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NRI Tax Rates for Assessment Year 2018-19 & Assessment Year 2017-18

Tax Rates for NRIs

  1. In case of an Individual (resident or non-resident) or HUF or Association of Person or Body of Individual or any other artificial juridical person

Assessment Year 2017-18

Taxable income

Tax Rate
Up to Rs. 2,50,000 NIL
Rs. 2,50,000 to Rs. 5,00,000 10%
Rs. 5,00,000 to Rs. 10,00,000 20%
Above Rs. 10,00,000 30%

Less: Rebate under Section 87A

Add: Surcharge and Education Cess

 

  1. Surcharge: The amount of income-tax shall be increased by a surcharge at the rate of 15% of such tax, where the total income exceeds one crore rupees. However, the surcharge shall be subject to marginal relief (where income exceeds one crore rupees, the total amount payable as income-tax and surcharge shall not exceed total amount payable as income-tax on total income of one crore rupees by more than the amount of income that exceeds one crore rupees).
  2. Education Cess: The amount of income-tax and the applicable surcharge, shall be further increased by education cess calculated at the rate of two per cent of such income-tax and surcharge.
  3. Secondary and Higher Education Cess: The amount of income-tax and the applicable surcharge, shall be further increased by secondary and higher education cess calculated at the rate of one percent of such income-tax and surcharge.
  4. Rebate under Section 87A: The rebate is available to a resident individual if his total income does not exceed Rs.5,00,000. The amount of rebate shall be 100% of income-tax or Rs. 5,000, whichever is less.

Assessment Year 2018-19

Taxable income Tax Rate
Up to Rs. 2,50,000 NIL
Rs. 2,50,000 to Rs. 5,00,000 5%
Rs. 5,00,000 to Rs. 10,00,000 20%
Above Rs. 10,00,000 30%

Less: Rebate under Section 87A

Add: Surcharge and Education Cess

 

  1. Surcharge
  • The amount of income-tax shall be increased by a surcharge at the rate of 10% of such tax, where the total income exceeds 50 lakh rupees but does not exceed 1 crore rupees. However, the surcharge shall be subject to marginal relief (where income exceeds 50 lakh rupees, the total amount payable as income-tax and surcharge shall not exceed total amount payable as income-tax on total income of 50 lakh rupees by more than the amount of income that exceeds 50 lakh rupees).
  • The amount of income-tax shall be increased by a surcharge at the rate of 15% of such tax, where the total income exceeds one crore rupees. However, the surcharge shall be subject to marginal relief (where income exceeds one crore rupees, the total amount payable as income-tax and surcharge shall not exceed total amount payable as income-tax on total income of one crore rupees by more than the amount of income that exceeds one crore rupees).
  1. Education Cess: The amount of income-tax and the applicable surcharge, shall be further increased by education cess calculated at the rate of two per cent of such income-tax and surcharge.
  2. Secondary and Higher Education Cess: The amount of income-tax and the applicable surcharge, shall be further increased by secondary and higher education cess calculated at the rate of one percent of such income-tax and surcharge.
  3. Rebate under Section 87A: The rebate is available to a resident individual if his total income does not exceed Rs. 3,50,000. The amount of rebate shall be 100% of income-tax or Rs. 2,500, whichever is less.
Pragati Rajoria

Pragati Rajoria

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About Me

I’m a Commerce Graduate & CFP Professional, engaged in blogging since 3 years. I’m not affiliated with any financial product. The purpose of writing blog is to spread financial awareness and help people in achieving excellence for money. Please note that the views expressed on this Blog/Comments are clarifications meant for reference and guidance of the readers to explore further on the topics. These should not be construed as investment advice or legal opinion.

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