Thursday, February 28, 2013

Income Tax Rates FY 2013-14 - India New IT Slab Rate - Budget Feb 28-2-2013 - AY 2014-15 - Naya Aayakar

No Change in Tax slab or rates. Income Tax Rates and Slabs for the Financial Year 2013 - 2014 (FY 13-14) and Assessment Year 2014-2015 (AY 14-15) is given below.

- Surcharge of 10% for 'Super Rich' income over Rs. 1 crore
- Tax credit for those in Rs. 2 to Rs. 5 lakh bracket - Maximum of Rs 2,000 Tax Credit Relief i.e., tax credit can be availed for Rs. 2 lakh to Rs. 2.20 lakhs


Men

Man, Gents, Individual, Hindu undivided family (HUF), association of persons, body of individuals, artificial juridical person, General
- Income upto Rs. 2 lakhs - Nil
- Income from Rs. 2,00,001 to Rs. 5 lakhs  - 10% Tax (10 per cent )
- Income from Rs. 5,00,001 and Rs. 10 lakhs - 20% Tax (20 per cent)
- Income above Rs. 10 lakhs - 30% Tax (30 per cent )

Women

Woman, Female, Ladies
- Income upto Rs. 2 lakhs - Nil
- Income from Rs. 2,00,001 to Rs. 5 lakhs  - 10% Tax (10 per cent )
- Income from Rs. 5,00,001 and Rs. 10 lakhs - 20% Tax (20 per cent)
- Income above Rs. 10 lakhs - 30% Tax (30 per cent )

Senior Citzens (Age- 60-79 Years)

- Income upto Rs. 2.5 lakhs - Nil
- Income from Rs. 2,50,001 to Rs. 5 lakhs  - 10% Tax (10 per cent )
- Income from Rs. 5,00,001 and Rs. 10 lakhs - 20% Tax (20 per cent)
- Income above Rs. 10 lakhs - 30% Tax (30 per cent)


Very Senior Citzens (Age- 80+ Years)

- Income upto Rs. 5 lakhs - Nil
- Income from Rs. 5,00,001 and Rs. 10 lakhs - 20% Tax (20 per cent)
- Income above Rs. 10 lakhs - 30% Tax (30 per cent)


Exemption on Income Tax

- Rs. 10,000 interest on Salary Account
- Rs 5,000 preventive health check up

Additional Educational Cess of 3% to be paid on income tax (2% for Education, 1% for Secondary, Higher education). Surcharge for companies


The Union General Aam Budget was presented by Finance Minister P Chidambaram in Lok Sabha today February 28, 2013 (Thursday)


Tags: Naya Aayakar - Varumana Vari - Avaka Kara - Adaya Pannu - Ayakara - Varamana Terige

1 comment:

jashn samra said...

I was looking for the Income Tax Slab which gives me information about my taxable income. Thanks to this post which present Income Tax Slab of current year.

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