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 Advocate Deepanshu Sahu

Advocate Advocate Deepanshu Sahu

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

Get Advice
Advocate Hariah Panwar

Advocate Hariah Panwar

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

Get Advice
Advocate Nitin Kumar Advocate

Advocate Nitin Kumar Advocate

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

Get Advice
Advocate Suman Kumar

Advocate Suman Kumar

Anticipatory Bail, Armed Forces Tribunal, Bankruptcy & Insolvency, Banking & Finance, Breach of Contract, Cheque Bounce, Civil, Consumer Court, Corporate, Court Marriage, Customs & Central Excise, Criminal, Cyber Crime, Divorce, Documentation, Domestic Violence, Family, High Court, Insurance, Labour & Service, Landlord & Tenant, Media and Entertainment, Medical Negligence, Motor Accident, Muslim Law, Property, Recovery, Succession Certificate, Tax, Trademark & Copyright, Wills Trusts

Get Advice
Advocate Nitesh Sharma

Advocate Nitesh Sharma

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, Cyber Crime, Divorce, Documentation, GST, Domestic Violence, Family, High Court, Immigration, Labour & Service, Media and Entertainment, Muslim Law, NCLT, Patent, R.T.I, Recovery, RERA, Startup, Trademark & Copyright, Wills Trusts, Supreme Court, Tax, Revenue, Motor Accident, Property, Succession Certificate, Criminal

Get Advice
Advocate Sujith Mohan Karimalakunnel

Advocate Sujith Mohan Karimalakunnel

Tax, Trademark & Copyright, Corporate

Get Advice
Advocate Amol Balu Chandole

Advocate Amol Balu Chandole

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

Get Advice
Advocate Pradeep Sharma

Advocate Pradeep Sharma

Anticipatory Bail, Breach of Contract, Cheque Bounce, Civil, Consumer Court, Corporate, Court Marriage, Criminal, Divorce, GST, Family, Motor Accident, Recovery, Tax

Get Advice
Advocate Umanath Dash

Advocate Umanath Dash

Divorce, Family, Civil, Criminal, Tax, Corporate, Cheque Bounce, Banking & Finance, Property, RERA, GST, R.T.I, Anticipatory Bail, High Court, Startup, Revenue

Get Advice
Advocate Arpan Kumar

Advocate Arpan Kumar

Cheque Bounce, Anticipatory Bail, Arbitration, Breach of Contract, Banking & Finance, Child Custody, Civil, Consumer Court, Criminal, Cyber Crime, Divorce, Domestic Violence, High Court, NCLT, Property, Motor Accident, R.T.I, Labour & Service, Insurance, Supreme Court, Trademark & Copyright, Tax, Bankruptcy & Insolvency, Family, Landlord & Tenant, Medical Negligence, Muslim Law, Recovery, Succession Certificate, Wills Trusts

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.