TAX RATES FOR INDIVIDUALS AND HUF FINANCIAL YEAR 2013-14 (A.Y. 2014-15)

Individuals age below 60 years and Hindu Undivided Family (H.U.F)

 

Income Slab

 

Rate of Income Tax F.Y. 2013-14

The total income is less than Rs. 2,00,000/-

 

 

NIL

Total Income Exceeds Rs. 2,00,000 but does not exceed Rs. 5,00,000  

Tax 10% on the amount exceeds Rs. 200000/-

Deduction 10% of taxable Income upto maximum of Rs. 2000/- as tax Credit

Total Income Exceeds Rs. 5,00,000 but does not exceed Rs. 10,00,000  

Tax of Rs. 30,000+20% of the amount exceeds Rs. 5,00,000

Total Income Exceeds Rs. 10,00,000  

Tax of Rs. 1,30,000+ 30% of the amount exceeds Rs. 10,00,000

                                                     

Surcharge

10% of the Income Tax If the Income taxable Income exceeds Rs. 1 Crore

 

Education Cess

3% of the total of Income Tax and Surcharge

 

Individuals age above 60 years but below 80 Years during the previous year

 

Income Slab

 

Rate of Income Tax F.Y. 2013-14

The total income is less than Rs. 2,50,000/-

 

 

NIL

Total Income Exceeds Rs. 2,50,000 but does not exceed Rs. 5,00,000  

Tax 10% on the amount exceeds Rs. 250000/-

 

Total Income Exceeds Rs. 5,00,000 but does not exceed Rs. 10,00,000  

Tax of Rs. 25,000+20% of the amount exceeds Rs. 5,00,000

Total Income Exceeds Rs. 10,00,000  

Tax of Rs. 1,25,000+ 30% of the amount exceeds Rs. 10,00,000

                                                     

Surcharge

10% of the Income Tax If the Income taxable Income exceeds Rs. 1 Crore

 

Education Cess

3% of the total of Income Tax and Surcharge

 

Individuals age above 80 years during the previous year

 

 

Income Slab

 

Rate of Income Tax F.Y. 2013-14

The total income is less than Rs. 5,00,000/-

 

 

NIL

Total Income Exceeds Rs. 5,00,000 but does not exceed Rs. 10,00,000  

Tax of 20% of the amount exceeds Rs. 5,00,000

Total Income Exceeds Rs. 10,00,000  

Tax of Rs. 1,00,000+ 30% of the amount exceeds Rs. 10,00,000

                                                     

Surcharge

10% of the Income Tax If the Income taxable Income exceeds Rs. 1 Crore

 

Education Cess

3% of the total of Income Tax and Surcharge

 

TAX RATES FOR ASSOCIATION OF PERSONS AND BODY OF INDIVIDUALS (AOP & BOI) FINANCIAL YEAR 2013-14 (A.Y. 2014-15)

 

 

Income Slab

 

Rate of Income Tax F.Y. 2013-14

The total income is less than Rs. 2,00,000/-

 

 

NIL

Total Income Exceeds Rs. 2,00,000 but does not exceed Rs. 5,00,000  

Tax 10% on the amount exceeds Rs. 200000/-

Deduction 10% of taxable Income upto maximum of Rs. 2000/- as tax Credit

Total Income Exceeds Rs. 5,00,000 but does not exceed Rs. 10,00,000  

Tax of Rs. 30,000+20% of the amount exceeds Rs. 5,00,000

Total Income Exceeds Rs. 10,00,000  

Tax of Rs. 1,30,000+ 30% of the amount exceeds Rs. 10,00,000

 

Surcharge

10% of the Income Tax If the Income taxable Income exceeds Rs. 1 Crore

 

Education Cess

3% of the total of Income Tax and Surcharge  

TAX RATES FOR CO OPERATIVE SOCIETY FINANCIAL YEAR 2013-14 (A.Y. 2014-15)

 

 

Income Slab

 

Rate of Income Tax F.Y. 2013-14

The total income is less than Rs. 10,000/-

 

 

Tax of 10% of the Income

Total Income Exceeds Rs. 10,000 but does not exceed Rs. 20,000  

Tax of Rs. 1,000+20% of the amount exceeds Rs. 10,000

Total Income Exceeds Rs. 20,000  

Tax of Rs. 3,000+30% of the amount exceeds Rs. 5,00,000

 

Surcharge

10% of the Income Tax If the Income taxable Income exceeds Rs. 1 Crore

 

Education Cess

3% of the total of Income Tax and Surcharge  

TAX RATES FOR PARTNERSHIP FIRM FINANCIAL YEAR 2013-14 (A.Y. 2014-15)

 

Income Tax

30% of Taxable Income

 

Surcharge

10% of the Income Tax If the Income taxable Income exceeds Rs. 1 Crore

 

Education Cess

3% of the total of Income Tax and Surcharge  

TAX RATES FOR LOCAL AUTHORITY FINANCIAL YEAR 2013-14 (A.Y. 2014-15)

Income Tax

30% of Taxable Income

 

Surcharge

10% of the Income Tax If the Income taxable Income exceeds Rs. 1 Crore

 

Education Cess

3% of the total of Income Tax and Surcharge

 

TAX RATES FOR DOMESTIC COMPANY FINANCIAL YEAR 2013-14 (A.Y. 2014-15)

Income Tax

30% of Taxable Income

 

Surcharge

5% of the Income Tax If the Income taxable Income exceeds Rs. 1 Crore

10% of the Income Tax If the Income taxable Income exceeds Rs. 1 Crore

 

Education Cess

3% of the total of Income Tax and Surcharge

 

TAX RATES FOR COMPANY OTHER THAN DOMESTIC COMPANY FINANCIAL YEAR 2013-14 (A.Y. 2014-15)

Income Tax

50% of on so much of the total income as consist of

 

(a) royalties received from Government or an Indian concern in pursuance of an agreement made by it with the Government or the Indian concern after the 31st day of March, 1961 but before the 1st day of April, 1976; or

 

(b) fees for rendering technical services received from Government or an Indian concern in pursuance of an agreement made by it with the Government or the Indian concern after the 29th day of February, 1964 but before the 1st day of April, 1976, and where such agreement has, in either case, been approved by the Central Government

 

40% of the Balance Amount

 

Surcharge

5% of the Income Tax If the Income taxable Income exceeds Rs. 1 Crore

10% of the Income Tax If the Income taxable Income exceeds Rs. 10 Crores

 

Education Cess

3% of the total of Income Tax and Surcharge.

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