Here are the slabs for the income tax for the income incurring in FY 2013-2014. The assessment year for these slabs is 2014-2015.
Income tax slabs for General tax payers
| Yearly Income | Tax Rate |
|---|---|
| Rs. 0 to 2,00,000 | No Tax (0 %) |
| Rs. 2,00,001 to 5,00,000 | 10% |
| Rs. 5,00,001 to 10,00,000 | 20% |
| Above Rs. 10,00,000 | 30% |
Income tax slabs for Women
| Yearly Income | Tax Rate |
|---|---|
| Rs. 0 to 2,00,000 | No Tax (0 %) |
| Rs. 2,00,001 to 5,00,000 | 10% |
| Rs. 5,00,001 to 10,00,000 | 20% |
| Above Rs. 10,00,000 | 30% |
Income tax slabs for Senior citizen (60+ years but less than 80 years)
| Yearly Income | Tax Rate |
|---|---|
| Rs. 0 to 2,50,000 | No Tax (0 %) |
| Rs. 2,50,001 to 5,00,000 | 10% |
| Rs. 5,00,001 to 10,00,000 | 20% |
| Above Rs. 10,00,000 | 30% |
Income tax slabs for Senior citizen (80+ years)
| Yearly Income | Tax Rate |
|---|---|
| Rs. 0 to 5,00,000 | No Tax (0 %) |
| Rs. 5,00,001 to 10,00,000 | 10% |
| Above 10,00,000 | 30% |
NOTE: Education Cess: 3% of the Income-tax for all.
In addition
- A rebate of Rs 2000 will be available for income less than Rs 5 lakhs.
- There is a surcharge of 10 per cent on persons whose taxable income exceed Rs. 1 crore per year. This will apply to individuals, HUFs, firms and entities with similar tax status.
Tags: Assessment Year 2014-2015, Financial Year 2013-2014, Income Tax Slabs, Latest income tax slabs
Rebate of Rs.2K is on Tax payable?
mr sandeep darge
yes 2000 is rebate if ur income is less than 5 lakhs it is deducted from ur tax payable amount if ur tax liability is 30000 u will get the 2000 rebate ( 30000-2000 ) ur tax liability is 28000 k
what is section for exemption.
If income is less than 5 lakhs, Rs.2000 will be deducted at Tax. What income is less than 5 lakhs – whether the taxable income or Gross Salary income
Rs 2000 will be deducted at tax what income taxable or gross
what is norms for tution fee limits for state government salaried employes for incometax excemption
Initial range is too less,it may be atleast 5,000,00.00
My gross income is 621000 and investment is 1 lack,
how to calculate income tax?
what income is less than 5 lakhs?- whether the taxable income or gross salary income for rebate rs 2000.
my gross salary is 547000- and my taxablie income is 447000- calculate my total tax
mad
please mail the details of tax deduction split up in 2013-2014 for general and women respectively