Last 25 years income tax rates

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Last 25 years income tax rates

  1. 1. Last 25 years Income Tax Rates for Individuals, HUF, AOP’s, BOI’s (AY 1992-93 to AY 2014-15) By Shankar Bose Inspector of Income Tax O/o the Principal Chief Commissioner of Income Tax, Odisha, Bhubaneswar
  2. 2. Income Tax Rates for Assessment Year 1992-93 Income Slab (Rs.) Tax Rate 0 – 22,000 0% 22,001 – 30,000 20% 30,001 – 50,000 30% 50,001 – 1,00,000 40% 1,00,001 and above 50% Surcharge: 12% Surcharge if taxable income exceeds Rs. 75,000
  3. 3. Income Tax Rates for Assessment Year 1993-94 Income Slab (Rs.) Tax Rate 0 – 28,000 0% 28,001 – 50,000 20% 50,001 – 1,00,000 30% 1,00,001 and above 40% Surcharge: 12% Surcharge if taxable income exceeds Rs. 1,00,000
  4. 4. INCOME SLAB (RS.) TAX RATE 0 – 30,000 0% 30,001 – 50,000 20% 50,001 – 1,00,000 30% 1,00,001 AND ABOVE 40% SURCHARGE: 12% IF TAXABLE INCOME EXCEEDS RS. 1,00,000 Income Tax Rates for Assessment Year 1994-95
  5. 5. Income Tax Rates for Assessment Year 1995-96 • Income Slab (Rs.) Tax Rate • 0 – 35,000 0% • 35,001 – 60,000 20% • 60,001 – 1,20,000 30% • 1,20,001 and above 40% • Surcharge: No Surcharge
  6. 6. Income Tax Rates for Assessment Year 1996-97 • Income Slab (Rs.) Tax Rate • 0 – 40,000 0% • 40,001 – 60,000 20% • 60,001 – 1,20,000 30% • 1,20,001 and above 40% • Surcharge: No Surcharge
  7. 7. Income Tax Rates for Assessment Year 1997-98 • Income Slab (Rs.) Tax Rate • 0 – 40,000 0% • 40,001 – 60,000 15% • 60,001 – 1,20,000 30% • 1,20,001 and above 50% • Surcharge: No Surcharge
  8. 8. Income Tax Rates for Assessment Year 1998-99 • Income Slab (Rs.) Tax Rate • 0 – 40,000 0% • 40,001 – 60,000 10% • 60,001 – 1,50,000 20% • 1,50,001 and above 30% • Surcharge: No Surcharge
  9. 9. Income Tax Rates for Assessment Year 1999-2000 • Income Slab (Rs.) Tax Rate • 0 – 50,000 0% • 50,001 – 60,000 10% • 60,001 – 1,50,000 20% • 1,50,001 and above 30%
  10. 10. Income Tax Rates for Assessment Year 2000-01 • Income Slab (Rs.) Tax Rate • 0 – 50,000 0% • 50,001 – 60,000 10% • 60,001 – 1,50,000 20% • 1,50,001 and above 30% • Surcharge: 10% if the taxable income exceeds Rs.60,000
  11. 11. Income Tax Rates for Assessment Year 2001-02 • Income Slab (Rs.) Tax Rate • 0 – 50,000 0% • 50,001 – 60,000 10% • 60,001 – 1,50,000 20% • 1,50,001 and above 30% • Surcharge: 10% if the taxable income exceeds Rs. 60,000 but below Rs. 1,50,000 and 15% if the taxable income exceeds Rs. 1,50,000
  12. 12. Income Tax Rates for Assessment Year 2002-03 • Income Slab (Rs.) Tax Rate • 0 – 50,000 0% • 50,001 – 60,000 10% • 60,001 – 1,50,000 20% • 1,50,001 and above 30% • Surcharge: 2% for the gross income exceeding Rs. 60,000.
