 |
Income Tax Rates |
|
|
|
| Assessment Year |
Tax Rate |
Woman |
Senior Citizen (60 to 80) |
Other |
Senior Citizen Above 80 |
| 2010-11 |
- |
Upto 1,90,000 |
Nil |
Upto 2,40,000 |
Nil |
Upto 1,60,000 |
Nil |
Upto 2,40,000 |
Nil |
| 10% |
1,90,001 – 3,00,000 |
19,000 |
2,40,001 – 3,00,000 |
24,000 |
1,60,001 – 3,00,000 |
16,000 |
2,40,001 – 3,00,000 |
24,000 |
| 20% |
3,00,001 – 5,00,000 |
49,000 |
3,00,001 – 5,00,000 |
54,000 |
3,00,001 – 5,00,000 |
46,000 |
3,00,001 – 5,00,000 |
54,000 |
| 30% |
Above 5,00,000 |
99,000 |
Above 5,00,000 |
1,04,000 |
Above 5,00,000 |
96,000 |
Above 5,00,000 |
1,04,000 |
| 2011-2012 |
- |
Upto 1,90,000 |
Nil |
Upto 2,40,000 |
Nil |
Upto 1,60,000 |
Nil |
Upto 2,40,000 |
Nil |
| 10% |
1,90,001 – 5,00,000 |
19,000 |
2,40,001 – 5,00,000 |
24,000 |
1,60,001 – 5,00,000 |
16,000 |
2,40,001 – 5,00,000 |
24,000 |
| 20% |
5,00,001 – 8,00,000 |
69,000 |
5,00,001 – 8,00,000 |
74,000 |
5,00,001 – 8,00,000 |
66,000 |
5,00,001 – 8,00,000 |
74,000 |
| 30% |
Above 8,00,000 |
1,49,000 |
Above 8,00,000 |
1,54,000 |
Above 8,00,000 |
1,46,000 |
Above 8,00,000 |
1,54,000 |
| 2012-2013 |
- |
Upto 1,90,000 |
Nil |
Upto 2,40,000 |
Nil |
Upto 1,80,000 |
Nil |
Upto 5,00,000 |
Nil |
| 10% |
1,90,001 – 5,00,000 |
19,000 |
2,40,001 – 5,00,000 |
24,000 |
1,80,001 – 5,00,000 |
18,000 |
-- |
-- |
| 20% |
5,00,001 – 8,00,000 |
69,000 |
5,00,001 – 8,00,000 |
74,000 |
5,00,001 – 8,00,000 |
68,000 |
5,00,001 – 8,00,000 |
100000 |
| 30% |
Above 8,00,000 |
1,49,000 |
Above 8,00,000 |
1,54,000 |
Above 8,00,000 |
1,48,000 |
Above 8,00,000 |
180000 |
|
|
| TDS / TCS Rate Chart |
| |
| Section - Description |
Threshold old |
Upto 30-09-09 |
01-10-09 to 31-03-10 |
F.Y. 10-11 onwards |
| Co. / PF |
Indl / HUF |
Co. / PF |
Indl / HUF |
Threshold |
Co. / PF |
Indl / HUF |
| 194A – Interest (other than Intt on Secu.) |
5000 |
10.30% |
10.30% |
10% |
10% |
5000 |
10% |
10% |
| 194C – Contractors |
20000 |
2.06% |
2.06% |
2% |
1% |
30000 |
2% |
1% |
| 194C – Sub-Contractors & Advt Contract |
20000 |
1.03% |
1.03% |
2% |
1% |
30000 |
2% |
1% |
| 194C – Transporter (PAN Available) |
20000 |
2.06% |
2.06% |
Nil |
Nil |
-- |
Nil |
Nil |
| 194 H - Commission |
2500 |
10.30% |
10.30% |
10% |
10% |
5000 |
10% |
10% |
| 194 I – Rent (P&M) |
120000 |
10.30% |
10.30% |
2% |
2% |
180000 |
2% |
2% |
| 194 I – Rent (Other) |
120000 |
20.60% |
15.45% |
10% |
10% |
180000 |
10% |
10% |
| 194 J – Professional Fees |
20000 |
10.30% |
10.30% |
10% |
10% |
30000 |
10% |
10% |
| 206C - Scrap |
-- |
1.03% |
1.03% |
1% |
1% |
-- |
1% |
1% |
|
| |
| E TDS & TCS Return |
|
Interest / Penalty for Late TDS |
|
|
|
| Qtr |
Due Date of Return |
Due Date of Certificate |
Payment Date |
| Q1 |
15 July |
31 July |
Upto Feb –
Before 7 of next month
For March –
30th April |
| Q2 |
15 Oct |
31 Oct |
| Q3 |
15 Jan |
31 Jan |
| Q4 |
15 May |
31 May |
|
|
| Particulars |
% |
| Late Payment - Up-to June 2010 |
1% |
Late Payment - From 01-07-2010
(Inclusive of month of Deduction) |
1.5% |
| TDS – Return Late filing Penalty |
100 per Day |
|
|
|
| |
| Carry Forward & Set off of Losses |
|
| Head of Loss |
Set off during the year |
Carry Forward & Set Off |
| |
Same Head |
Another Head |
Against Profits from |
C/fd |
Years |
Against Profits from |
| House Property |
Yes |
Yes |
-- |
Yes |
8 Years |
Same Head |
| Speculation Business |
Yes |
No |
From speculation profits |
Yes |
4 Years |
Same / another speculation business |
| Unabsorbed Depreciation |
Yes |
Yes |
Any Income |
Yes |
No Limit |
Any income (other than salary) |
| Non speculative Business or Profession |
Yes |
Yes (other than salary) |
Any Business Profits |
Yes |
8 Years |
Same Head |
| Long Term Capital Losses |
Yes |
No |
LTCG |
Yes |
8 Years |
LTCG |
| Short Term Capital Losses |
Yes |
No |
STCG / LTCG |
Yes |
8 Years |
STCG / LTCG |
| Income from other sources |
Yes |
Yes |
NA |
No |
NA |
NA |
| Specified Business u/s 35AD |
Yes |
No |
Specified Business Profits |
Yes |
No Limit |
Any Specified Business Profits |
|
|
| Depreciation Chart |
|
| Particulars |
Income Tax |
Companies Act |
| % WDV |
% WDV |
% SLM |
| AY 06-07 onward |
Single Shift |
Single Shift |
| Tangible Assets |
|
|
|
| Computer Hardware & Software |
60% |
40% |
16.21% |
| Plant & Machinery |
15% |
13.91% |
4.75% |
| Furniture & Fixtures |
10% |
18.10% |
6.33% |
| Cars & Vehicles |
15% |
25.89% |
9.50% |
| Building – Non Residential |
10% |
10% |
3.34% |
| Building - Residential |
5% |
5% |
1.63% |
Books owned by Professionals
- Annual Publications
- Other than above
|
100%
60% |
--
-- |
--
-- |
| Books owned by assesse for lending library |
100% |
-- |
-- |
| Intangible Assets |
|
|
|
| Know How, Patent, Copyright, trademark |
25% |
-- |
-- |
|
|
