Tax Book 2023

Income From Property Chapter- 08

4. Where the gross amount of rent exceeds
   Rs.1, 2 00,000 but does not exceed
   Rs.2, 4 00,000.

Rs. 6 0,000 plus 17. 5 % of the gross amount

exceeding Rs.1, 2 00,000.

5. Where the gross amount of rent exceeds
   Rs. 2 , 4 00,000 but does not exceed Rs.
   3 ,000,000

Rs. 27 0,000 plus 22.5% of the gross amount

exceeding Rs. 2 , 4 00,000

6. Where the gross amount of rent exceeds
   is. 3 ,000,000 but does not exceed Rs. 4 ,000,000

Rs. 405 ,000 plus 27.5% of the gross amount

exceeding Rs. 3 ,000,000

7. Where the gross amount of rent exceeds
   Rs. 4 ,000,000 but does not exceed Rs. 6 ,000,000

Rs. 680 ,000 plus 32.5% of the gross amount

exceeding Rs. 4 ,000,000

8. Where the gross amount of rent exceeds
   Rs. 6 ,000,000

Rs.1, 33 0,000 plus 35% of the gross amount

exceeding Rs. 6 ,000,000

Note: A company will pay tax on its net income from property after admissible deductions

under Normal tax Regime. Although the withholding tax rate for a company being as recipient

of income from property is at 15% however the company will pay 29% tax (other than a small

company) on its total taxable income (including income from property).