Assessment year 2014-15
| Total Income | Tax Rates |
| First Rs. 2,00,000 | Nil |
| Next Rs. 50,000 | 10% |
| Next Rs. 2,50,000 | 10% |
| Next Rs. 5,00,000 | 20% |
| Above Rs. 10,00,000 | 30% |
Surcharge on income-tax: 10 per cent of income-tax if taxable income exceeds Rs. 1 crore (surcharge is payable whether taxpayer is resident or non-resident).
Education cess: 2% of income-tax and surcharge.
Secondary and higher education cess: 1% of income-tax and surcharge.
Assessment years 2015-16 to 2017-18
| Total Income | Tax Rates |
| First Rs. 2,50,000 | Nil |
| Next Rs. 50,000 | 10% |
| Next Rs. 2,00,000 | 10% |
| Next Rs. 5,00,000 | 20% |
| Above Rs. 10,00,000 | 30% |
Surcharge on income-tax: For assessment year 2015-16, 10 per cent of income-tax if taxable income exceeds Rs. 1 crore (surcharge is payable whether taxpayer is resident or non-resident).
For assessment year 2016-17, 12 per cent of income-tax if taxable income exceeds Rs. 1 crore (surcharge is payable whether taxpayer is resident or non-resident).
For the assessment year 2017-18, 15 per cent of income-tax if taxable income exceeds Rs. 1 crore (surcharge is payable whether taxpayer is resident or non-resident).
Education cess: 2% of income-tax and surcharge.
Secondary and higher education cess: 1% of income-tax and surcharge.
Assessment year 2018-19 to 2020-21
| Total Income | Tax Rates |
| First Rs. 2,50,000 | Nil |
| Next Rs. 50,000 | 5% |
| Next Rs. 2,00,000 | 5% |
| Next Rs. 5,00,000 | 20% |
| Above Rs. 10,00,000 | 30% |
Surcharge on Income tax: For the assessment years 2018-19 and 2019-20, 10 per cent of income-tax if taxable income exceeds Rs. 50 lakh or 15 per cent of income-tax if taxable income exceeds Rs. 1 crore (surcharge is payable whether taxpayer is resident or non-resident).
For the assessment year 2020-21,
10 per cent of income-tax if taxable income exceeds Rs. 50 lakh but does not exceed Rs. 1 crore or
15 per cent of income-tax if taxable income exceeds Rs. 1 crore but does not exceed Rs. 2 crore or
25 per cent of income-tax if taxable income exceeds Rs. 2 crore but does not exceed Rs. 5 crore or
37 per cent of income-tax if taxable income exceeds Rs. 5 crore (surcharge is payable whether taxpayer is resident or non-resident).
However, the maximum rate of surcharge on tax payable on capital gain as referred to in section 111A, and section 112A shall be 15%.
Education cess: 2% of income-tax and surcharge for the assessment year 2018-19.
Secondary and higher education cess: 1% of income-tax and surcharge for the assessment year 2018-19.
Health and education cess: 4% of income-tax and surcharge for the assessment year 2019-20 and 2020-21.
Assessment year 2021-22
| Net income range | Tax Rates |
| Up to Rs. 2,50,000 | Nil |
| Rs. 2,50,001- Rs. ,00,000 | 5% |
| Rs. 5,00,001- Rs. 10,00,000 | 20% |
| Above Rs. 10,00,000 | 30% |
Surcharge on income-tax:
10 per cent of income-tax if taxable income exceeds Rs. 50 lakh but does not exceed Rs. 1 crore or
15 per cent of income-tax if taxable income exceeds Rs. 1 crore but does not exceed Rs. 2 crore or
25 per cent of income-tax if taxable income exceeds Rs. 2 crore but does not exceed Rs. 5 crore or
37 per cent of income-tax if taxable income exceeds Rs. 5 crore (surcharge is payable whether taxpayer is resident or non-resident).
However, the maximum rate of surcharge on tax payable on capital gain as referred to in section 111A, and section 112A shall be 15%.
Health and education cess: 4% of income-tax and surcharge.
Assessment year 2022-23
| Net income range | Tax Rates |
| Up to Rs. 2,50,000 | Nil |
| Rs. 2,50,001- Rs. 5,00,000 | 5% |
| Rs. 5,00,001- Rs. 10,00,000 | 20% |
| Above Rs. 10,00,000 | 30% |
Surcharge on income-tax:
10 per cent of income-tax if taxable income exceeds Rs. 50 lakh but does not exceed Rs. 1 crore or
15 per cent of income-tax if taxable income exceeds Rs. 1 crore but does not exceed Rs. 2 crore or
25 per cent of income-tax if taxable income exceeds Rs. 2 crore but does not exceed Rs. 5 crore or
37 per cent of income-tax if taxable income exceeds Rs. 5 crore (surcharge is payable whether taxpayer is resident or non-resident).
However, the maximum rate of surcharge on tax payable on dividend income or capital gains referred to in Section 111A, and Section 112A shall be 15%.
Health and education cess : 4% of income-tax and surcharge.
Assessment year 2023-24
| Net income range | Tax Rates |
| Up to Rs. 2,50,000 | Nil |
| Rs. 2,50,001- Rs. 5,00,000 | 5% |
| Rs. 5,00,001- Rs. 10,00,000 | 20% |
| Above Rs. 10,00,000 | 30% |
Surcharge on income-tax:
10 per cent of income-tax if taxable income exceeds Rs. 50 lakh but does not exceed Rs. 1 crore or
15 per cent of income-tax if taxable income exceeds Rs. 1 crore but does not exceed Rs. 2 crore or
25 per cent of income-tax if taxable income exceeds Rs. 2 crore but does not exceed Rs. 5 crore or
37 per cent of income-tax if taxable income exceeds Rs. 5 crore (surcharge is payable whether taxpayer is resident or non-resident).
However, the maximum rate of surcharge on tax payable on dividend income or capital gain referred to in Section 111A, Section 112, or Section 112A shall be 15%.
Health and education cess : 4% of income-tax and surcharge.