NRI's CORNER
F.E.M.A.
TAX RATES TABLE

NRIs CORNER - TAX  RATES TABLE AS REGARDS TO TAXABLE INCOME FOR

FINANCIAL YEAR 2018-19 AND 2017-18
 

FOR THE FINANCIAL YEAR 2018-19

1.      For Individual / HUF

 

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 Resident Senior Citizen i.e. who is of an age of 60 years and above, but below 80 years

 

TOTAL INCOME (INR)

RATE OF INCOME TAX

i)

0 < 3,00,000

NIL

ii)

3,00,001 < 5,00,000

5.2% (5%+4%)of the amount by which the total income exceeds Rs.3,00,000

iii)

5,00,001 < 10,00,000

Rs.10,400 + 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.1,14,400 + 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.13,62,400 + 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.31,56,400 + 35.88% (30%+15%+4%) of amount by which the total income exceeds Rs.1,00,00,000

 
3.      For Resident Very Senior Citizen i.e. who is of an age of 80 years and above.

 

TOTAL INCOME (INR)

RATE OF INCOME TAX

i)

0 < 5,00,000

NIL

ii)

5,00,001 < 10,00,000

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

iii)

Total income more than 10,00,000

Rs.1,04,000 + 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.13,52,000 + 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.30,68,000 + 35.88% (30%+15%+4%) of amount by which the total income exceeds Rs.1,00,00,000

 

FOR FINANCIAL YEAR 2017-18
1.      For Individual / HUF

 

TOTAL INCOME (INR)

RATE OF INCOME TAX

i)

0 < 2,50,000

NIL

ii)

2,50,001 < 5,00,000

5.15 % (5%+3%) of the amount by which the total income exceeds Rs.2,50,000

iii)

5,00,001 < 10,00,000 Rs.12,875 + 20.6% (20%+3%) of amount by which the total income exceeds Rs.5,00,000

iv)

Total income more than 10,00,000

Rs.1,15,875 + 30.9% (30%+3%) of amount by which the total income exceeds Rs.10,00,000 

v)

Total income more than 50,00,000

Rs.13,51,875 + 33.99% (30%+10%+3%) of amount by which the total income exceeds Rs.50,00,000

vi)

Total income more than 1,00,00,000

Rs.30,51,375 + 35.535% (30%+15%+3%) of amount by which the total income exceeds Rs.1,00,00,000

   2.      For Resident Senior Citizen i.e. who is of an age of 60 years and above, but below 80 years.

 

TOTAL INCOME (INR)

RATE OF INCOME TAX

i)

0 < 3,00,000

NIL

ii)

3,00,001 < 5,00,000

5.15% (5%+3%) of the amount by which the total income exceeds Rs.3,00,000

iii)

5,00,001 < 10,00,000

Rs.10,300 + 20.6% (20%+3%) of amount by which the total income exceeds Rs.5,00,000

iv)

Total income more than 10,00,000

Rs.1,13,300 + 30.9% (30%+3%) of amount by which the total income exceeds Rs.10,00,000

v)

Total income more than 50,00,000

Rs.13,49,300 + 33.99% (30%+10%+3%) of amount by which the total income exceeds Rs.50,00,000 

vi)

Total income more than 1,00,00,000

Rs.30,48,800 + 35.535% (30%+15%+3%) of amount by which the total income exceeds Rs.1,00,00,000

 3.      For Resident Very Senior Citizen i.e. who is of an age of 80 years and above.

 

TOTAL INCOME (INR)

RATE OF INCOME TAX

i)

0 < 5,00,000

NIL

ii)

5,00,001 < 10,00,000

20.6% (20%+3%) of amount by which the total income exceeds Rs.5,00,000

iii)

Total income more than 10,00,000

Rs.1,03,000 + 30.9% (30%+3%) of amount by which the total income exceeds Rs.10,00,000

iv)

Total income more than 50,00,000

Rs.13,39,000 + 33.99% (30%+10%+3%) of amount by which the total income exceeds Rs.50,00,000 

v)

Total income more than 1,00,00,000

Rs.30,38,500 + 35.535% (30%+15%+3%) of amount by which the total income exceeds Rs.1,00,00,000

Special Rates for Income Tax: - (For Financial Year 2018-19 and 2017-18)

4.   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 fund

15%

ii)

Other Short Term Capital Gain

As above 1

iii)

Benefit of Threshold Exemption Limit is not available to NRI

 

 5.   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 fund

Exempt

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

 
alttag