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current_law_policy_pit_cit.json
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current_law_policy_pit_cit.json
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{
"_std_deduction": {
"long_name": "Standard Deduction for income from Salary",
"description": "This amount is deducted from salary to compute taxable incomee.",
"itr_ref": "Section 16(ia) of the Income Tax Act",
"notes": "",
"row_var": "AYEAR",
"row_label": ["2017", "2018", "2019"],
"start_year": 2017,
"cpi_inflatable": true,
"cpi_inflated": false,
"col_var": "",
"col_label": "",
"boolean_value": false,
"integer_value": false,
"value": [30000, 30000, 40000],
"range": {"min": 0, "max": 9e99},
"out_of_range_minmsg": "",
"out_of_range_maxmsg": "",
"out_of_range_action": "stop"
},
"_rate1": {
"long_name": "PIT tax rate 1",
"description": "The lowest tax rate, applied to the portion of taxable income below tax bracket 1.",
"itr_ref": "ITR-1 instructions, Tax Computation Table",
"notes": "",
"row_var": "AYEAR",
"row_label": ["2017"],
"start_year": 2017,
"cpi_inflatable": false,
"cpi_inflated": false,
"col_var": "",
"col_label": "",
"boolean_value": false,
"integer_value": false,
"value": [0.0],
"range": {"min": 0, "max": 1},
"out_of_range_minmsg": "",
"out_of_range_maxmsg": "",
"out_of_range_action": "stop"
},
"_tbrk1": {
"long_name": "PIT tax bracket 1 (upper threshold)",
"description": "Taxable income below this threshold is taxed at tax rate 1.",
"itr_ref": "ITR-1 instructions, Tax Computation Table",
"notes": "",
"row_var": "AYEAR",
"row_label": ["2017"],
"start_year": 2017,
"cpi_inflatable": true,
"cpi_inflated": false,
"col_var": "AGEGRP",
"col_label": ["<60", "60-79", ">=80"],
"boolean_value": false,
"integer_value": false,
"value": [[0.25e6, 0.30e6, 0.50e6]],
"range": {"min": 0, "max": "_tbrk2"},
"out_of_range_minmsg": "",
"out_of_range_maxmsg": "for _tbrk2",
"out_of_range_action": "stop"
},
"_rate2": {
"long_name": "PIT tax rate 2",
"description": "The second lowest tax rate, applied to the portion of taxable income below tax bracket 2 and above tax bracket 1.",
"itr_ref": "ITR-1 instructions, Tax Computation Table",
"notes": "",
"row_var": "AYEAR",
"row_label": ["2017", "2018"],
"start_year": 2017,
"cpi_inflatable": false,
"cpi_inflated": false,
"col_var": "",
"col_label": "",
"boolean_value": false,
"integer_value": false,
"value": [0.10, 0.05],
"range": {"min": 0, "max": 1},
"out_of_range_minmsg": "",
"out_of_range_maxmsg": "",
"out_of_range_action": "stop"
},
"_tbrk2": {
"long_name": "PIT tax bracket 2 (upper threshold)",
"description": "Income below this threshold and above tax bracket 1 is taxed at tax rate 2.",
"itr_ref": "ITR-1 instructions, Tax Computation Table",
"notes": "",
"row_var": "AYEAR",
"row_label": ["2017"],
"start_year": 2017,
"cpi_inflatable": true,
"cpi_inflated": false,
"col_var": "AGEGRP",
"col_label": ["<60", "60-79", ">=80"],
"boolean_value": false,
"integer_value": false,
"value": [[0.5e6, 0.5e6, 0.5e6]],
"range": {"min": "_tbrk1", "max": "_tbrk3"},
"out_of_range_minmsg": "for _tbrk1",
"out_of_range_maxmsg": "for _tbrk3",
"out_of_range_action": "stop"
},
"_rate3": {
"long_name": "PIT tax rate 3",
"description": "The third lowest tax rate, applied to the portion of taxable income below tax bracket 3 and above tax bracket 2.",
"itr_ref": "ITR-1 instructions, Tax Computation Table",
"notes": "",
