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What is Capital Expenditure

CAPITAL EXPENDITURE

Definition: Capital expenditure is a out-flow of fund to acquire an assets that will be benefited in the business for the period of more that one accounting year and are not intended for resale in the ordinary course of business. In short, it is an expenditure on assets which is not completely written off against income in the accounting period in which it is incurred.

Income Tax Slab Rates for F.Y. 2017-18 & A.Y. 2018-2019 (Non-individual)

Income Tax Slab Rates for F.Y. 2017-18 & A.Y. 2018-2019 (Non-individual)

Income tax rates on partnership firms, corporate income tax, income tax on co-operative societies and Local Authorities, being a resident of India.

1.      Income Tax on Partnership Firm (Including LLP) / Local Authorities

Sl. No.	Net Income Level	Rate of Income Tax
i.	Income up to 1 (One) Crore	30% (No Surcharge)
ii.	Income greater than 1 (One) Crore	30% (12% Surcharge)

Note: 1. E. Cess@2% and S&HE Cess@1% applicable for all cases

2.      Corporate Income Tax

Sl. No.	Net Income Level	Income range		Surcharge
		Domestic Company	Foreign Company	Domestic Company	Foreign Company
i.	Income up to 1 (One) Crore	30%	40%	NIL	NIL
ii.	Income more than 1 (One) Crore but less than 10 (Ten) Crore	30%	40%	7%	2%
iii.	Income more than more than 10 (Ten) Crore	30%	40%	12%	5%

Note: 1. E. Cess@2% and S&HE Cess@1% applicable for all cases

Note: 2.

a)     Domestic Company: Turn Over up to Rs. 50 (Fifty) Crore, Income Tax @ 25% of Taxable Income.

b)     Domestic Company: Turn Over exceeding Rs. 50 (Fifty) Crore, Income Tax @30% of Taxable Income

Note: 3.

a)     Foreign Company: Income Tax @50% on (i) Royalty received from government or an Indian concern in pursuance of an agreement (approved by Central government) between April 1, 1961 and 31 March, 1976 (ii) Fees for providing technical services in pursuance of an agreement (approved by Central government) made between February 29, 1964 and April 1, 1976

b)     Foreign Company: Income Tax @40% on rest of other Income.

3.      Income tax on Cooperative Societies

Sl. No.	Net Income Level	Rate of Income Tax
i.	Income up to 1 (One) Crore	10% (No Surcharge)
ii.	Income Rs. 10001 to Rs. 20000	20% (No Surcharge)
iii.	Income Rs. 20001 to Rs. 10000000	30% (No Surcharge)
Iv	Income more than 1 (One) Crore	30% (12% Surcharge)

Note: 1. E. Cess@2% and S&HE Cess@1% applicable for all cases

Income Tax Slab F.Y. 2017-18 & A.Y. 2018-2019 (Salary)

Income Tax Slab F.Y. 2017-18 & A.Y. 2018-2019 (Salary). Individual, HUF, BOI, AOP, AJP below the age of 60 years, being a resident of India.

Sl. No.	Net Income Level	Rate of Income Tax
i.	Income Less than Rs. 2.5 Lakh	NIL
ii.	Income greater than Rs. 2.5 Lakh but Less than Rs. 5 Lakh	5% of balance amount which exceeds Rs. 2.5 Lakh Tax Relief u/s 87A - Rebate u/s 87A Rs. 2500/- for individuals having total income (taxable income) up to Rs. 3.5 lakhs.
iii.	Income greater than Rs. 5 Lakh but Less than Rs. 10 Lakh	Rs. 12500/- Plus 20% of balance amount which exceeds Rs. 5 Lakh
iv.	Income greater than Rs. 10 Lakh	Rs. 112500/- Plus 30% of balance amount which exceeds Rs. 10 Lakh

Note: 1. E. Cess@2% and S&HE Cess@1% applicable for all cases

Note 2. Surcharge :

a)     10% of the Income Tax, where taxable income is more than Rs. 50 Lacs up to Rs. 1 Crore.

b)     15% of the Income Tax, where taxable income is more than Rs. 1 Crore.

Income Tax Slab F.Y. 2017-18 & A.Y. 2018-2019 (Salary). Individual age of 60 years or above but less than 80 years, being a resident of India.

Sl. No.	Net Income Level	Rate of Income Tax
i.	Income Less than Rs. 3 Lakh	NIL
ii.	Income greater than Rs. 3 Lakh but Less than Rs. 5 Lakh	5% of balance amount which exceeds Rs. 3 Lakh
iii.	Income greater than Rs. 5 Lakh but Less than Rs. 10 Lakh	Rs. 10000/- Plus 20% of balance amount which exceeds Rs. 5 Lakh
iv.	Income greater than Rs. 10 Lakh	Rs. 110000/- Plus 30% of balance amount which exceeds Rs. 10 Lakh

Note: 1. E. Cess@2% and S&HE Cess@1% applicable for all cases

Note 2. Surcharge :

a)     10% of the Income Tax, where taxable income is more than Rs. 50 Lacs up to Rs. 1 Crore.

b)     15% of the Income Tax, where taxable income is more than Rs. 1 Crore.

Income Tax Slab F.Y. 2017-18 & A.Y. 2018-2019 (Salary). Individual age of 80 years or above, being a resident of India.

Sl. No.	Net Income Level	Rate of Income Tax
i.	Income Less than Rs. 5 Lakh	NIL
ii.	Income greater than Rs. 5 Lakh but Less than Rs. 10 Lakh	20% of balance amount which exceeds Rs. 5 Lakh
iii.	Income greater than Rs. 10 Lakh	Rs. 100000/- Plus 30% of balance amount which exceeds Rs. 10 Lakh

Note: 1. E. Cess@2% and S&HE Cess@1% applicable for all cases

Note 2. Surcharge :

a)     10% of the Income Tax, where taxable income is more than Rs. 50 Lacs up to Rs. 1 Crore.

b)     15% of the Income Tax, where taxable income is more than Rs. 1 Crore.