Income Tax Slab Rates for   2013-14 and 2014-15              By        Shankar Bose    Inspector of Income-tax         MST...
Income Tax Slab Rates for         2013-14 and 2014-15Income Tax Slab/RateIncome Tax Slab/Rate for Assessment Year 2013-14 ...
Check Your Income Tax Refund Status for Current Year Online       For a resident senior citizen(who is above 60 years but ...
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Income tax slab for 2013-14 and 2014-15)

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Income tax slab for 2013-14 and 2014-15)

  1. 1. Income Tax Slab Rates for 2013-14 and 2014-15 By Shankar Bose Inspector of Income-tax MSTU, Puri
  2. 2. Income Tax Slab Rates for 2013-14 and 2014-15Income Tax Slab/RateIncome Tax Slab/Rate for Assessment Year 2013-14 and Income Tax Rates for F.Y. 2013-14 (A.Y 2014-15) are same as budget of 2103 has made no changes in the Income tax slabrates for Individual, Woman,Senior Citizen, Super Senior Citizenand HUF/AOP/BOI/artificial juridical person and Companies(including partnership firmsand LLP’s). (Check Approved List of Investment for Income Tax Deduction under 80C )As per 2013 Budget(Finance Act, 2013) section 87A of the Income Tax Act, 1961 rebate ofRs.2000/- will be given to the individual tax payer whose total does not exceed Rs 5 lakhs orwe can say that Individual Tax Payer whose total income doesn’t exceed Rs 5 Lakhs iseligible for deduction of Rs 20000/- from income. Budget of 2013 has levied the Surchargeof 10 percent on persons (other than companies) whose taxable income exceed Rs.1 crore toaugment revenues. Also government has increase the dividend distribution tax or tax ondistributed income, current surcharge increased from 5 to 10 percent. Check the CurrentService Tax Rate and List of Services Exempted from Service Tax. Reductions made inrates of Securities Transaction Tax in respect of certain transactionAssessment Year 2013-14 and 2014-15 (Check Which Income Tax Return Applicable to You) For a resident woman (who is below 60 years): Net income Education Secondary and higher Income tax rates range cess education cessUp to Rs. Nil Nil Nil2,00,000Rs. 2,00,000 – 10% of (total income – 2% of income 1% of income tax5,00,000 2,00,000) taxRs. 5,00,000 – 30000 + 20% of (total 2% of income 1% of income tax10,00,000 income – 5,00,000) taxAbove Rs. 130000 + 30% of (total 2% of income 1% of income tax10,00,000 income – 10,00,000) tax
  3. 3. Check Your Income Tax Refund Status for Current Year Online For a resident senior citizen(who is above 60 years but below 80 years): Learn How to Calculate Your Income Tax Liability Secondary and higherNet income range Income tax rates Education cess education cessUp to Rs. 2,50,000 Nil Nil NilRs. 2,50,000 – 10% of (total income – 2% of income 1% of income tax5,00,000 2,50,000) taxRs. 5,00,000 – 25,000 + 20% of (total income – 2% of income 1% of income tax10,00,000 5,00,000) taxAbove Rs. 1,25,000 + 30% of (total income 2% of income 1% of income tax10,00,000 – 10,00,000) tax For a resident super senior citizen(who is above 80 years): Check Income on Which No Income Tax Applicable, Check List of Exempted Income Secondary and higherNet income range Income tax rates Education cess education cessUp to Rs. 5,00,000 Nil Nil NilRs. 5,00,000 – 20% of (total income – 2% of income 1% of income tax10,00,000 5,00,000) taxAbove Rs. 1,00,000 + 30% of (total income 2% of income 1% of income tax10,00,000 – 10,00,000) tax For any other individual i.e. every HUF/AOP/BOI/artificial juridical person: Read How to Compute Income Tax for AOP/HUF/BOI Secondary and higherNet income range Income tax rates Education cess education cessUp to Rs. 2,00,000 Nil Nil NilRs. 2,00,000 – 10% of (total income – 2% of income 1% of income tax5,00,000 2,00,000) taxRs. 5,00,000 – 30,000 + 20% of (total income – 2% of income 1% of income tax10,00,000 5,00,000) taxAbove Rs. 1,30,000 + 30% of (total income 2% of income 1% of income tax10,00,000 – 10,00,000) taxIncome Tax Rates for Partnership Firm including LLP: Overview of Taxation on Income forPartnership.i.e. Partners Profit and Interest Payment Limits as per Income Tax Law Income Tax Rate: 30% Education Cess: 3%Income Tax Rates for Domestic Companies: Read More About Company Law Depreciation rate Income Tax Rate : 30% Surcharge: 5% ( surcharge from 5 to 10 percent on domestic companies whose taxable income exceed Rs.10 crore). Education Cess: 3% Thanks

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