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