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Article provides Comparative Tax Rates post Taxation Amendment Ordinance 2019 of Domestic Companies whose turnover in 2017-18 does not exceed 400 crores, Domestic Manufacturing Company registered on or after 01-03-2016, Any Domestic Company (incl. Mfg, Trading , Service) from AY 2020-21, Domestic Manufacturing Company registered on or after 01-10-2019 and commencing manufacture on or before 31-03-2023, Individual/HUF/AOP/BOI/AJP and Partnership Firm (including LLP).
| Domestic Companies whose turnover in 2017-18 does not exceed 400 crores | Domestic Manufac-turing Company registered on or after 01-03-2016 | Any Domestic Company (incl. Mfg, Trading , Service) from AY 2020-21 | Domestic Manufac-turing Company registered on or after 01-10-2019 and commencing manufacture on or before 31-03-2023 | Individual/ HUF/AOP/BOI/AJP | Partner-ship Firm including LLP | |
| Income Up to 2.5 lacs | 26 | 26 | 25.168 | 17.16 | 0 | 31.2 |
| 2.5 lacs to 5 lacs | 26 | 26 | 25.168 | 17.16 | 5.2 | 31.2 |
| 5 lacs to 10 lacs | 26 | 26 | 25.168 | 17.16 | 20.8 | 31.2 |
| Income up to 50 lacs | 26 | 26 | 25.168 | 17.16 | 31.2 | 31.2 |
| 50 lacs to 1 crore | 26 | 26 | 25.168 | 17.16 | 34.32 | 31.2 |
| 1 crore to 2 crore | 27.82 | 27.82 | 25.168 | 17.16 | 35.88 | 34.944 |
| 2 crore to 5 crore | 27.82 | 27.82 | 25.168 | 17.16 | 39 | 34.944 |
| 5 crore to 10 crore | 27.82 | 27.82 | 25.168 | 17.16 | 42.744 | 34.944 |
| Above 10 crore | 29.12 | 29.12 | 25.168 | 17.16 | 42.744 | 34.944 |
| Tax Rate | S. 2(9) of FA(No.2) 2019 read with Para E of Part III of First Schedule | S.115BA | S.115BAA | S.115BAB | S. 2(9) of FA(No.2) 2019 read with Para A of Part III of First Schedule | S. 2(9) of FA(No.2) 2019 read with Para C of Part III of First Schedule |
| Surcharge | S. 2(9) of FA(No.2) 2019 read with Para E of Part III of First Schedule | S. 2(9) of FA(No.2) 2019 read with Para E of Part III of First Schedule | S. 2(9) of FA(No.2) 2019 read with Para E of Part III of First Schedule | S. 2(9) of FA(No.2) 2019 read with Para E of Part III of First Schedule | S. 2(9) of FA(No.2) 2019read with Para A of Part III of First Schedule | S. 2(9) of FA (No.2) 2019 read with Para C of Part III of First Schedule |
| Health Cess | S.2(11) of the FA (No.2) 2019 | S.2(11) of the FA (No.2) 2019 | S.2(11) of the FA (No.2) 2019 | S.2(11) of the FA (No.2) 2019 | S.2(11) of the FA (No.2) 2019 | S.2(11) of the FA (No.2) 2019 |
| MAT/ AMT | 15% (Tax rate) | 15% (Tax rate) | Not Applicable | Not Applicable | 18.5% (Tax rate) | 18.5% (Tax rate) |
Break up of Tax Rates
Domestic Companies whose turnover in 2017-18 does not exceed 400 crores
| Income Slab | Tax Rate | Surchrage | Cess | Effective Tax Rate |
| Up to 2.5 lacs | 25 | 0 | 1 | 26 |
| 2.5 lacs to 5 lacs | 25 | 0 | 1 | 26 |
| 5 lacs to 10 lacs | 25 | 0 | 1 | 26 |
| Income up to 50 lacs | 25 | 0 | 1 | 26 |
| 50 lacs to 1 Crore | 25 | 0 | 1 | 26 |
| 1 crore to 2 crore | 25 | 1.75 | 1.07 | 27.82 |
| 2 crore to 5 crore | 25 | 1.75 | 1.07 | 27.82 |
| 5 crore to 10 crore | 25 | 1.75 | 1.07 | 27.82 |
| Above 10 crore | 25 | 3 | 1.12 | 29.12 |
Domestic Manufacturing Company registered on or after 01-03-2016
| Income Slab | Tax Rate | Surchrage | Cess | Effective Tax Rate |
