Income tax rate for Partnership Firms (registered/ unregistered) including Limited Liability Partnerships (LLPs) in respect of FY 2018-19 (AY 2019-20) is 30%, subject to application/ addition of Health and Education Cess and Surcharge, as under:
i) Health & Education Cess @ 4% in all cases; and
ii) Surcharge @ 12% in cases where total income of the Firm/ LLP exceeds Rs. 1 crore, subject to provisions relating to marginal relief, if applicable.
|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|