'Tax Rates' applicable to every AOP / BOI / Artificial Juridical Person (A.Y. 2017-2018 i.e. F.Y. 2016-2017)

Tax Rates applicable to every AOP / BOI / Artificial Juridical Person (A.Y. 2017-2018 i.e. F.Y. 2016-2017)

Net Income Range Income-Tax Rates Education Cess Secondary And Higher Education Cess Up to Rs. 2,50,000 NIL NIL NIL Rs. 2,50,000 – Rs. 5,00,000 10% of (total income minus Rs. 2,50,000) [*] 2% of income-tax 1% of income-tax Rs. 5,00,000 – Rs. 10,00,000 Rs. 25,000 + 20% of (total income minus Rs. 5,00,000) 2% of income-tax 1% of income-tax Above Rs. 10,00,000 Rs. 1,25,000 + 30% of (total income minus Rs. 10,00,000 2% of income-tax 1% of income-tax Surcharge : Surcharge is levied @ 15% on the amount of income-tax where net income exceeds Rs. 1 crore. In a case where surcharge is levied, EC of 2% and SHEC of 1% will be levied on the amount of income-tax plus surcharge. However, marginal relief is available from surcharge in such a manner that in the case of a person having a net income of exceeding Rs. 1 crore, the amount payable as income tax and surcharge shall not exceed the total amount payable as income-tax on total income of Rs. 1 crore by more than the amount of income that exceeds Rs. 1 crore. AMT : In the case of a non-corporate taxpayers to whom the provisions of Alternate Minimum Tax (AMT) applies, tax payable cannot be less than 18.5% (+SC+EC+SHEC) of "adjusted total income" computed as per section 115JC. For provisions relating to AMT refer tutorial on “MAT/AMT” in tutorial section.