| Up to 2.5 lacs | 25 | 0 | 1 | 26 |
| 2.5 lacs to 5 lacs | 25 | 0 | 1 | 26 |
| 5 lacs to 10 lacs | 25 | 0 | 1 | 26 |
| Income up to 50 lacs | 25 | 0 | 1 | 26 |
| 50 lacs to 1 Crore | 25 | 0 | 1 | 26 |
| 1 crore to 2 crore | 25 | 1.75 | 1.07 | 27.82 |
| 2 crore to 5 crore | 25 | 1.75 | 1.07 | 27.82 |
| 5 crore to 10 crore | 25 | 1.75 | 1.07 | 27.82 |
| Above 10 crore | 25 | 3 | 1.12 | 29.12 |
Any Domestic Company (incl. Mfg, Trading, Service) from AY 2020-21
| Income Slab | Tax Rate | Surchrage | Cess | Effective Tax Rate |
| Up to 2.5 lacs | 22 | 2.2 | 0.968 | 25.168 |
| 2.5 lacs to 5 lacs | 22 | 2.2 | 0.968 | 25.168 |
| 5 lacs to 10 lacs | 22 | 2.2 | 0.968 | 25.168 |
| Income up to 50 lacs | 22 | 2.2 | 0.968 | 25.168 |
| 50 lacs to 1 Crore | 22 | 2.2 | 0.968 | 25.168 |
| 1 crore to 2 crore | 22 | 2.2 | 0.968 | 25.168 |
| 2 crore to 5 crore | 22 | 2.2 | 0.968 | 25.168 |
| 5 crore to 10 crore | 22 | 2.2 | 0.968 | 25.168 |
| Above 10 crore | 22 | 2.2 | 0.968 | 25.168 |
Domestic Manufacturing Company registered on or after 01-10-2019 and commencing manufacture on or before 31-03-2023
| Income Slab | Tax Rate | Surchrage | Cess | Effective Tax Rate |
| Up to 2.5 lacs | 15 | 1.5 | 0.66 | 17.16 |
| 2.5 lacs to 5 lacs | 15 | 1.5 | 0.66 | 17.16 |
| 5 lacs to 10 lacs | 15 | 1.5 | 0.66 | 17.16 |
| Income up to 50 lacs | 15 | 1.5 | 0.66 | 17.16 |
| 50 lacs to 1 Crore | 15 | 1.5 | 0.66 | 17.16 |
| 1 crore to 2 crore | 15 | 1.5 | 0.66 | 17.16 |
| 2 crore to 5 crore | 15 | 1.5 | 0.66 | 17.16 |
| 5 crore to 10 crore | 15 | 1.5 | 0.66 | 17.16 |
| Above 10 crore | 15 | 1.5 | 0.66 | 17.16 |
Individual/HUF/AOP/BOI/AJP
| Income other than Capital Gain on Sale of Shares | Capital Gain on Sale of Shares or units of Equity oriented Fund (subject to STT) | |||||
| Income Slab | Tax Rate | Surcharge | Cess | Effective Tax Rate | Short Term Capital Gain | Long Term Capital gain |
| Up to 2.5 lacs | 0 | 0 | 0 | 0 | 0 | 0 |
| 2.5 lacs to 5 lacs | 5 | 0 | 0.2 | 5.2 | 15.6 | 10.4 |
| 5 lacs to 10 lacs | 20 | 0 | 0.8 | 20.8 | 15.6 | 10.4 |
| Income up to 50 lacs | 30 | 0 | 1.2 | 31.2 | 15.6 | 10.4 |
| 50 lacs to 1 Crore | 30 | 3 | 1.32 | 34.32 | 17.16 | 11.44 |
| 1 crore to 2 crore | 30 | 4.5 | 1.38 | 35.88 | 17.94 | 11.96 |
| 2 crore to 5 crore | 30 | 7.5 | 1.5 | 39 | 17.94 | 11.96 |
| 5 crore to 10 crore | 30 | 11.1 | 1.644 | 42.744 | 17.94 | 11.96 |
| Above 10 crore | 30 | 11.1 | 1.644 | 42.744 | 17.94 | 11.96 |
Note-
Enhanced surcharge on income from 2 crore to 5 crore @ 25% and from 25% crore and above 5 crore @ 37% as applicable to Individual / HUF / AOP / BOI / AJP has been restored back to 15% vide section 8 of the Taxation Amendment Ordinance 2019.
Partnership Firm (including LLP)
| Income Slab | Tax Rate | Surchrage | Cess | Effective Tax Rate |
| Up to 2.5 lacs | 30 | 1.2 | 31.2 | |
| 2.5 lacs to 5 lacs | 30 | 1.2 | 31.2 | |
| 5 lacs to 10 lacs | 30 | 1.2 | 31.2 | |
| Income up to 50 lacs | 30 | 1.2 | 31.2 | |
| 50 lacs to 1 Crore | 30 | 1.2 | 31.2 | |
| 1 crore to 2 crore | 30 | 3.6 | 1.344 | 34.944 |
| 2 crore to 5 crore | 30 | 3.6 | 1.344 | 34.944 |
| 5 crore to 10 crore | 30 | 3.6 | 1.344 | 34.944 |
| Above 10 crore | 30 | 3.6 | 1.344 | 34.944 |
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