created by Rajesh Dhruva

TAX RATES TABLE

NRIs CORNER - TAX  RATES TABLE AS REGARDS TO TAXABLE INCOME

FOR THE FINANCIAL YEAR 2022-23

1.      For Individual / HUF (Existing Scheme)- Non-Resident Tax Payer

 

TOTAL INCOME (INR)

RATE OF INCOME TAX

i)

0 < 2,50,000

NIL

ii)

2,50,001 < 5,00,000

5.2% (5%+4%) of the amount by which the total income exceeds Rs.2,50,000

iii)

5,00,001 < 10,00,000

Rs.13,000 + 20.8% (20%+4%) of amount by which the total income exceeds Rs.5,00,000

iv)

Total income more than 10,00,000

Rs.1,17,000 + 31.2% (30%+4%) of amount by which the total income exceeds Rs.10,00,000 

v)

Total income more than 50,00,000

Rs.13,65,000 + 34.32% (30%+10%+4%) of amount by which the total income exceeds Rs.50,00,000 

vi)

Total income more than 1,00,00,000

Rs.31,59,000 + 35.88 % (30%+15%+4%) of amount by which the total income exceeds Rs.1,00,00,000

2.      For Individual / HUF( New Scheme)- Non-Resident Tax Payer

  TOTAL INCOME (INR) RATE OF INCOME TAX
i) 0 < 2,50,000 NIL
ii) 2,50,001 <5,00,000 5.2% (5%+4%) of the amount by which the total income exceeds Rs.2,50,000
iii) 5,00,001 < 7,50,000 Rs.13,000 + 10.4% (10%+4%) of amount by which the total income exceeds Rs.5,00,000
iv) 7,50,001 < 10,00,000 Rs.39,000 + 15.6% (15%+4%) of amount by which the total income exceeds Rs.7,50,000
v) 10,00,001 < 12,50,000 Rs.78,000 + 20.8% (20%+4%) of amount by which the total income exceeds Rs.10,00,000
vi) 12,50,001 < 15,00,000 Rs.1,30,000 + 26.00% (25%+4%) of amount by which the total income exceeds Rs.12,50,000
vii) Total income more than 15,00,000 Rs.1,95,000 + 31.2% (30%+4%) of amount by which the total income exceeds Rs.15,00,000 
viii) Total income more than 50,00,000 Rs.12,87,000 + 34.32% (30%+10%+4%) of amount by which the total income exceeds Rs.50,00,000 
ix) Total income more than 1,00,00,000 Rs.30,03,000 + 35.88 % (30%+15%+4%) of amount by which the total income exceeds Rs.1,00,00,000
x) Total income more than 2,00,00,000 Rs.65,91,000 + 39.00 % (30%+25%+4%) of amount by which the total income exceeds Rs.2,00,00,000
xi) Total income more than 5,00,00,000 Rs.1,82,91,000 + 42.744 % (30%+37%+4%) of amount by which the total income exceeds Rs.5,00,00,000

   

Special Rates for Income Tax: - (For Financial Year  2022-23)

3.   Short Term Capital Gain

 

TOTAL INCOME (INR)

RATE OF INCOME TAX

i)

Short Term Capital Gain of Equity Shares or unit of an equity oriented mutual fund

15%
(Benefit of threshold exemption limit is not available to NRI)

ii)

Other Short Term Capital Gain

As per normal slab rate

 4.   Long Term Capital Gain

 

TOTAL INCOME (INR)

RATE OF INCOME TAX

i)

Long Term Capital Gain from equity share or
unit of an equity oriented mutual fund

Exempt upto Rs. 1 Lakh. Thereafter Tax @ 10%.

ii)

Long Term Capital Gain from listed securities,units and zero coupon bonds

Tax @ 20% after indexation.

iii)

Long Term Capital Gain from unlisted securities
[In case of a Non-Resident (not being a Company) or a Foreign Company]

10%

iv)

Long term Capital Gains on Specified Assets  (In case of NRI
Shares of Indian Companies (both Public and Private)
Debentures of an Indian Public Company
Deposits of an Indian Public Compan
Government of India Securities.

10%

v)

Long Term Capital Gain other than the above

20% subject to Indexation.

vi)

Benefit of Threshold Exemption Limit is not available to NRI