Super Tax on high earning persons (Section 4C, First Schedule, Part-I, Division-IIA)
S# | Taxable Income | Rate of Tax |
1 | Where income does not exceed Rs.150 million | 0% of the Income |
2 | Where income exceeds Rs. 150 million but does not exceed Rs. 200 million | 1% of the Income |
3 | Where income exceeds Rs. 200 million but does not exceed Rs. 250 million | 2% of the Income |
4 | Where income exceeds Rs. 250 million but does not exceed Rs. 300 million | 3% of the Income |
5 | Where income exceeds Rs. 250 million but does not exceed Rs. 300 million | 4% of the Income |
6 | Where the income exceeds Rs. 300 million: For persons engaged, whether partly or wholly, in the business of airlines, automobiles, beverages, cement, chemicals, cigarette and tobacco, fertilizer,iron and steel, LNG terminal, oil marketing, oil refining, petroleum and gas exploration and production, pharmaceuticals, sugar and textilesIn case of banking companies | 10% of the Income for Tax Year 2022 |
10% of the Income for Tax Year 2023 |