Law4u - Made in India

What are the tax rates in India for individuals and businesses?

14-Mar-2023
Tax

Answer By law4u team

The tax rates in India differ for individuals and businesses. For individuals, the tax rates are as follows: For individuals with an annual income of up to Rs. 2.5 lakh: No tax For individuals with an annual income between Rs. 2.5 lakh and Rs. 5 lakh: 5% tax For individuals with an annual income between Rs. 5 lakh and Rs. 7.5 lakh: 10% tax For individuals with an annual income between Rs. 7.5 lakh and Rs. 10 lakh: 15% tax For individuals with an annual income between Rs. 10 lakh and Rs. 12.5 lakh: 20% tax For individuals with an annual income between Rs. 12.5 lakh and Rs. 15 lakh: 25% tax For individuals with an annual income above Rs. 15 lakh: 30% tax For businesses, the tax rates are as follows: For domestic companies: 25% tax For foreign companies: 40% tax In addition to the above taxes, there may be other taxes applicable to specific goods and services, such as GST (Goods and Services Tax).

Tax Verified Advocates

Get expert legal advice instantly.

Advocate vipul Ajwaliya

Advocate vipul Ajwaliya

Anticipatory Bail,Arbitration,Armed Forces Tribunal,Bankruptcy & Insolvency,Banking & Finance,Breach of Contract,Cheque Bounce,Child Custody,Civil,Consumer Court,Corporate,Court Marriage,Customs & Central Excise,Criminal,Cyber Crime,Divorce,Documentation,GST,Domestic Violence,Family,High Court,Immigration,Insurance,International Law,Labour & Service,Landlord & Tenant,Media and Entertainment,Medical Negligence,Motor Accident,Muslim Law,NCLT,Patent,Property,R.T.I,Recovery,RERA,Startup,Succession Certificate,Supreme Court,Tax,Trademark & Copyright,Wills Trusts,Revenue

Get Advice
Advocate Kunal Pawar

Advocate Kunal Pawar

Anticipatory Bail, Arbitration, Armed Forces Tribunal, Bankruptcy & Insolvency, Banking & Finance, Breach of Contract, Cheque Bounce, Child Custody, Civil, Consumer Court, Corporate, Court Marriage, Criminal, Cyber Crime, Divorce, Documentation, GST, Domestic Violence, Family, High Court, Insurance, Labour & Service, Landlord & Tenant, Media and Entertainment, Motor Accident, Muslim Law, Property, R.T.I, Recovery, Startup, Supreme Court, Tax, Trademark & Copyright, Wills Trusts, Revenue

Get Advice
Advocate Saurav Sharma

Advocate Saurav Sharma

Anticipatory Bail, Arbitration, Bankruptcy & Insolvency, Banking & Finance, Breach of Contract, Cheque Bounce, Civil, Consumer Court, Corporate, Criminal, Cyber Crime, Divorce, GST, Domestic Violence, High Court, Media and Entertainment, Motor Accident, NCLT, Property, Recovery, RERA, Supreme Court, Tax, Trademark & Copyright, Revenue

Get Advice
Advocate Ramprasad Gaikwad

Advocate Ramprasad Gaikwad

Anticipatory Bail, Arbitration, Armed Forces Tribunal, Bankruptcy & Insolvency, Banking & Finance, Breach of Contract, Cheque Bounce, Child Custody, Civil, Consumer Court, Corporate, Court Marriage, Customs & Central Excise, Criminal, Cyber Crime, Divorce, Documentation, GST, Domestic Violence, Family, High Court, Immigration, Insurance, International Law, Labour & Service, Landlord & Tenant, Media and Entertainment, Medical Negligence, Motor Accident, Muslim Law, NCLT, Patent, Property, R.T.I, Recovery, RERA, Startup, Succession Certificate, Supreme Court, Tax, Trademark & Copyright, Wills Trusts, Revenue

Get Advice
Advocate Mohd Kadir

Advocate Mohd Kadir

Divorce, GST, Domestic Violence, Family, NCLT, Tax, Banking & Finance, Civil

Get Advice
Advocate Mohd Usman Shahid

Advocate Mohd Usman Shahid

Anticipatory Bail, Banking & Finance, Cheque Bounce, Child Custody, Civil, Consumer Court, Corporate, Court Marriage, Customs & Central Excise, Criminal, Cyber Crime, Divorce, GST, Domestic Violence, Family, High Court, Labour & Service, Motor Accident, Muslim Law, Patent, Property, R.T.I, Tax

Get Advice
Advocate Ravi Sharma

Advocate Ravi Sharma

Cheque Bounce, Child Custody, Civil, Consumer Court, Court Marriage, Criminal, Divorce, Documentation, GST, Domestic Violence, Family, High Court, Landlord & Tenant, Motor Accident, Property, R.T.I, Recovery, Succession Certificate, Tax, Trademark & Copyright, Wills Trusts, Revenue, Cyber Crime

Get Advice
Advocate Sangram Singh Rathore

Advocate Sangram Singh Rathore

Anticipatory Bail, Arbitration, Breach of Contract, Cheque Bounce, Child Custody, Court Marriage, Consumer Court, Civil, Criminal, GST, Divorce, Cyber Crime, Domestic Violence, High Court, Family, Insurance, Motor Accident, Muslim Law, Property, Recovery, Tax, R.T.I, Labour & Service, Revenue, Wills Trusts

Get Advice
Advocate Santosh G Tiwari

Advocate Santosh G Tiwari

GST, Documentation, Family, Cheque Bounce, Banking & Finance, Tax

Get Advice
Advocate Santosh Kalokhe

Advocate Santosh Kalokhe

Civil, GST, Domestic Violence, High Court, Tax, Customs & Central Excise, Criminal, Cheque Bounce, Succession Certificate

Get Advice

Tax Related Questions

Discover clear and detailed answers to common questions about Breach of Contract. Learn about procedures and more in straightforward language.