Mutual Funds
Fixed Income
Life Insurance
Non-Life Insurance
 

Tax Ready Reckoner for the current financial year (Assessment year 2006-07).

Tax Reckoner

 

For General Citizens

For Women

For Senior Citizens

Annual Taxable Income

Income tax

Sur- charge

Education Cess

Total

Income tax

Sur- charge

Education Cess

Total

Income tax

Sur- charge

Education Cess

Total

100000

0

0

0

0

0

0

0

0

0

0

0

0

135000

3500

0

70

3570

0

0

0

0

0

0

0

0

150000

5000

0

100

5100

1500

0

30

1530

0

0

0

0

185000

12000

0

240

12240

8500

0

170

8670

0

0

0

0

200000

15000

0

300

15300

11500

0

230

11730

3000

0

60

3060

250000

25000

0

500

25500

21500

0

430

21930

13000

0

260

13260

300000

40000

0

800

40800

36500

0

730

37230

28000

0

560

28560

400000

70000

0

1400

71400

66500

0

1330

67830

58000

0

1160

59160

500000

100000

0

2000

102000

96500

0

1930

98430

88000

0

1760

89760

1000000

250000

0

5000

255000

246500

0

4930

251430

238000

0

4760

242760

1100000

280000

28000

6160

314160

276500

27650

6083

310233

268000

26800

5896

300696

 

Tax rates for Resident Individual(Other than Women & Senior Citizen) or HUF

Net Income Range

Income Tax

Plus Surcharge

Plus Education Cess

Up to Rs. 1,00,000

Nil

Nil

Nil

Rs. 1,00,001 to Rs. 1,50,000

10% of income above Rs. 1,00,000

Nil

2% of income tax

Rs 1,50,001 to Rs. 2,50,000

Rs. 5,000 + 20% of the income above Rs. 1,50,000

Nil

2% of income tax

Rs. 2,50,001 to Rs. 10,00,000

Rs. 25,000 + 30% of income above Rs. 2,50,000

Nil

2% of income tax

Above Rs. 10,00,000

Rs. 2,50,000 + 30% of the income above Rs. 10,00,000

10% of income tax

2% of income tax and surcharge

 

Tax Rates For Resident Women below 65 years of age

Net Income Range

Income Tax

Plus Surcharge

Plus Education Cess

Up to Rs. 1,35,000

Nil

Nil

Nil

Rs. 1,35,001 to Rs. 1,50,000

10% of the income above Rs. 1,35,000

Nil

2% of income tax

Rs 1,50,001 to Rs. 2,50,000

Rs. 1,500 + 20% of the income above Rs. 1,50,000

Nil

2% of income tax

Rs. 2,50,001 to Rs. 10,00,000

Rs. 21,500 + 30% of the income above Rs. 2,50,000

Nil

2% of income tax

Above Rs. 10,00,000

Rs. 2,46,500 + 30% of the income above Rs. 10,00,000

10% of income tax

2% of income tax and surcharge

 

Tax Rates For Resident Senior Citizens ( 65 years of age and above, including those who turn 65 at any time during the Financial Year 2005-06)

Net Income Range

Income Tax

Plus Surcharge

Plus Education Cess

Up to Rs. 1,85,000

Nil

Nil

Nil

Rs. 1,85,001 to Rs. 2,50,000

20% of the income above Rs. 1,85,000

Nil

2% of income tax

Rs. 2,50,001 to Rs. 10,00,000

Rs. 13,000 + 30% of the income above Rs. 2,50,000

Nil

2% of income tax

Above Rs. 10,00,000

Rs. 2,38,000 + 30% of the income above Rs. 10,00,000

10% of income tax

2% of income tax and surcharge

 

Tax implications of various investment options.

 
 
 
 

Continuum Financial Services Pvt.Ltd.

Flat No 101, Saraswathi Nivas, # 1-98/6/3/B/1, Cyber Hills Colony, Behind Image Gardens, Madhapur, Hyderabad 500 033.
Phone : +91-040-65527169   Email : info@continuum.in

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