Personal Tax in India

Overview by
Tax Base For Residents and Non-Residents
An individual is resident in India if the individual spends at least 182 days in the country in a given year, or 60 days if the individual has spent at least 365 days in India in the preceding four years. Residents of India are normally taxed on worldwide income. Non-residents are liable for tax on income sourced in India. However, expatriates who have lived in India for two years are normally liable for tax on their foreign income.

Tax Rate

Taxation Income (INR) Progressive Tax Rate up to 30%
Less than 160,000 0%
160,001 – 500,000 10%
500,001 – 800,000 INR 4,000 plus 20% of the amount exceeding INR 150,000
800,001 and above INR 24,000 plus 30% of the amount exceeding INR 250,000
Allowable Deductions and Tax Credit
Deductions are allowed for contributions to life insurance, recognized provident funds, national savings certificates, the national savings scheme, income from certain mutual funds and dividends, and some educational expenses up to an overall ceiling of INR 100,000.
Special Expatriate Tax Regime
There are no special exemptions or deductions available to foreign nationals working in India, except for local living allowances, which are exempt to the extent expense is actually incurred.
Capital Tax Rate
All individuals and other specified persons must pay a 1% wealth tax on the aggregate value exceeding INR 1.5m of non-productive assets such as land; buildings not used as factories; commercial property not used for business or profession; offices or residential accommodation for employees; gold, silver, platinum and other precious metals, gems and ornaments; and cars, aircraft and yachts.

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