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  • Income Tax Slab

Income Tax Rate Slab(FY 2013-14)

Resident Super Senior Citizen

(WHO is 80 years or more on the last day of the previous year)

Any other individual/HUF/AOP/BOI/Artificial Juridical Person
Net Income Range Income-tax Rate Net Income Range Income-tax Rate
Up to Rs. 5,00,000 Nil Up to Rs. 2,00,000 Nil
Rs. 5,00,000 - Rs. 10,00,000 20% of (Total income Minus Rs. 5,00,000)* Rs. 2,00,000 - Rs. 5,00,000 10% of (Total income minus Rs. 2,00,000)*
Above Rs. 10,00,000 Rs. 1,00,000+30% of (Total income minus Rs. 10,00,000)* Rs. 5,00,000 - Rs. 10,00,000 Rs. 30,000+20% of (Total income minus Rs. 5,00,000)*
  Above Rs. 10,00,000 Rs. 1,30,000+30% of (Total income minus Rs. 10,00,000)*
If income of an individual does not exceeds Rs. 5,00,000 a rebate of Rs. 2,000 in income Tax will be allowed.
 
Resident Senior Citizen(WHO is 60 years or more at any time during the previous year but more than 80 years) FIRMS
Net Income Range Income-tax Rate A firm taxable at the rate of 30 per cent*
Up to Rs. 2,50,000 Nil
Rs. 2,50,000 - Rs. 5,00,000 10% of (Total income minus Rs. 2,50,000)*
Rs. 5,00,000 - Rs. 10,00,000 Rs. 25,000+20% of (Total income minus Rs. 5,00,000)*
Above Rs. 10,00,000 Rs. 1,25,000+30% of (Total income minus Rs. 10,00,000)*
 
*Plus Education Cess and Secondary and Higher Education Cess @3% of income-tax. * Surcharge @10% will be levied in the case of every individual or HUF, AOP, BOI, Artificial juridical person and Firm in if the income exceeds Rs. 1 Crore.
* Plus Education Cess and Secondary and Higher Education Cess @3% of income-tax.