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Tax Slabs for Unsalaried Income

The rates of tax imposed on the income of every individual and association of persons, except a salaried individual, are as follows:

Serial No Taxable Income Rate of Tax
1 Where the taxable income does not exceed Rs. 400,000 0%
2 Where the taxable income exceeds Rs. 400,000 but does not exceed Rs. 600,000 5% of the amount exceeding Rs. 400,000
3 Where the taxable income exceeds Rs. 600,000 but does not exceed Rs. 1,200,000 Rs. 10,000 plus 10% of the amount exceeding Rs. 600,000
4 Where the taxable income exceeds Rs. 1,200,000 but does not Rs. 2,400,000 Rs. 70,000 plus 15% of the amount exceeding Rs. 1,200,000
5 Where taxable income exceeds Rs. 2,400,000 but does not exceed Rs. 3,000,000 Rs. 250,000 plus 20% of the amount exceeding Rs. 2,400,000
6 Where taxable income exceeds Rs. 3,000,000 but does not exceed Rs. 4,000,000 Rs. 370,000 plus 25% of the amount exceeding Rs. 3,000,000
7 Where the taxable income exceeds Rs. 4,000,000 but does not exceed Rs. 6,000,000 Rs. 620,000 plus 30% of the amount exceeding Rs. 4,000,000
8 Where the taxable income exceeds Rs. 6,000,000 Rs. 1,220,000 plus 35% of the amount exceeding Rs. 6,000,000