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 Kapil Kant

Advocate Kapil Kant

Cheque Bounce, Civil, Documentation, Family, Immigration, Property, Tax, Revenue

Get Advice
Advocate Purendra Singh

Advocate Purendra Singh

Anticipatory Bail, Bankruptcy & Insolvency, Banking & Finance, Breach of Contract, Cheque Bounce, Child Custody, Civil, Consumer Court, Corporate, Court Marriage, Criminal, Cyber Crime, Divorce, Documentation, Domestic Violence, Family, High Court, Immigration, Insurance, Labour & Service, Landlord & Tenant, Media and Entertainment, Motor Accident, Muslim Law, Property, R.T.I, Recovery, RERA, Startup, Succession Certificate, Tax

Get Advice
Advocate Enju Rohan Kumar

Advocate Enju Rohan Kumar

Anticipatory Bail, Arbitration, Consumer Court, Criminal, Cyber Crime, GST, High Court, Insurance, Motor Accident, NCLT, RERA, Succession Certificate, Tax

Get Advice
Advocate Sathyaraj S

Advocate Sathyaraj S

Anticipatory Bail, Arbitration, Banking & Finance, Breach of Contract, Cheque Bounce, Child Custody, Civil, Consumer Court, Corporate, Criminal, Cyber Crime, Divorce, Documentation, Domestic Violence, Family, High Court, Immigration, International Law, Labour & Service, Landlord & Tenant, Medical Negligence, Property, R.T.I, Startup, Tax, Trademark & Copyright, Wills Trusts, Revenue

Get Advice
Advocate Sujith Mohan Karimalakunnel

Advocate Sujith Mohan Karimalakunnel

Tax, Trademark & Copyright, Corporate

Get Advice
Advocate Ravi Sharma

Advocate Ravi Sharma

Cheque Bounce, Child Custody, Civil, Consumer Court, Court Marriage, Criminal, Cyber Crime, 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

Get Advice
Advocate Hashmita Dilip Punjabi

Advocate Hashmita Dilip Punjabi

Child Custody, Civil, Consumer Court, Court Marriage, Criminal, Divorce, Documentation, Domestic Violence, Family, High Court, Recovery, Tax, Revenue, Cheque Bounce, Succession Certificate, Anticipatory Bail, Arbitration

Get Advice
Advocate Naman Jain

Advocate Naman Jain

Cheque Bounce, Consumer Court, Motor Accident, Tax, Trademark & Copyright

Get Advice
Advocate Alok Kumar

Advocate Alok Kumar

GST, Customs & Central Excise, Tax, Corporate, Trademark & Copyright

Get Advice
Advocate Jitendra Tripathi

Advocate Jitendra Tripathi

GST, Tax, High Court, Revenue, Banking & Finance

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.