  13. 13. Income Tax Rates for Assessment Year 2003-04 • Income Slab (Rs.) Tax Rate • 0 – 50,000 0% • 50,001 – 60,000 10% • 60,001 – 1,50,000 20% • 1,50,001 and above 30% • Surcharge: 5% for the gross income exceeding Rs. 60,000.
  14. 14. Income Tax Rates for Assessment Year 2004-05 • Income Slab (Rs.) Tax Rate • 0 – 50,000 0% • 50,001 – 60,000 10% • 60,001 – 1,50,000 20% • 1,50,001 and above 30% • Surcharge: 10% if the total taxable income exceeds Rs. 8,50,000
  15. 15. Income Tax Rates for Assessment Year 2005-06 • Income Slab (Rs.) Tax Rate • 0 – 50,000 0% • 50,001 – 60,000 10% • 60,001 – 1,50,000 20% • 1,50,001 and above 30% • Surcharge: 10% if the total taxable income exceeds Rs. 8,50,000 • Education Cess: 2% on Income Tax plus Surcharge
  16. 16. Income Tax Rates for Assessment Year 2006-07 • RESIDENT SENIOR CITIZENS ABOVE 60 YEARS (SENIOR CITIZENS) • Taxable Income Slab (Rs.) Tax % • 0 – 1,85,000 0% • 1,85,001 – 3,00,000 10% • 3,00,001 – 5,00,000 20% • 5,00,000 and above 30% • • Resident Women below 60 years (Female Individuals) • Taxable Income Slab (Rs.) Tax % • 0 – 1,35,000 0% • 1,35,001 – 3,00,000 10% • 3,00,001 – 5,00,000 20% • 5,00,000 and above 30% Contd….
  17. 17. Income Tax Rates for Assessment Year 2006-07 • All Others (Male Individuals, NRIs etc.,) • Taxable Income Slab (Rs.) Tax % • 0 – 1,00,000 0% • 1,00,001 – 3,00,000 10% • 3,00,001 – 5,00,000 20% • 5,00,000 and above 30% • Surcharge @ 10% on Income Tax, if Taxable Income exceeds Rs. 10,00,000 • Education Cess @ 2% and Secondary & Higher Education Cess @ 1% (on Income Tax & Surcharge)
  18. 18. Income Tax Rates for Assessment Year 2007-08 • RESIDENT SENIOR CITIZENS ABOVE 60 YEARS (SENIOR CITIZENS) • • Taxable Income Slab (Rs.) Tax % • 0 – 1,85,000 0% • 1,85,001 – 3,00,000 10% • 3,00,001 – 5,00,000 20% • 5,00,000 and above 30% • Resident Women below 60 years (Female Individuals) • Taxable Income Slab (Rs.) Tax % • 0 – 1,35,000 0% • 1,35,001 – 3,00,000 10% • 3,00,001 – 5,00,000 20% • 5,00,000 and above 30% • Contd…
  19. 19. Income Tax Rates for Assessment Year 2007-08 • All Others (Male Individuals, NRIs etc.,) • Taxable Income Slab (Rs.) Tax % • 0 – 1,00,000 0% • 1,00,001 – 3,00,000 10% • 3,00,001 – 5,00,000 20% • 5,00,000 and above 30% • Surcharge @ 10% on Income Tax, if Taxable Income exceeds Rs. 10,00,000 • Education Cess @ 2% and Secondary & Higher Education Cess @ 1% (on Income Tax & Surcharge)
  20. 20. Income Tax Rates for Assessment Year 2008-09 • Resident Senior Citizens above 60 years (Senior Citizens) • • Taxable Income Slab (Rs.) Tax % • 0 – 1,95,000 0% • 1,95,001 – 3,00,000 10% • 3,00,001 – 5,00,000 20% • 5,00,000 and above 30% • • Resident Women below 60 years (Female Individuals) • • Taxable Income Slab (Rs.) Tax % • 0 – 1,45,000 0% • 1,45,001 – 3,00,000 10% • 3,00,001 – 5,00,000 20% • 5,00,000 and above 30% • Contd…
  21. 21. Income Tax Rates for Assessment Year 2008-09 • All Others (Male Individuals, NRIs etc.,) • Taxable Income Slab (Rs.) Tax % • 0 – 1,10,000 0% • 1,10,001 – 3,00,000 10% • 3,00,001 – 5,00,000 20% • 5,00,000 and above 30% • Surcharge @ 10% on Income Tax, if Taxable Income exceeds Rs. 10,00,000 • Education Cess @ 2% and Secondary & Higher Education Cess @ 1% (on Income Tax & Surcharge)
  22. 22. Income Tax Rates for Assessment Year 2009-10 • Resident Senior Citizens above 60 years (Senior Citizens) • • Taxable Income Slab (Rs.) Tax % • 0 – 2,25,000 0% • 2,25,001 – 3,00,000 10% • 3,00,001 – 5,00,000 20% • 5,00,000 and above 30% • • Resident Women below 60 years (Female Individuals) • • Taxable Income Slab (Rs.) Tax % • 0 – 1,80,000 0% • 1,80,001 – 3,00,000 10% • 3,00,001 – 5,00,000 20% • 5,00,000 and above 30% • Contd….
