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Income Tax Slab Rates For F.Y 2013-14,A.Y 2014-15



Individual Tax Rates
For Any Resident/Non Resident Individual,HUF,AOP,BOI,AJP
Net Income Range
Income Tax Rates
Surcharge
Edu. cess
Secndry &H.edu cess
up to 2,00,000
Nil
Nil
Nil
Nil
2,00,000-5,00,000
10%(T.I- 2,00,000)
Nil
2% of I.T
1% of I.T
5,00,000-10,00,000
30,000+20%(T.I- 5,00,000)
Nil
2% of I.T
1% of I.T
10,00,000-1,00,00,000
1,30,000+30%(T.I-10 lak)
Nil
2% of I.T
1% of I.T
Above 1 Crore
28,30,000+30%(T.I-1 Cr)
10% of I.T
2% of I.T&Sur.chrg
1% of I.T & Sur.chrg






For Resident Senior Citizen 
Net Income Range
Income Tax Rates
Surcharge
Edu. cess
Secndry &H.edu cess
up to 2,50,000
Nil
Nil
Nil
Nil
2,50,000-5,00,000
10%(T.I- 2,50,000)
Nil
2% of I.T
1% of I.T
5,00,000-10,00,000
25,000+20%(T.I- 5,00,000)
Nil
2% of I.T
1% of I.T
10,00,000-1,00,00,000
1,25,000+30%(T.I-10 lak)
Nil
2% of I.T
1% of I.T
Above 1 Crore
28,25,000+30%(T.I-1 Cr)
10% of I.T
2% of I.T&Sur.chrg
1% of I.T & Sur.chrg
Who is 60 yrs or more at any time during P.Y but lesss than 80 years
less than 80 years is cover under Senior citizen
 


For a Resident Super Senior Citizen
Net Income Range
Income Tax Rates
Surcharge
Edu. cess
Secndry &H.edu cess
up to 5,00,000
Nil
Nil
Nil
Nil
5,00,000-10,00,000
20%(T.I- 5,00,000)
Nil
2% of I.T
1% of I.T
10,00,000-1,00,00,000
1,00,000+30%(T.I-10 lak)
Nil
2% of I.T
1% of I.T
Above 1 Crore
28,00,000+30%(T.I-1 Cr)
10% of I.T
2% of I.T&Sur.chrg
1% of I.T & Sur.chrg
Who attains 80 years or more at any time during the P.Y cover under Super senior Citizen
 


Firms & Local Authorities
·         Firms & Local Authorities taxable at the rate of 30% of total income earned.
·         Surcharge is 10% of income tax, if income exceeds 1 cr, it is subject to Marginal Relief (Incase net income exceeds 1 cr the amount payable as income tax and surcharge shall not exceed the total amount payable as income tax on total income of 1 cr by more than the amount of income that exceeds Rs.1 cr)
·         Education cess is 2% of income tax & surcharge
·         SHEC is 1% income tax & surcharge



Company
The Tax rates applied for companys based on weather company is Domestic or Foreign
Domestic Company
30% of Total Income Earned (Flat)
Foreign Company
·         Royalty received from Govt of an Indian concern in pursuance of an agreement made by it with Indian concern after 31/03/1961 but before 01/04/1976

50% of Royalty Received

·         Fee for rendering Technical services in pursuance of an agreement made by it after 29/02/1964 but before 01/04/1976 and where such agreement has, in either case, been approved by the C.G


50% of Fee Received

·         Other income (Otherthan Royalty & Rechnical Fee)
40% of Total Income Earned (Flat)
 






* Marginal Relief: Incase of company  having a net income exceeds 1 Cr the amount payable as income tax and surcharge shall not exceeds total amount payable as income tax on total income of Rs 1Cr by more than the amount  of income  that exceeds Rs.1 Cr

**Marginal Relief:In case company having a net income of Exceeding 10 Cr,the amount payable as Income tax and surcharge shall not exceed the total amount payable as income  tax and surcharge on total income of Rs.10 Cr by more than the amount of income that exceeds 10 Cr.
 



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