INCOME TAX RATE FOR A.Y. 2015-2016 OTHER THAN INDIVIDUAL/HUF

Co-operative Society: -
Where the taxable income does not exceed from Rs. 10000/-                             10% of the income
Where the taxable income exceed Rs. 10000/- but up to Rs.20000/-                  Rs. 1000+ 20% of income
                                                                                                                          in excess of Rs.10000/-
Where the taxable income exceed Rs. 20000/-                                                   Rs. 3000 + 30% of income
                                                                                                                         in excess of Rs. 20000/-

Partnership Firm: -

Income Tax: - 30% of taxable income

Local Authority: -

Income Tax: - 30% of taxable income

Note:- 1. Surcharge on above mentioned assessee: - 10% of the income tax, (where taxable income is more than Rs. 1 Crore (Marginal relief in surcharge, if applicable * See Note mention below)
2. Education Cess 2% and Secondary Higher Education cess 1% on total Income tax plus surcharge.

Domestic Company: -

Income Tax: - 30% of taxable income
Surcharge : -
At the rate of 5% of such income tax, provided that the taxable income exceeds Rs. 1 crore. (Marginal Relief in Surcharge, if applicable)
At the rate of 10% of such income tax, provided that the taxable income exceeds Rs. 10 crores.

Company other than a Domestic Company (Foreign Company): -

1. @ 50% of on so much of the taxable income as consist of 
(a) royalties received from Government or an Indian concern in pursuance of an agreement made by it with the Government or the Indian concern after the 31st day of March, 1961 but before the 1st day of April, 1976; or 
(b) fees for rendering technical services received from Government or an Indian concern in pursuance of an agreement made by it with the Government or the Indian concern after the 29th day of February, 1964 but before the 1st day of April, 1976, and where such agreement has, in either case, been approved by the Central Government.

2. @ 40% of the balance

Surcharge:- At the rate of 2% of such income tax, provided that the taxable income exceeds Rs. 1 crore. (Marginal Relief in Surcharge, if applicable)
At the rate of 5% of such income tax, provided that the taxable income exceeds Rs. 10 crores.

Education Cess @ 2% and Secondary Higher education cess 1% of the total of Income Tax and Surcharge.


Marginal Relief: -
When an assessee's taxable income exceeds Rs. 1 crore, he is liable to pay Surcharge at prescribed rates mentioned above on Income Tax payable by him. However, the amount of Income Tax and Surcharge shall not increase the amount of income tax payable on a taxable income of Rs. 1 crore by more than the amount of increase in taxable income.