Where taxable income does not exceed Rs.600,000 = 0%
Where taxable income exceeds Rs. 600,000 but does not exceed Rs. 1,200,000 = 1% of the amount exceeding Rs.600,000
Where taxable income exceeds Rs. 1,200,000 but does not exceed Rs. 2,200,000 = Rs 6000+1.00% of the amount exceeding Rs.1,200,000
Where taxable income exceeds Rs. 2,200,000 but does not exceed Rs. 3,200,000 = Rs. 116,000 +23.00% of the amount exceeding Rs. 2,200,000
Where taxable income exceeds Rs. 3,200,000 but does not exceed Rs. 4,100,000 = Rs. 346,000 +30.00% of the amount exceeding Rs. 3,200,000
Where taxable income exceeds Rs. 4,100,000 = Rs. 616,000 + 35.00% of the amount exceeding Rs. 4,100,000
Where taxable income exceeds Rs. 10,000,000 = Rs. 616,000 + 35% of the amount exceeding Rs.4,100,000 & surcharge @ 9%