NRIs CORNER - TAX RATES TABLE AS REGARDS TAXABLE INCOME
FOR FOR FINANCIAL YEAR 2018-19 AND 2017-18
FOR THE FINANCIAL YEAR 2018-19
1. For Individual / HUF
|
|
TOTAL INCOME (INR) |
RATE OF INCOME TAX |
|
i) |
0 < 2,50,000 |
NIL |
|
ii) |
2,50,001 < 5,00,000 |
5.2% (5%+4%) of the amount by which the total income exceeds Rs.2,50,000 |
|
iii) |
5,00,001 < 10,00,000 |
Rs.13,000 + 20.8% (20%+4%) of amount by which the total income exceeds Rs.5,00,000 |
|
iv) |
Total income more than 10,00,000 |
Rs.1,17,000 + 31.2% (30%+4%) of amount by which the total income exceeds Rs.10,00,000 |
|
v) |
Total income more than 50,00,000 |
Rs.13,65,000 + 34.32% (30%+10%+4%) of amount by which the total income exceeds Rs.50,00,000 |
|
vi) |
Total income more than 1,00,00,000 |
Rs.31,59,000 + 35.88 % (30%+15%+4%) of amount by which the total income exceeds Rs.1,00,00,000 |
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 |
5.2% (5%+4%)of the amount by which the total income exceeds Rs.3,00,000 |
|
iii) |
5,00,001 < 10,00,000 |
Rs.10,400 + 20.8% (20%+4%)of amount by which the total income exceeds Rs.5,00,000 |
|
iv) |
Total income more than 10,00,000 |
Rs.1,14,400 + 31.2% (30%+4%) of amount by which the total income exceeds Rs.10,00,000 |
|
v) |
Total income more than 50,00,000 |
Rs.13,62,400 + 34.32% (30%+10%+4%) of amount by which the total income exceeds Rs.50,00,000 |
|
vi) |
Total income more than 1,00,00,000 |
Rs.31,56,400 + 35.88% (30%+15%+4%) of amount by which the total income exceeds Rs.1,00,00,000 |
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 |
20.8% (20%+4%) of amount by which the total income exceeds Rs.5,00,000 |
|
iii) |
Total income more than 10,00,000 |
Rs.1,04,000 + 31.2% (30%+4%) of amount by which the total income exceeds Rs.10,00,000 |
|
iv) |
Total income more than 50,00,000 |
Rs.13,52,000 + 34.32% (30%+10%+4%) of amount by which the total income exceeds Rs.50,00,000 |
|
v) |
Total income more than 1,00,00,000 |
Rs.30,68,000 + 35.88% (30%+15%+4%) of amount by which the total income exceeds Rs.1,00,00,000 |
FOR 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 |
5.15 % (5%+3%) of the amount by which the total income exceeds Rs.2,50,000 |
|
iii) |
5,00,001 < 10,00,000 |
Rs.12,875 + 20.6% (20%+3%) of amount by which the total income exceeds Rs.5,00,000 |
|
iv) |
Total income more than 10,00,000 |
Rs.1,15,875 + 30.9% (30%+3%) of amount by which the total income exceeds Rs.10,00,000 |
|
v) |
Total income more than 50,00,000 |
Rs.13,51,875 + 33.99% (30%+10%+3%) of amount by which the total income exceeds Rs.50,00,000 |
|
vi) |
Total income more than 1,00,00,000 |
Rs.30,51,375 + 35.535% (30%+15%+3%) of amount by which the total income exceeds Rs.1,00,00,000 |
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 |
5.15% (5%+3%) of the amount by which the total income exceeds Rs.3,00,000 |
|
iii) |
5,00,001 < 10,00,000 |
Rs.10,300 + 20.6% (20%+3%) of amount by which the total income exceeds Rs.5,00,000 |
|
iv) |
Total income more than 10,00,000 |
Rs.1,13,300 + 30.9% (30%+3%) of amount by which the total income exceeds Rs.10,00,000 |
|
v) |
Total income more than 50,00,000 |
Rs.13,49,300 + 33.99% (30%+10%+3%) of amount by which the total income exceeds Rs.50,00,000 |
|
vi) |
Total income more than 1,00,00,000 |
Rs.30,48,800 + 35.535% (30%+15%+3%) of amount by which the total income exceeds Rs.1,00,00,000 |
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 |
20.6% (20%+3%) of amount by which the total income exceeds Rs.5,00,000 |
|
iii) |
Total income more than 10,00,000 |
Rs.1,03,000 + 30.9% (30%+3%) of amount by which the total income exceeds Rs.10,00,000 |
|
iv) |
Total income more than 50,00,000 |
Rs.13,39,000 + 33.99% (30%+10%+3%) of amount by which the total income exceeds Rs.50,00,000 |
|
v) |
Total income more than 1,00,00,000 |
Rs.30,38,500 + 35.535% (30%+15%+3%) of amount by which the total income exceeds Rs.1,00,00,000 |
Special Rates for Income Tax: - (For Financial Year 2018-19 and 2017-18)
4. Short Term Capital Gain
|
|
TOTAL 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 |
As above 1 |
|
iii) |
Benefit of Threshold Exemption Limit is not available to NRI |
|
|
|
INCOME (INR) |
RATE OF INCOME TAX % |
|
i) |
Long Term Capital Gain from equity share or unit 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) · Shares of Indian Companies (both Public and Private) · Debentures of an Indian Public Company · Deposits of an Indian Public Company Government of India Securities |
10% |
|
v) |
Long Term Capital Gain other than the above |
20% subject to Indexation. |
|
vi) |
Benefit of Threshold Exemption Limit is not available to NRI |
|
|
TDS RATE CHART FOR FINANCIAL YEAR 2018-19 AND 2017-18 FOR RETURNING NRIs |
||||
|
Sr. No. |
Nature of Payments |
Threshold Limit (in Rs.) |
Rate in % |
|
|
1 |
Interest From Bank |
10000 |
10 |
|
|
2 |
Other Interest – eg. On company Deposits, Post Office accounts, etc. |
5000 |
10 |
|
|
3 |
Commission/Brokerage |
15000 |
5 |
|
|
4 |
Property Rent |
50,000 per month (w.e.f.01/06/2017) |
5 |
|
|
5 |
Professional Fees |
30000 |
10 |
|
|
6 |
Salary |
As above 1 |
TDS @ Applicable slab Rate |
|
|
Note – 1 |
Surcharge and Education Cess is not applicable on TDS on any payment made to Resident except for TDS on Salary |
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|
Note – 2 |
If PAN not provided by the Deductee then rate as per above table or 20% which ever is higher is to be deducted. |
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Note – 3 |
So forth status of the Returning NRI is Resident but Not Ordinary Resident (R but NOR), Interest on FCNR Deposits and RFC Deposits is exempt from Tax and hence not liable for TDS. His global income will also not be charged to tax in India |
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alttag
