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Income Tax Slabs for Assessment Year 2014-15

Sunday, March 3, 2013 | comments

Income Tax Slabs for the Financial Year 2013-14 or Assessment Year 2014-15

Up to Rs. 2,00,000                                                  Nil;
Rs. 2,00,001 to Rs. 5,00,000                         10 per cent.
Rs. 5,00,001 to Rs. 10,00,000                       20 per cent.
Above Rs.10,00,000                                      30 per cent.

(ii)  In the case of every individual, being a resident in India, who is of the age of sixty years or more but less than the age of eighty years at any time during the previous year:—
Up to Rs. 2,50,000                                                  Nil;
Rs. 2,50,001 to Rs. 5,00,000                         10 per cent.
Rs. 5,00,001 to Rs. 10,00,000                       20 per cent.
Above Rs. 10,00,000                                     30 per cent.

(iii) In the case of every individual, being a resident in India, who is of the age of eighty years or more at any time during the previous year:—
Up to Rs. 5,00,000                                                  Nil;
Rs. 5,00,001 to Rs. 10,00,000                       20 per cent.
Above Rs. 10,00,000                                     30 per cent.
The surcharge in cases of persons referred to in this paragraph, having income above one crore rupees shall be levied at the rate of ten per cent. Marginal relief will be provided.

           As already defined that a rebate of Rs. 2000/- of Income Tax will be provided under section 87A which is detailed here (click here to know more)

To Check Previous Years Income  Tax Slabs (Click Here)
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