  23. 23. Income Tax Rates for Assessment Year 2009-10 • All Others (Male Individuals, NRIs etc.,) • • Taxable Income Slab (Rs.) Tax % • 0 – 1,50,000 0% • 1,50,001 – 3,00,000 10% • 3,00,001 – 5,00,000 20% • 5,00,000 and above 30% • Surcharge @ 10% on Income Tax, if Taxable Income exceeds Rs. 10,00,000 • Education Cess @ 2% and Secondary & Higher Education Cess @ 1% (on Income Tax & Surcharge)
  24. 24. Income Tax Rates for Assessment Year 2010-11 • Resident Senior Citizens above 60 years (Senior Citizens) • • Taxable Income Slab (Rs.) Tax % • 0 – 2,40,000 0% • 2,40,001 – 3,00,000 10% • 3,00,001 – 5,00,000 20% • 5,00,000 and above 30% • • Resident Women below 60 years (Female Individuals) • • Taxable Income Slab (Rs.) Tax % • 0 – 1,90,000 0% • 1,90,001 – 3,00,000 10% • 3,00,001 – 5,00,000 20% • 5,00,000 and above 30% • Contd…
  25. 25. Income Tax Rates for Assessment Year 2010-11 • All Others (Male Individuals, NRIs etc.,) • Taxable Income Slab (Rs.) Tax % • 0 – 1,60,000 0% • 1,60,001 – 3,00,000 10% • 3,00,001 – 5,00,000 20% • 5,00,000 and above 30% • Surcharge: No Surcharge • Education Cess @ 2% and Secondary & Higher Education Cess @ 1% on Tax Payable
  26. 26. Income Tax Rates for Assessment Year 2011-12 • Resident Senior Citizens above 60 years (Senior Citizens) • • Taxable Income Slab (Rs.) Tax % • 0 – 2,40,000 0% • 2,40,001 – 5,00,000 10% • 5,00,001 – 8,00,000 20% • 8,00,000 and above 30% • • Resident Women below 60 years (Female Individuals) • • Taxable Income Slab (Rs.) Tax % • 0 – 1,90,000 0% • 1,90,001 – 5,00,000 10% • 5,00,001 – 8,00,000 20% • 8,00,000 and above 30% • Contd….
  27. 27. Income Tax Rates for Assessment Year 2011-12 • All Others (Male Individuals, NRIs etc.,) • • Taxable Income Slab (Rs.) Tax % • 0 – 1,60,000 0% • 1,60,001 – 5,00,000 10% • 5,00,001 – 8,00,000 20% • 8,00,000 and above 30% • Surcharge: No Surcharge • Education Cess @ 2% and Secondary & Higher Education Cess @ 1% on Tax Payable
  28. 28. Income Tax Rates for Assessment Year 2012-13 • Resident Senior Citizens above 80 years (Super Senior Citizens) • • Taxable Income Slab (Rs.) Tax % • 0 – 5,00,000 0% • 5,00,001 – 8,00,000 20% • 8,00,000 and above 30% • • Resident Senior Citizens above 60 years (Senior Citizens) • • Taxable Income Slab (Rs.) Tax % • 0 – 2,50,000 0% • 2,50,001 – 5,00,000 10% • 5,00,001 – 8,00,000 20% • 8,00,000 and above 30% • Contd…..