"row_var": "AYEAR",
"row_label": ["2017"],
"start_year": 2017,
"cpi_inflatable": false,
"cpi_inflated": false,
"col_var": "",
"col_label": "",
"boolean_value": false,
"integer_value": false,
"value": [0.20],
"range": {"min": 0, "max": 1},
"out_of_range_minmsg": "",
"out_of_range_maxmsg": "",
"out_of_range_action": "stop"
},
"_tbrk3": {
"long_name": "PIT tax bracket 3 (upper threshold)",
"description": "Income below this threshold and above tax bracket 2 is taxed at tax rate 3.",
"itr_ref": "ITR-1 instructions, Tax Computation Table",
"notes": "",
"row_var": "AYEAR",
"row_label": ["2017"],
"start_year": 2017,
"cpi_inflatable": true,
"cpi_inflated": false,
"col_var": "AGEGRP",
"col_label": ["<60", "60-79", ">=80"],
"boolean_value": false,
"integer_value": false,
"value": [[1e6, 1e6, 1e6]],
"range": {"min": "_tbrk2", "max": "_tbrk4"},
"out_of_range_minmsg": "for _tbrk2",
"out_of_range_maxmsg": "for _tbrk4",
"out_of_range_action": "stop"
},
"_rate4": {
"long_name": "PIT tax rate 4",
"description": "The fourth lowest tax rate, applied to the portion of taxable income below tax bracket 4 and above tax bracket 3.",
"itr_ref": "ITR-1 instructions, Tax Computation Table",
"notes": "",
"row_var": "AYEAR",
"row_label": ["2017"],
"start_year": 2017,
"cpi_inflatable": false,
"cpi_inflated": false,
"col_var": "",
"col_label": "",
"boolean_value": false,
"integer_value": false,
"value": [0.30],
"range": {"min": 0, "max": 1},
"out_of_range_minmsg": "",
"out_of_range_maxmsg": "",
"out_of_range_action": "stop"
},
"_tbrk4": {
"long_name": "PIT tax bracket 4 (upper threshold)",
"description": "Income below this threshold and above tax bracket 3 is taxed at tax rate 4.",
"itr_ref": "ITR-1 instructions, Tax Computation Table",
"notes": "",
"row_var": "AYEAR",
"row_label": ["2017"],
"start_year": 2017,
"cpi_inflatable": true,
"cpi_inflated": false,
"col_var": "AGEGRP",
"col_label": ["<60", "60-79", ">=80"],
"boolean_value": false,
"integer_value": false,
"value": [[9e99, 9e99, 9e99]],
"range": {"min": 9e99, "max": 9e99},
"out_of_range_minmsg": "",
"out_of_range_maxmsg": "",
"out_of_range_action": "stop"
},
"_ST_CG_RATE1": {
"long_name": "PIT STCG Rate 1",
"description": "Rate at which 111A (STCG on shares units on which where STT paid) is taxed",
"itr_ref": "ITR-3, Schedule SI, Line 1",
"notes": "",
"row_var": "AYEAR",
"row_label": ["2017"],
"start_year": 2017,
"cpi_inflatable": false,
"cpi_inflated": false,
"col_var": "",
"col_label": "",
"boolean_value": false,
"integer_value": false,
"value": [0.15],
"range": {"min": 0, "max": 1},
"out_of_range_minmsg": "",
"out_of_range_maxmsg": "",
"out_of_range_action": "stop"
},
"_ST_CG_RATE2": {
"long_name": "PIT STCG Rate 2",
"description": "Rate at which 115AD (STCG for FIIs on securities where STT not paid) is taxed",
"itr_ref": "ITR-3, Schedule SI, Line 2",
"notes": "",
"row_var": "AYEAR",
"row_label": ["2017"],
"start_year": 2017,
"cpi_inflatable": false,
"cpi_inflated": false,
"col_var": "",
"col_label": "",
"boolean_value": false,
"integer_value": false,
"value": [0.30],
"range": {"min": 0, "max": 1},
"out_of_range_minmsg": "",
"out_of_range_maxmsg": "",
"out_of_range_action": "stop"
},
"_LT_CG_RATE1": {
"long_name": "PIT LTCG Rate 1",
"description": "Rate at which 112(prov), 112(1)(c)(iii), 115AC, 115ACA, 115AD, 115E (LTCG) is taxed",
"itr_ref": "ITR-3, Schedule SI, Line 3-9",
"notes": "",
"row_var": "AYEAR",
"row_label": ["2017"],
