Assessment year : 2019 - 20
Previous year : 2018 - 19
1. For resident Senior Citizens. (Age above 60 Years)
Up to Rs 3,00,000 Nil
Rs. 3,00,001 to Rs. 5,00,000  5%
Rs. 5,00,001 to Rs. 10,00,000 20%
Above Rs. 10,00,000 30%
2. For resident Super Senior Citizens. (Age above 80 Years)
Up to Rs 5,00,000 Nil
Rs. 5,00,001 to Rs. 10,00,000 20%
Above Rs. 10,00,000 30%
3. Individuals, [other than those mentioned above, HUF, AOP/BOI (other than co-operative societies).
Upto Rs. 2,50,000 Nil
Rs. 2,50,001 to Rs. 5,00,000  5%
Rs. 5,00,001 to Rs 10,00,000 20%
Above Rs. 10,00,000 30%
Note: Rebate u/s 87A is added from Finance Act 2017, in which resident individuals are allowed rebate (if their taxable income does not exceed Rs. 3.5 lakh) equal to 100% of income tax or Rs. 2,500 whichever less.

Surcharge :
10% for Individual having taxable Income exceeding  50 Lacs upto 1 Crore
15% for Individual having taxable Income exceeding 1 Crore

Education Cess : 2% on income-tax plus surcharge.

Secondary and Higher Education cess : 1% on income-tax plus surcharge

Long-Term Capital Gains: 20% on income-tax plus surcharge.

Short-Term Capital Gains u/s 111A:15% on income-tax plus surcharge.

Firms

Income tax : 30%.

Surcharge : 12% of the Income Tax, where total taxable income is more than Rs. 1 crore.

Companies

(A) Domestic Companies

Income tax : 30% (25% if turnover or gross receipt does not exceed Rs.250 Crore in the Financial Year 2016-17))

Surcharge: 7% if the taxable income exceeds Rs. 1 crore & 12% if the taxable income exceeds 10 crores

Health and Education Cess: 4% on the amount of Tax plus surcharge

(B) Foreign Companies
Income tax : 40% (in general )
Surcharge : 2% if the taxable income exceeds Rs. 1 crore & 5% if the taxable income exceeds 10 crores
Education Cess : 4% on the amount of Tax plus surcharge
Cooperative Societies
Upto Rs. 10,000 10%
Rs. 10,001 to Rs. 20,000 20%
Rs. 20,001 to Above 30%

Surcharge : 12% of the Income Tax, where total taxable income is more than Rs. 1 crore.

Health and Education Cess : 4% on the amount of Tax .

Local Authorities

Income tax : 30%.

Surcharge : 12% of the Income Tax, where total taxable income is more than Rs. 1 crore

Health and Education Cess : 4% on the amount of Tax.

Assessment year : 2018 - 19
Previous year : 2017 - 18
1. For resident Senior Citizens. (Age above 60 Years)
Up to Rs 3,00,000 Nil
Rs. 3,00,001 to Rs. 5,00,000  5%
Rs. 5,00,001 to Rs. 10,00,000 20%
Above Rs. 10,00,000 30%
2. For resident Super Senior Citizens. (Age above 80 Years)
Up to Rs 5,00,000 Nil
Rs. 5,00,001 to Rs. 10,00,000 20%
Above Rs. 10,00,000 30%
3. Individuals, [other than those mentioned above, HUF, AOP/BOI (other than co-operative societies).
Upto Rs. 2,50,000 Nil
Rs. 2,50,001 to Rs. 5,00,000  5%
Rs. 5,00,001 to Rs 10,00,000 20%
Above Rs. 10,00,000 30%
Note: Rebate u/s 87A is added from Finance Act 2013, in which resident individuals are allowed rebate (if their taxable income does not exceed Rs. 3.5 lakh) equal to 100% of income tax or Rs. 2,500 whichever less.

Surcharge :
10% for Individual having taxable Income exceeding  50 Lacs upto 1 Crore
15% for Individual having taxable Income exceeding 1 Crore

Education Cess : 2% on income-tax plus surcharge.

