Special Rates for Non-Resident Indians (NRIs) The following incomes in the case of
non-resident Indians are taxed at special rates on a gross basis: Nature of Income Rates Dividend 20% Interest received on loans given in foreign currency to Indian concern or GOI (Govt Of India) …
Showing posts with label Budget 2014 -15. Show all posts
Showing posts with label Budget 2014 -15. Show all posts
BUDGET 2014 - 15: Dividend Distribution Tax..
Dividend Distribution Tax (DDT) (1) Dividends distributed by a Domestic Company are exempt from
income-tax in the hands of all shareholders. The Domestic Company is liable to
pay DDT at 16.995% (inclusive of surcharge & education cess) on such
dividends. (2) For computati…
BUDGET 2014 - 15: Dividends Earned by an Indian Company..
Dividends Earned by an Indian Company Dividends
earned by an Indian company from a
foreign Company in which it holds 26% or / more
equity shares shall be taxable at the rate of 15% (plus
applicable surcharge and education cess) on gross amount of such dividends.
BUDGET 2014 - 15: Wealth Tax..
Wealth Tax... Wealth
tax is imposed at 1% on the value of specified assets
held by the taxpayer on the valuation date (31 March) in
excess of the basic exemption of Rs. 30 lakh Wealth Tax abolished from 2015-16
BUDGET 2014 - 15: Commodity Transaction Tax
Commodity Transaction Tax (CTT) CTT
is levied on the value of taxable commodities transactions as follows: Transaction Rates Payable by Sale of commodity derivative (other
than agricultural commodities) entered in a recognised association 0.01% Seller
BUDGET 2014 - 15: Securities Transaction Tax on Share and MF
Securities Transaction Tax (STT) on on Share and Mutual
Fund.. * * STT
is levied on the value of taxable securities transactions as follows: Transaction Rate Payable by Purchase / Sale of equity shares (delivery based) 0.10% Purchaser / Seller Purchase of units of equity oriented …
BUDGET 2014-15: Alternate Minimum Tax - Persons Other than a Company
Alternate Minimum Tax (AMT) - Persons Other than a
Company (1) AMT is applicable to persons other than Company (2) AMT is levied at 18.5% of the adjusted total Income in
case of persons other than a Company where income-tax payable on the total
income (according to the normal…
BUDGET 2014 - 15: Minimum Alternate Tax - Companies
Minimum Alternate Tax (MAT) / Alternate Minimum Tax For Companies (1) Minimum Alternate Tax ( MAT) is levied at 18.5% of the adjusted book profit for
companies where income-tax payable on the total income (according to the normal
provisions of the Act) is less than 18.5% of th…
BUDGET 2014 - 15: Income Tax Rates For Foreign Companies
Income
Tax Rates For Foreign Companies (1) Foreign companies are taxable at 40% (2) A 2% surcharge is applicable if the total income exceeds
Rs. 10,000,000 but does not exceed Rs. 100,000,000. Marginal relief available (3) A 5% surcharge is applicable if the total income exce…
BUDGET 2014 - 15: Income Tax Rates For Domestic Companies
Income Tax Rates For Domestic Companies (1) Domestic companies are taxable at 30% (2) Special method for computation of total income of insurance
companies. The rate
of tax on profits from life insurance business is 12.5%. (3) A 5% surcharge is applicable if the total income …
BUDGET 2014 - 15: Income Tax Rates For Firms
Income
Tax Rates For Firms - including (LLP) (1) Firms (including LLPs ( limited liability partnership ) ) are taxable at 30%. (2) A 10% surcharge is applicable if the total income
exceeds Rs. 10,000,000. Marginal relief available (3) A 3% education cess applicable on income-tax …
BUDGET 2014 - 15: Income Tax Rates For Local Authorities
Income
Tax Rates For Local Authorities (1) Local Authorities are taxable at 30%. (2) A 10% surcharge is applicable if the total income exceeds
INR10,000,000. Marginal relief available (3) A 3% education cess is applicable on income-tax (inclusive
of surcharge, if any).
BUDGET 2014 - 15: Income Tax Rates For Co-operative Societies
IIncome Tax Rates For
Co-operative Societies Total Income Income Tax Rates Up to Rs.10,000 10% Rs. 10,001 to Rs. 20,000 20% Rs. 20,001 and above 30%
(1) A 10% surcharge is applicable if the total income exceeds Rs.
10,000,000. Marginal relief available
(2) A 3% education ces…
BUDGET 2014 - 15: Income Tax Rates For Individuals, HUF, AOP and BOI
Income tax rates for 2014-15 For Individuals, HUF, AOP and BOI* Total Income Income Tax Rates Up to Rs. 2.5 lakh NIL Rs. 2,50,001 to Rs. 5 lakh 10% Rs. 5,00,001 to Rs.10 lakh 20% Rs. 10,00,001 and above 30% 1. For a resident individual aged
between 60 and 80, the basic exemption li…
