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Income Tax Slab Rates for Individual A.Y. 2022-23 | F.Y. 2021-22
Income Tax Slab Rates for Individual A.Y. 2022-23 | F.Y. 2021-22
- Tax Rates Assessment Year 2022-23
Individual or HUF Opting for Normal Tax Regime
|
Net Income Range |
Individuals |
|
(Other than senior and super senior citizen) |
|
|
Up to Rs. 2,50,000 |
– |
|
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% |
|
Net Income Range |
Senior Citizen (Age above 60, below 80) |
|
Up to Rs. 3,00,000 |
– |
|
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% |
|
Net Income Range |
Super Senior Citizen (Age above 80) |
|
Up to Rs. 5,00,000 |
– |
|
Rs. 5,00,001 to Rs. 10,00,000 |
20% |
|
Above Rs. 10,00,000 |
30% |
Individuals or HUF opting for New Tax Regime (Section 115BAC)
- Rates of Tax for A.Y 2022-23
|
Net Income Range |
Individuals |
|
Up to Rs. 2,50,000 |
– |
|
Rs. 2,50,001 to Rs. 5,00,000 |
5% |
|
Rs. 5,00,001 to Rs. 7,50,000 |
10% |
|
Rs. 7,50,001 to Rs. 10,00,000 |
15% |
|
Rs. 10,00,000 to Rs. 12,50,000 |
20% |
|
Rs. 12,50,001 to Rs. 15,00,000 |
25% |
|
Above Rs. 15,00,000 |
30% |
- Rate of Surcharge in the hands of the Individual
|
Nature of Income |
Less than |
More than |
More than |
More than |
More than 5 |
|
50 |
50 lakhs & |
1 cr. |
2 cr. |
cr. |
|
|
lakh |
Up to 1 cr. |
& |
& |
|
|
|
|
|
Up to 2 cr. |
Up to 5 cr. |
|
|
|
Short-term capital gain |
Nil |
10% |
15% |
15% |
15% |
|
covered under Section 111A |
|||||
|
Long-term capital gain covered under Section 112A |
Nil |
10% |
15% |
15% |
15% |
|
Long-term capital gain covered under Section 112 |
Nil |
10% |
15% |
25% |
37% |
|
Dividend income |
Nil |
10% |
15% |
15% |
15% |
|
Unexplained income chargeable to tax under Section 115BBE |
25% |
25% |
25% |
25% |
25% |
|
Any other income |
Nil |
10% |
15% |
25% |
37% |
*A resident individual having taxable income up to Rs 5,00,000 will get a tax rebate of Rs 12,500 or equal to the amount of tax payable (whichever is lower).
From LegalMantra.net Team