This disclosure relates generally to document processing, and more particularly to method and system for detecting and extracting tabular data from a document. In one embodiment, the method may include generating a hierarchy of features, for a plurality of features of an image document derived from the document, based on relative spatial properties of the plurality of features. The method may further include segmenting the image document into a plurality of semantic segments based on the hierarchy of features, classifying each of the plurality of semantic segments into at least one of a plurality of tabular structures, and effecting at least one of a detection or an extraction of the tabular data from the image document based on the classification.