"start_year": 2017,
"cpi_inflatable": false,
"cpi_inflated": false,
"col_var": "",
"col_label": "",
"boolean_value": false,
"integer_value": false,
"value": [0.10],
"range": {"min": 0, "max": 1},
"out_of_range_minmsg": "",
"out_of_range_maxmsg": "",
"out_of_range_action": "stop"
},
"_LT_CG_RATE2": {
"long_name": "PIT LTCG Rate 2",
"description": "Rate at which 112 (LTCG on Others) is taxed",
"itr_ref": "ITR-3, Schedule SI, Line 10",
"notes": "",
"row_var": "AYEAR",
"row_label": ["2017"],
"start_year": 2017,
"cpi_inflatable": false,
"cpi_inflated": false,
"col_var": "",
"col_label": "",
"boolean_value": false,
"integer_value": false,
"value": [0.20],
"range": {"min": 0, "max": 1},
"out_of_range_minmsg": "",
"out_of_range_maxmsg": "",
"out_of_range_action": "stop"
},
"_rebate_thd": {
"long_name": "rebate under section 87A threshold)",
"description": "Income below this threshold is eligible for the rebate.",
"itr_ref": "ITR-1 instructions, Tax Computation Table",
"notes": "",
"row_var": "AYEAR",
"row_label": ["2017", "2018"],
"start_year": 2017,
"cpi_inflatable": true,
"cpi_inflated": false,
"col_var": "",
"col_label": "",
"boolean_value": false,
"integer_value": false,
"value": [500000, 350000],
"range": {"min": 0, "max": 9e99},
"out_of_range_minmsg": "",
"out_of_range_maxmsg": "",
"out_of_range_action": "stop"
},
"_rebate_rate": {
"long_name": "rebate rate under section 87A",
"description": "rebate rate",
"itr_ref": "ITR-1 instructions, Tax Computation Table",
"notes": "",
"row_var": "AYEAR",
"row_label": ["2017", "2018"],
"start_year": 2017,
"cpi_inflatable": false,
"cpi_inflated": false,
"col_var": "",
"col_label": "",
"boolean_value": false,
"integer_value": false,
"value": [0.1, 0.05],
"range": {"min": 0, "max": 1},
"out_of_range_minmsg": "",
"out_of_range_maxmsg": "",
"out_of_range_action": "stop"
},
"_rebate_ceiling": {
"long_name": "upper limit for rebate",
"description": "this is the ceiling for rebate u/s 87A",
"itr_ref": "ITR-1 instructions, Tax Computation Table",
"notes": "",
"row_var": "AYEAR",
"row_label": ["2017", "2018"],
"start_year": 2017,
"cpi_inflatable": true,
"cpi_inflated": false,
"col_var": "",
"col_label": "",
"boolean_value": false,
"integer_value": false,
"value": [5000, 2500],
"range": {"min": 0, "max": 9e99},
"out_of_range_minmsg": "",
"out_of_range_maxmsg": "",
"out_of_range_action": "stop"
},
"_surcharge_rate": {
"long_name": "rate at which surcharge is levied",
"description": "rate applied to tax liability if income is above a threshold",
"itr_ref": "ITR-1 instructions, Tax Computation Table",
"notes": "",
"row_var": "AYEAR",
"row_label": ["2017", "2018"],
"start_year": 2017,
"cpi_inflatable": false,
"cpi_inflated": false,
"col_var": "TTI1",
"col_label": ["bracket1", "bracket2", "bracket3"],
"boolean_value": false,
"integer_value": false,
"value": [[0.0, 0.15, 0.15],
[0.0, 0.10, 0.15]],
"range": {"min": 0, "max": 1},
"out_of_range_minmsg": "",
"out_of_range_maxmsg": "",
"out_of_range_action": "stop"
},
"_surcharge_thd": {
"long_name": "income threshold for levy of surcharge",
"description": "income threshold for surcharge",
"itr_ref": "ITR-1 instructions, Tax Computation Table",
"notes": "",
"row_var": "AYEAR",
"row_label": ["2017", "2018"],
"start_year": 2017,
"cpi_inflatable": true,
"cpi_inflated": false,
"col_var": "TTI2",
"col_label": ["bracket1", "bracket2"],
"boolean_value": false,
"integer_value": false,
