Special Income Tax Rates under section 115

 

SN	Section	Description	Rate of Income tax	Remarks
1	111A	Tax on short term – equity shares/ business trust – subject to STT	15%	STCG allowed to be reduced by CH VIA deductions.
2	112	Tax on Long term Capital gain Tax on equity LTCG without indexation	20% 10%	STCG allowed to be reduced by CH VIA deductions.
3	115A	Tax on dividends paid to foreign companies (other than referred to 115-O.) Tax on Interest paid to foreign companies Tax on Royalty & FTS paid to foreign companies	20%   5% 10%	Non resident require to file tax return in India.   / No PAN then rate become 20%.
4	115AB	Tax on profit from units purchased in forex. Dividend Long term capital gain	10% 10%	No deduction from profit.
5	115AC	Tax on profit from GDR purchased in forex. Dividend Long term capital gain	10% 10%	No deduction from profit.
6	115ACA	Tax on profit from GDR by India employee. Dividend Long term capital gain	10% 10%	No deduction from profit.
7	115AD	Capital gain on FII LTCG STCG	10% 30%
8	115B	Tax on profit of life insurance business	12.5%
9	115BB	Tax on lottery	30%
10	115BB	Tax on non resident sport-person	20%
11	115BBB	Tax on open ended equity fund	10%
12	115BBC	Tax on Anonymous donation	30%
13	115BBD	Tax on foreign dividend	15%
14	115BBE	Tax on income u/s 68/69	30%
15	115C	Definition section	NA
16	115D	No deduction in respect of investment income by way of capital gain/ interest or dividend.	NA
17	115F	NRI – no capital gain tax if invested u/s 10(4B)	NA
18	115G	NRI – not required to file tax return if only having investment income and TDS deducted accordingly.	NA
19	115JB	MAT tax for companies	18.5%
20	115JC	MAT tax for non – companies (not FII &AOP)	18.5%
21	115P	Dividend Distribution Tax on companies	15%
22	115QA	Tax on buy back of shares.	20%
23	115R	Tax on dividend distribution by Units	10%
24	115TA	Tax on distributed income to investor of trust	25/ 30%
25	115UA	Tax on income of unit holder and business trust	MMR
26	115VG	Computation of tonnage Income	NA

 

*Short term Capital gain on Units and GDR. – normal tax rate.

** plus applicable surcharge and cess.