created by
Rajesh Dhruva
TAX RATES TABLE
NRIs CORNER - TAX RATES TABLE AS REGARDS TO TAXABLE INCOME
FOR THE FINANCIAL YEAR 2024-25
1. For Individual / HUF (Existing Scheme)- Non-Resident Tax Payer
|
|
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.30,81,000 + 35.88 % (30%+15%+4%) of amount by which the total income exceeds Rs.1,00,00,000 |
| vii) | Total income more than 2,00,00,000 |
Rs. 66,69,000 + 39%(30%+25%+4%)of amount by which the total income exceeds Rs. 2,00,00,000 |
| viii) | Total income more 5,00,00,000 |
Rs 1,83,69,000+42.744%(30%+37%+4%) of amount by which the total income exceeds Rs 5,00,00,000 |
2. For Individual / HUF( New Scheme)- Non-Resident Tax Payer
|
|
TOTAL INCOME (INR) |
RATE OF INCOME TAX |
|
i) |
0 ≤ 3,00,000 |
NIL |
|
ii) |
3,00,000 ≤ 7,00,000 |
5.2% (5%+4%) of the amount by which the total income exceeds Rs. 3,00,000 |
|
iii) |
7,00,000 ≤ 10,00,000 |
Rs. 20,800 + 10.4% (10%+4%) of amount by which the total income exceeds Rs. 7,00,000 |
|
iv) |
10,00,000 ≤ 12,00,000 |
Rs.52,000 + 15.6% (15%+4%) of amount by which the total income exceeds Rs 10,00,000 |
|
v) |
12,00,000 ≤ 15,00,000 |
Rs. 83,200 + 20.8% (20%+4%) of amount by which the total income exceeds Rs. 12,00,000 |
|
vi) |
Total income more than 15,00,000 |
Rs. 1,45,600 + 31.2% ( 30%+4%) of amount by which the total income exceeds Rs. 15,00,000 |
| vii) | Total income more than 50,00,000 |
Rs. 12,37,600 + 34.32% (30%+10%+4%) of amount by which the total income exceeds Rs. 50,00,000 |
| viii) | Total income more than 1,00,00,000 |
Rs. 29,53,600 + 35.88 (30%+15%+4%) of amount by which the total income exceeds Rs. 1,00,00,000 |
| ix) | Total income more than 2,00,00,000 | Rs. 65,41,600 + 39% (30%+25%+4%) of amount by which the total income exceeds Rs. 2,00,00,000 |
| x) | Total income more than 5,00,00,000 | Rs. 1,82,41,600 + 42.744% (30%+37%+4%) of amount by which the total income exceeds Rs. 5,00,00,000 |
Special Rates for Income Tax: - (For Financial Year 2022-23)
3. 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 mutual fund |
15% |
|
ii) |
Other Short Term Capital Gain |
As per normal slab rate |
4. Long Term Capital Gain
|
|
TOTAL INCOME (INR) |
RATE OF INCOME TAX |
|
i) |
Long Term Capital Gain from equity share or |
Exempt upto Rs. 1 Lakh. Thereafter Tax @ 10%. |
|
ii) |
Long Term Capital Gain from listed securities,units and zero coupon bonds |
Tax @ 20% after indexation. |
|
iii) |
Long Term Capital Gain from unlisted securities |
10% |
|
iv) |
Long term Capital Gains on Specified Assets (In case of NRI |
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 |
|