tax rate

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Renuka Bhale

Renuka Bhale (Querist)
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04 June 2010 tax rate for individual how is a non recedent .

kantijain

kantijain (Expert)
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04 June 2010 Dear renuka:

I assume that u want to know Tax rate for an individual who is a non-resident. the rates are as follow:

Taxable income & tax rate:
1) Upto 160000: Nil
2) Rs.160001 to Rs. 500000: tax rate is 10% of the amount exceeding Rs. 160000;
3) Rs. 500001 to Rs.800000: Rs.34000 + tax rate of 20% of amt exceeding Rs.500000;
4) Above Rs.800001: Rs. 94000 + tax rate of 30% of the amt exceeding Rs.800000

Edu cess at 2% & secondary higher edu cess at 1% to be calculated on tax.