Secondary and Higher Education cess : 1% on income-tax plus surcharge

Long-Term Capital Gains: 20% on income-tax plus surcharge.

Short-Term Capital Gains u/s 111A:15% on income-tax plus surcharge.

Firms

Income tax : 30%.

Surcharge : 12% of the Income Tax, where total taxable income is more than Rs. 1 crore.

Education Cess : 2% on income-tax plus surcharge

Secondary and Higher Education cess : 1% on income-tax plus surcharge

Companies

(A) Domestic Companies

Income tax : 30% (25% if turnover or gross receipt does not exceed Rs.50 Crore)

Surcharge: 7% if the taxable income exceeds Rs. 1 crore & 12% if the taxable income exceeds 10 crores

Education Cess: 2% on income-tax plus surcharge.

Secondary and Higher Education cess : 1% on income-tax plus surcharge

(B) Foreign Companies
Income tax : 40% (in general )
Surcharge : 2% if the taxable income exceeds Rs. 1 crore & 5% if the taxable income exceeds 10 crores
Education Cess : 2% on income-tax plus surcharge
Secondary and Higher Education cess : 1% on income-tax plus surcharge
Cooperative Societies
Upto Rs. 10,000 10%
Rs. 10,001 to Rs. 20,000 20%
Rs. 20,001 to Above 30%

Surcharge : 12% of the Income Tax, where total taxable income is more than Rs. 1 crore.

Education Cess : 2% on income-tax.

Secondary And Higher EducationCess : 1% on income tax plus surcharge

Local Authorities

Income tax : 30%.

Surcharge : 12% of the Income Tax, where total taxable income is more than Rs. 1 crore

Education Cess : 2% on income-tax plus surcharge.

Secondary and Higher Education cess : 1% on income-tax plus surcharge

Contact Us

Phone: +91 9889377860 ,9889817381
0542-2410473
Email: managingpartner@arss.co.in
Address: Plot No. 19/15 E-A-35-R,
Badshah Bagh Colony,
Fatman Road, Maldahiya,Varanasi
221001, U.P

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Due Date Reminder

  • Jan Feb Mar Apr May June
    July Aug Sep Oct Nov Dec
    All
  • 20 Feb 20 Filing of GSTR-3B for the month of Jan, 2020
    20 Feb 20 Filing of GSTR-5 for Non-resident foreign taxpayer for the month of Jan 2019
    20 Feb 20 GST Return for NRI OIDAR service provider for the month of Jan 2019 (GSTR 5A)
    01 Mar 20 furnishing of challan-cum-statement in respect of tax deducted u/s 194-IA in month of January 19
    01 Mar 20 Due date for furnishing of challan-cum-statement in respect of tax deducted u/s 194-IB in month of January 19
    07 Mar 20 Payment of TDS of February 2020 (For Govt deductors paying through challan)
    11 Mar 20 Filing of GSTR-1 for the month of Feb 2020 , whose turnover > 1.5cr
    15 Mar 20 P.F Payment
    15 Mar 20 ESIC Payments
    15 Mar 20 furnishing of Form 24G by an office of Government where TDS for m/o Feb 2020 has been paid without production of a challan
    16 Mar 20 Due date for issue of TDS Certificate for tax deducted under Section 194-IA in the month of January, 2020.
    16 Mar 20 Due date for issue of TDS Certificate for tax deducted under Section 194-IB in the month of January, 2020
    20 Mar 20 Filing of GSTR-3B for the month of Feb, 2020
    20 Mar 20 Filing of GSTR-5 for Non-resident foreign taxpayer for the month of Feb, 2020
    20 Mar 20 GST Return for NRI OIDAR service provider for the month of February 2020 (GSTR 5A)
    30 Mar 20 furnishing of challan-cum-statement in respect of tax deducted u/s 194-IA in month of February 2020
    30 Mar 20 Due date for furnishing of challan-cum-statement in respect of tax deducted u/s 194-IB in month of February 2020

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