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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