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

NRIs CORNER - TAX  RATES TABLE AS REGARDS TAXABLE INCOME FOR THE FINANCIAL YR 2017-18 FOR THE FINANCIAL YR 2016-17

FOR THE 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% of the amount by which the total income exceeds Rs.2,50,000

iii)

5,00,001 < 10,00,000

Rs.12,500 + 20% of amount by which the total income exceeds Rs.5,00,000

iv)

Total income more than 10,00,000

Rs.1,12,500 + 30% of amount by which the total income exceeds Rs.10,00,000 

    

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% of the amount by which the total income exceeds Rs.3,00,000

iii)

5,00,001 < 10,00,000

Rs.10,000 + 20% of amount by which the total income exceeds Rs.5,00,000

iv)

Total income more than 10,00,000

Rs.1,10,000 + 30% of amount by which the total income exceeds Rs.10,00,000

 
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% of amount by which the total income exceeds Rs.5,00,000

iii)

Total income more than 10,00,000

Rs.1,00,000 + 30% of amount by which the total income exceeds Rs.10,00,000


Note:  When the Aggregate income exceeds Rs 50 Lacs but not Rs. 1Crore, Tax Amount shall be increased by Surcharge at the rate of 10%. However , When the Aggregate income exceeds Rs 1 Crore, Tax Amount shall be increased by Surcharge at the rate of 15%.

FOR THE FINANCIAL YEAR 2016-17

1.      For Individual / HUF
 

TOTAL INCOME (INR)

RATE OF INCOME TAX

i)

0 < 2,00,000

NIL

ii)

2,00,001 < 5,00,000

10% of the amount by which the total income exceeds Rs.2,00,000

iii)

5,00,001 < 10,00,000

Rs.30,000 + 20% of amount by which the total income exceeds Rs.5,00,000

iv)

Total income more than 10,00,000

Rs.1,30,000 + 30% of amount by which the total income exceeds Rs.10,00,000 

   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 < 2,50,000

NIL

ii)

2,50,001 < 5,00,000

10% of the amount by which the total income exceeds Rs.2,50,000

iii)

5,00,001 < 10,00,000

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

iv)

Total income more than 10,00,000

Rs.1,20,000 + 30% of amount by which the total income exceeds Rs.10,00,000

 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% of amount by which the total income exceeds Rs.5,00,000

iii)

Total income more than 10,00,000

Rs.1,00,000 + 30% of amount by which the total income exceeds Rs.10,00,000


Note:  When the Aggregate income exceeds Rs 1 Crore, Tax Amount shall be increased by Surcharge at the rate of 15%.

Special Rates For Income Tax:- (For the Financial Year 2017-18 & 2016-17)

4.   Short Term Capital Gain

 

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

Normal rate of Tax of 0% to 30%

iii)

Benefit of Threshold Exemption Limit is not available to NRI

 5.   Long Term Capital Gain

 

INCOME (INR)

RATE OF INCOME TAX %

i)

Long Term Capital Gain from equity share orunit of an equity oriented fund

Exempt

ii)

Long Term Capital Gain from listed securities

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)

10%

v)

Long Term Capital Gain other than the above

20%

vi)

Benefit of Threshold Exemption Limit is not available to NRI


 

 

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