Income Tax Rates for Local Authorities (FY 2018-19/ AY 2019-20)

Income tax rate for Local Authorities, in respect of FY 2018-19 (AY 2019-20), is 30%, subject to application/ addition of Health & Education Cess and Surcharge, as per Finance Act, 2018, as under:

i) Health & Education Cess @ 4% in all cases; and

ii) Surcharge @ 12% in cases where total income of the Local Authority exceeds Rs. 1 crore, subject to provisions relating to marginal relief, if applicable.

Related Posts:

Income Tax Slabs/ Rates: Income Tax Cess, Surcharge & Rebate
Resident Individuals Education Cess Rates
NRIs/ HUFs/ AOP/ BOI/ AJP Surcharge Rates
Partnership Firms and LLPs Marginal Relief from Surcharge
Domestic Companies Rebate u/s 87A for Individuals
Foreign Companies  
Co-operative Societies  
Local Authorities  

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