Page 3 - HDFC Bank TPP Flipbook

Surcharge :
(i) 10% of Income Tax if the total income exceeds r 50 Lakhs but not exceeding r 1 Crore.
(ii) 15% of Income Tax if the total income exceeds r 1 Crore but not exceeding r 2 Crores.
(iii) 25% of Income Tax if the total income exceeds r 2 Crores but not exceeding r 5 Crores.
(iv) 37% of Income Tax if the total income exceeds r 5 crores.
Subject to the provisions of marginal relief. In case where the total income includes any income
chargeable under Section 111A and Section 112A of the Act (being an equity share or an equity oriented
mutual fund unit and unit of business trust), the surcharge of 25% and 37% on the amount of Income
tax computed in respect of that part of income shall not exceed 15%. Further, Health and Education Cess
shall be levied @ 4% over and above the total amount of the Income tax and Surcharge.

The abovementioned tax benefits are subject to changes in tax laws. Please contact your tax
consultant for an exact calculation of your tax liabilities.

Note: Tax Rebate u/s. 87A up to r 12,500 or 100% of Income Tax, whichever is less, is available to resident
individuals having total income below r 5,00,000

What are the Options available for Tax Saving
Income Tax Eligible Assessee Deductions Limit of Deduction
Section
80C Individual & HUF 1. Life Insurance Premium As per Section
80CCE, the aggregate
In case of individual – for himself, spouse amount of deduction
and any child of individual u/s 80C, 80CCC and
In case of HUF – any member of the HUF 80CCD (1), shall not
in, any case, exceed
2. Individual’s own contribution to – r 1,50,000
(a) Employee’s PF, (b) Superannuation
Fund, (c) RPF
3. Contribution to PPF in the name of
individual, his/her spouse or any child of
such individual
4. Contribution by a Government employee
for securing deferred annuity not exceeding
1/5th of salary
5. Contribution to ULIP of UTI or LIC MF
In case of individual – for individual, spouse
and any child of individual and in case of
HUF – any member of the HUF
6. Subscription to NSC VIII Issue
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