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 Deepender Pandey

Advocate Deepender Pandey

Anticipatory Bail, Arbitration, Civil, Court Marriage, Criminal, Cyber Crime, GST, Domestic Violence, Family, High Court, Medical Negligence, Motor Accident, R.T.I, Property, RERA, Tax

Get Advice
Advocate Vikas Pathak

Advocate Vikas Pathak

Civil, Consumer Court, Corporate, Criminal, Documentation, GST, Labour & Service, Property, Tax, Customs & Central Excise

Get Advice
Advocate Aaqib Rashid

Advocate Aaqib Rashid

Anticipatory Bail, Arbitration, 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 Pawan Kumar Sharma

Advocate Pawan Kumar Sharma

Tax, GST, Divorce, Family, Labour & Service

Get Advice
Advocate Mandeep Kaur

Advocate Mandeep Kaur

Anticipatory Bail, Cheque Bounce, Child Custody, Civil, Consumer Court, Court Marriage, Criminal, Divorce, Documentation, Domestic Violence, Family, High Court, Insurance, Landlord & Tenant, Media and Entertainment, Motor Accident, Muslim Law, Property, Recovery, R.T.I, Succession Certificate, Supreme Court, Tax, Medical Negligence, Breach of Contract, Banking & Finance

Get Advice
Advocate Raman Sahu

Advocate Raman Sahu

Anticipatory Bail, Arbitration, Breach of Contract, Cheque Bounce, Child Custody, Civil, Consumer Court, Court Marriage, 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, Patent, Property, R.T.I, Recovery, RERA, Startup, Succession Certificate, Supreme Court, Tax, Trademark & Copyright, Wills Trusts, Revenue

Get Advice
Advocate Ajay K Arora

Advocate Ajay K Arora

Anticipatory Bail, Arbitration, Bankruptcy & Insolvency, Banking & Finance, Breach of Contract, Cheque Bounce, Civil, Consumer Court, Corporate, Court Marriage, Criminal, Cyber Crime, Divorce, Documentation, Domestic Violence, Family, High Court, Labour & Service, Landlord & Tenant, Medical Negligence, Motor Accident, NCLT, Property, Recovery, RERA, Startup, Succession Certificate, Supreme Court, Tax, Trademark & Copyright, Insurance

Get Advice
Advocate Abdul Karim

Advocate Abdul Karim

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

Get Advice
Advocate Shiv Vilas

Advocate Shiv Vilas

GST, Tax, Revenue, Civil, High Court

Get Advice
Advocate Hansraj Batolia

Advocate Hansraj Batolia

GST, Tax, Civil, Criminal, Cheque Bounce

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.