winning from lotteries, crossword puzzles, or race including horse race (not being income from activity of owning and maintaining race hose) or card game and other game of any sort or from gambling or betting of any form or nature 30% 5 115BBC Anonymous Donation received in excess of the higher of the following, namely:- - (A) five per cent of the total donations received by the assessee, or - (B) one ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion received in excess of the higher of the following, namely:- - (A) five per cent of the total donations received by the assessee, or - (B) one lakh rupees; 30% Note 1: - Add Surcharge - For rate of surcharge see rates below the tax slabs according to the status of the assessee in earlier chapters. Note 2: - Add Health and Education Cess - 4% of Income Tax ============================ For the Assessment Year 2017-18 2018-19 Sr.No. Section Income Rate of Income Tax 1 111A Short Term Capital Gain from an asset being an equity share in a company or a unit of an equity oriented fund subject to STT 15% 2 112 Long Term Capital Gain [Other than an asset being an equity share in a company or a unit of an equity oriented fund subject to STT - Sec. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e (not being income from activity of owning and maintaining race hose) or card game and other game of any sort or from gambling or betting of any form or nature 30% 5 115BBC Anonymous Donation received in excess of the higher of the following, namely:- - (A) five per cent of the total donations received by the assessee, or - (B) one lakh rupees; 30% Note 1: - Add Surcharge - Rate of Surcharge is Nil in the following cases: a. If the taxpayer is an Individual / HUF/ BOI/ AOP b. If the taxpayer is firm c. If the taxpayer is company (domestic or non-domestic company) and net income does not exceed ₹ 1 crore. d. If the taxpayer is a co-operative or local authority. Rate of Surcharge will be 5% in the following cases: a. If the taxpayer is ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 10 crore @ 5% if income exceeds ₹ 10 crore. ============================ Income Tax Rates for Some Specific Cases For the Assessment Year 2011-2012 Sr.No. Section Income Rate of Income Tax 1 111A Short Term Capital Gain from an asset being an equity share in a company or a unit of an equity oriented fund subject to STT 10% 2 112 Long Term Capital Gain [Other than an asset being an equity share in a company or a unit of an equity oriented fund subject to STT - Sec. 10(38) ] 20% 3 115B Profits and Gains of Life Insurance Business 12.5% 4 115BB Winning from lotteries, crossword puzzles, or race including horse race (not being income from activity of owning and maintaining race hose) or card game and other game of any sort or from gamblin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y oriented fund subject to STT 10% 2 112 Long Term Capital Gain [Other than an asset being an equity share in a company or a unit of an equity oriented fund subject to STT - Sec. 10(38) ] 20% 3 115B Profits and Gains of Life Insurance Business 12.5% 4 115BB Winning from lotteries, crossword puzzles, or race including horse race (not being income from activity of owning and maintaining race hose) or card game and other game of any sort or from gambling or betting of any form or nature 30% 5 115BBC Anonymous Donation received in excess of the higher of the following, namely:- - (A) five per cent of the total donations received by the assessee, or - (B) one lakh rupees; 30% Note 1: - Add Surcharge - Rate of Surcharge is Nil in the following ca ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... uzzles, or race including horse race (not being income from activity of owning and maintaining race hose) or card game and other game of any sort or from gambling or betting of any form or nature 30% 5 115BBC Anonymous Donation 30% Note 1: - Add Surcharge - Rate of Surcharge is Nil in the following cases: a. If the taxpayer is an Individual / HUF/ BOI/ AOP and income does not exceed ₹ 10,00,000 b. If the taxpayer is firm or domestic company and net income does not exceed ₹ 1 crore. c. If the taxpayer is non-domestic company and net income does not exceed ₹ 1 crore. d. If the taxpayer is a co-operative or local authority. Rate of Surcharge will be 10% in the following cases: a. If the taxpayer is an Individual / HUF/ BOI/ A ..... X X X X Extracts X X X X X X X X Extracts X X X X
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