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Rate of Tax 25% 0% -For 3 out of 7 years 30% Rate of Income Tax:Category of Company Domestic Companies with Turnover of upto Rs.

(iii) Interest on Partners Capital (if provided in the Partnership Deed) is allowed upto a Maximum of 12 % p.a. 1,50,000/- or 90 % of Book Profits, whichever is Higher 60% of Book Profit 3,00,000/- of the Book Profits or in case of Loss On balance of the Book Profits PARTNERSHIP FIRMS (i) Rate of Income Tax 30 % of Total Income Surcharge – Total Income upto 1 Crore – NIL Total Income > 1 Crore – 12% Education Cess – 3% of the Income Tax & Surcharge (ii) Remuneration to Partners (if provided in the Partnership Deed) may be paid out of Total Income before computation of Tax, with a maximum ceiling as follows: On the first Rs. 50 Lakhs – NIL Total Income > 50 Lakhs 1 Crore – 15% Įducation Cess – 3% of the Income Tax & Surcharge (II) (iii) Tax Calculator (Very Senior Citizen – Age 80 Years):SLAB

Tax adjusted against the Rebate u/s 87A of Rs. (ii) Tax Calculator (Senior Citizen – Age 60 Years):SLAB Rebate u/s 87A reduced from 5000/- to 2500/-Ī reduction of Rs. (I) INDIVIDUALS / HUF / AOP / BOI (i) Tax Calculator (General Category & Women):SLABġ. 2018-19) A quick review (Limited Information) of the applicable provisions under the income tax act after incorporating selective amendments proposed by the Budget of 2017 are given below for ready reference and information of our clients:(A)