"value": [[10000000, 10000000],
[5000000, 10000000]],
"range": {"min": 0, "max": 9e99},
"out_of_range_minmsg": "",
"out_of_range_maxmsg": "",
"out_of_range_action": "stop"
},
"_cit_surcharge_rate": {
"long_name": "rate at which surcharge is levied for companies",
"description": "surcharge rates for companies",
"itr_ref": "Tax Computation Table, Finance Act",
"notes": "",
"row_var": "AYEAR",
"row_label": ["2017"],
"start_year": 2017,
"cpi_inflatable": false,
"cpi_inflated": false,
"col_var": "TTI1",
"col_label": ["bracket1", "bracket2", "bracket3"],
"boolean_value": false,
"integer_value": false,
"value": [[0.0, 0.07, 0.12]],
"range": {"min": 0, "max": 1},
"out_of_range_minmsg": "",
"out_of_range_maxmsg": "",
"out_of_range_action": "stop"
},
"_cit_surcharge_thd": {
"long_name": "income threshold for levy of surcharge for companies",
"description": "income threshold for surcharge for companies",
"itr_ref": "Tax Computation Table, Finance Act",
"notes": "",
"row_var": "AYEAR",
"row_label": ["2017"],
"start_year": 2017,
"cpi_inflatable": true,
"cpi_inflated": false,
"col_var": "TTI2",
"col_label": ["bracket1", "bracket2"],
"boolean_value": false,
"integer_value": false,
"value": [[10000000, 100000000]],
"range": {"min": 0, "max": 9e99},
"out_of_range_minmsg": "",
"out_of_range_maxmsg": "",
"out_of_range_action": "stop"
},
"_cess_rate": {
"long_name": "rate at which cess is levied",
"description": "cess applied to sum of tax and surcharge",
"itr_ref": "ITR-1 instructions, Tax Computation Table",
"notes": "",
"row_var": "AYEAR",
"row_label": ["2017", "2018", "2019"],
"start_year": 2017,
"cpi_inflatable": false,
"cpi_inflated": false,
"col_var": "",
"col_label": "",
"boolean_value": false,
"integer_value": false,
"value": [0.03, 0.03, 0.04],
"range": {"min": 0, "max": 1},
"out_of_range_minmsg": "",
"out_of_range_maxmsg": "",
"out_of_range_action": "stop"
},
"_cit_rate": {
"long_name": "rate at which corporates are taxed",
"description": "Corporate Tax rate",
"itr_ref": "Schedule 1 Finance Act",
"notes": "",
"row_var": "AYEAR",
"row_label": ["2017"],
"start_year": 2017,
"cpi_inflatable": false,
"cpi_inflated": false,
"col_var": "",
"col_label": "",
"boolean_value": false,
"integer_value": false,
"value": [0.3],
"range": {"min": 0, "max": 1},
"out_of_range_minmsg": "",
"out_of_range_maxmsg": "",
"out_of_range_action": "stop"
},
"_Loss_CFLimit": {
"long_name": "Loss carryforward limit (years)",
"description": "Number of years for loss carryforward",
"itr_ref": "IT Act",
"notes": "",
"row_var": "AYEAR",
"row_label": ["2017", "2018"],
"start_year": 2017,
"cpi_inflatable": false,
"cpi_inflated": false,
"col_var": "",
"col_label": "",
"boolean_value": false,
"integer_value": true,
"value": [8, 8],
"range": {"min": 0, "max": 9e99},
"out_of_range_minmsg": "",
"out_of_range_maxmsg": "",
"out_of_range_action": "stop"
},
"_dep_rate_pm1": {
"long_name": "Depreciation Rate for first block for Plant and Machinery",
"description": "Depreciation Rate for first block for Plant and Machinery",
"itr_ref": "ITR6 Schedule DPM 2(i)",
"notes": "",
"row_var": "AYEAR",
"row_label": ["2017", "2018"],
"start_year": 2017,
"cpi_inflatable": false,
"cpi_inflated": false,
"col_var": "",
"col_label": "",
"boolean_value": false,
"integer_value": false,
"value": [0.15, 0.15],
"range": {"min": 0, "max": 1},
"out_of_range_minmsg": "",
"out_of_range_maxmsg": "",
"out_of_range_action": "stop"
}
}