Tax Reckoner

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Tax Reckoner

Financial year 2017-18 and are subject to enactment of the Finance Bill, 2017

For Individuals, Hindu Undivided Family, Association of Persons, Body of Individuals and Artificial juridical persons

Income Tax Tax Rate
Up to 250000 (a)(b) Nil
Rs. 250,001 to Rs. 500,000(d)(e) 5%
Rs. 500,001 to Rs. 1,000,000(d) 20%
Rs. 1,000,001 and above(c)(d) 30%
  1. In the case of a resident individual of the age of 60 years or above but below 80 years, the basic exemption limit is Rs 300,000.
  2. In case of a resident individual of age of 80 years or above, the basic exemption limit is Rs 500,000.
  3. Surcharge @ 12% is applicable on income exceeding Rs 1 crore; Marginal relief for such person is available
  4. Education cess is applicable @ 3% on aggregate of tax plus surcharge
  5. Finance Bill, 2017 provides a rebate of lower of actual tax liability or Rs. 2,500 (against earlier rebate of Rs. 5,000) in case of individuals having total income of less than Rs. 350,000.

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  • New Delhi Office

    505, 507, 5th Floor,
    Bhikaiji Cama Bhawan,
    Bhikaiji Cama Place
    New Delhi 110 066
    Delhi, India

    Phone: +91 11 2617 8458, +91 11 4165 9124
    Fax: +91 11 2618 8247
    Email: contact@sa-co.in
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