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 Aditya Jain

Advocate Aditya Jain

Arbitration, Banking & Finance, Cheque Bounce, Civil, Consumer Court, Court Marriage, Criminal, Divorce, Family, High Court, Motor Accident, Property, R.T.I, Recovery, Succession Certificate, Tax, Wills Trusts, Revenue, Documentation, Landlord & Tenant, Insurance

Get Advice
Advocate Amita Katiyar

Advocate Amita Katiyar

Anticipatory Bail, Cheque Bounce, Child Custody, Civil, Consumer Court, Court Marriage, Criminal, Cyber Crime, Divorce, GST, Domestic Violence, Family, High Court, Labour & Service, Landlord & Tenant, Motor Accident, Muslim Law, Property, Recovery, Succession Certificate, Supreme Court, Tax

Get Advice
Advocate Chanchal Kumar Rai

Advocate Chanchal Kumar Rai

Armed Forces Tribunal, Bankruptcy & Insolvency, Banking & Finance, Breach of Contract, Civil, Cyber Crime, Documentation, Domestic Violence, Family, High Court, Immigration, Insurance, Landlord & Tenant, Media and Entertainment, Muslim Law, NCLT, RERA, Supreme Court, Tax, Trademark & Copyright, Wills Trusts, Revenue

Get Advice
Advocate Pradeep Sharma

Advocate Pradeep Sharma

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

Get Advice
Advocate Om Pratap Singh

Advocate Om Pratap Singh

Anticipatory Bail, Banking & Finance, Breach of Contract, Cheque Bounce, Civil, Consumer Court, Corporate, Court Marriage, Criminal, Cyber Crime, Divorce, GST, Family, High Court, Insurance, International Law, Muslim Law, NCLT, Property, R.T.I, Supreme Court, Tax, Trademark & Copyright, Bankruptcy & Insolvency, Child Custody, Domestic Violence, Landlord & Tenant, Labour & Service, Motor Accident

Get Advice
Advocate Imran Aziz Sheikh

Advocate Imran Aziz Sheikh

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

Get Advice
Advocate Ravi Sankara Reddy P

Advocate Ravi Sankara Reddy P

Anticipatory Bail, Arbitration, Cheque Bounce, Child Custody, Civil, Corporate, Criminal, Cyber Crime, Divorce, GST, Domestic Violence, Family, High Court, Insurance, Labour & Service, Landlord & Tenant, Media and Entertainment, Motor Accident, NCLT, Property, RERA, Recovery, Startup, Tax, Trademark & Copyright, Wills Trusts, Revenue, Banking & Finance, Bankruptcy & Insolvency, Breach of Contract, Supreme Court

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
Advocate Birpal singh

Advocate Birpal singh

GST, Cheque Bounce, Anticipatory Bail, Criminal, Divorce, Tax

Get Advice
Advocate Tapas Kumar Patra

Advocate Tapas Kumar Patra

Anticipatory Bail,Arbitration,Banking & Finance,Cheque Bounce,Civil,Consumer Court,Corporate,Criminal,Cyber Crime,Divorce,Tax,

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.