Note:
1. The Rate of Surcharges under the tax regime are as under:
|
Total Income |
Surcharge Rate |
|
|
Old Tax Regime |
New Tax Regime |
|
|
Up to Rs. 50 Lakh |
10% |
10% |
|
Above Rs. 50 Lakh and up to Rs. 1 Crore |
12% |
12% |
|
Above Rs. 1 Crore and up to Rs. 2 Crore |
15% |
15% |
|
Above Rs. 2 Crore and up to Rs. 5 Crore |
25% |
25% |
|
Total amount exceed Rs. 5 Crore |
37% |
25% |
Note:
The enhanced surcharge of 25% & 37%, as the case may be, is not levied, from income chargeable to tax under : 111A, 112, 112A and Dividend Income. Hence, the maximum rate of surcharge on tax payable on such incomes shall b when the income is taxable under section 115A, 115AB, 115AC, 115ACA and 115E.
2. Rebate u/s 87A: Resident Individuals are also eligible for a Rebate of up to 100% of income tax subject to a maximu on tax regimes as under: