Page 122 - DHC Budget Book 2021-22 Final

INDIA BUDGET 2021-22 INCOME TAX RATES (FOR AY 2022-23)
For Individuals, HUF, AOP, BOI and Artificial Juridical Persons
Up to H 2,50,000*
For H 2,50,001 - H 5,00,000+
For H 5,00,001 - H 7,50,000
For H 7,50,001 - H 10,00,000
For H 10,00,001 - H 12,50,000 For H 12,50,001 - H 15,00,000 For H 15,00,001 - H 50,00,000 For H 50,00,001 - H 1,00,00,000 For H 1,00,00,001 - H 2,00,00,000 For H 2,00,00,001 - H 5,00,00,000 Above H 5,00,00,000
$Optional and applicable to individuals and HUF only
Nil
5.20%
10.40%
15.60%
20.80%
26.00%
31.20%
34.32%
35.88%
39.00%
42.74%
Income Tax Slabs
ETR under old regime (including surcharge# and cess@)
Proposed ETR as per Sec.115BAC$ (including surcharge# and cess@)
Nil
5.20%
20.80%
20.80%
31.20%
31.20%
31.20%
34.32%
35.88%
39.00%
42.74%
*In case of resident individual of age 60 years or more (senior citizen), basic threshold limit of H 3,00,000 remains unchanged. In case of resident individual of age 80 years or more (very senior citizen), basic threshold limit of H 5,00,000 remains unchanged.
+The maximum rebate available u/s 87A amounting to H 12,500 for individuals whose total income does not exceed H 5,00,000 remains unchanged.
# Surcharge is applicable at the following rates:
Total Income
Surcharge
For H 50,00,001 - H 1,00,00,000 10% For H 1,00,00,001 - H 2,00,00,000 15% For H 2,00,00,001 - H 5,00,00,000^ 25%^ Above H 5,00,00,000^ 37%^
^Surcharge on Income chargeable u/s 111A (STCG on listed securities), 112A (LTCG on listed securities) or 115AD (certain income of foreign institutional investors) shall not exceed 15%.
^Where Total Income exceeds H 2 Crs owing to inclusion of income chargeable u/s 111A (STCG on listed securities), 112A (LTCG on listed securities) or 115AD (certain income of foreign institutional investors), then surcharge shall be 15%.
Marginal relief shall be provided in all cases where surcharge shall be imposed. @Health & Education Cess @ 4% is applicable in all cases.
For Co-operative Societies
Income Tax Slabs
A. Co-operative societies not opting for new regime u/s 115BAD
Upto H 10,000
From H 10,001 - H 20,000
From H 20,001 - H 1,00,00,000
Above H 1,00,00,000
B. Resident Co-operative societies opting for
new regime u/s 115BAD
Tax
Surcharge#
Health & Education Cess
4%
4%
4%
4%
10%
-
H 1,000 + 20%
-
H 3,000 + 30%
-
H 29,97,000+ 30%
12%
120 Building a Resilient and Confident India