  29. 29. Income Tax Rates for Assessment Year 2012-13 • Resident Women below 60 years (Female Individuals) • Taxable Income Slab (Rs.) Tax % • 0 – 1,90,000 0% • 1,90,001 – 5,00,000 10% • 5,00,001 – 8,00,000 20% • 8,00,000 and above 30% • All Others (Male Individuals, NRIs etc.,) • Taxable Income Slab (Rs.) Tax % • 0 – 1,80,000 0% • 1,80,001 – 5,00,000 10% • 5,00,001 – 8,00,000 20% • 8,00,000 and above 30% • Surcharge: No Surcharge • Education Cess @ 2% and Secondary & Higher Education Cess @ 1% on Tax Payable
  30. 30. Income Tax Rates for Assessment Year 2013-14 • Resident Senior Citizens above 80 years (Super Senior Citizens) • Taxable Income Slab (Rs.) Tax % • 0 – 5,00,000 0% • 5,00,001 – 10,00,000 20% • 10,00,000 and above 30% • Resident Senior Citizens above 60 years (Senior Citizens) • Taxable Income Slab (Rs.) Tax % • 0 – 2,50,000 0% • 2,50,001 – 5,00,000 10% • 5,00,001 – 10,00,000 20% • 10,00,000 and above 30% • Contd….
  31. 31. Income Tax Rates for Assessment Year 2013-14 • Resident Women below 60 years (Female Individuals) • Taxable Income Slab (Rs.) Tax % • 0 – 2,00,000 0% • 2,00,001 – 5,00,000 10% • 5,00,001 – 10,00,000 20% • 10,00,000 and above 30% • All Others (Male Individuals, NRIs etc.,) • Taxable Income Slab (Rs.) Tax % • 0 – 2,00,000 0% • 2,00,001 – 5,00,000 10% • 5,00,001 – 10,00,000 20% • 10,00,000 and above 30% • Surcharge: No Surcharge • Education Cess @ 2% and Secondary & Higher Education Cess @ 1% on Tax Payable
  32. 32. Income Tax Rates for Assessment Year 2014-15 • Resident Senior Citizens above 80 years (Super Senior Citizens) • Taxable Income Slab (Rs.) Tax % • 0 – 5,00,000 0% • 5,00,001 – 10,00,000 20% • 10,00,000 and above 30% • Resident Senior Citizens above 60 years (Senior Citizens) • Taxable Income Slab (Rs.) Tax % • 0 – 2,50,000 0% • 2,50,001 – 5,00,000 10% • 5,00,001 – 10,00,000 20% • 10,00,000 and above 30% • Contd….
  33. 33. Income Tax Rates for Assessment Year 2014-15 • Resident Women below 60 years (Female Individuals) • Taxable Income Slab (Rs.) Tax % • 0 – 2,00,000 0% • 2,00,001 – 5,00,000 10% • 5,00,001 – 10,00,000 20% • 10,00,000 and above 30% • All Others (Male Individuals, NRIs etc.,) • Taxable Income Slab (Rs.) Tax % • 0 – 2,00,000 0% • 2,00,001 – 5,00,000 10% • 5,00,001 – 10,00,000 20% • 10,00,000 and above 30% • Surcharge @ 10% on Income Tax, if Taxable Income exceeds Rs. 1,00,00,000 • Education Cess @ 2% and Secondary & Higher Education Cess @ 1% on Tax Payable • Tax Credit of Rs. 2,000 to every person whose total income is upto Rs. 5,00,000 - THANKS -

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