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Rates Of Income Tax

Assessment year : 2013 – 14,
Previous year : 2012 – 13
Assessment year : 2013 – 14,
Previous year : 2012 – 13
1. For resident women below the age of 60 years.. 1. For resident women below the age of 60 years.
Upto Rs. 2,00,000 Nil
Rs. 2,00,001 to Rs. 5,00,000 10%
Rs. 5,00,001 to Rs. 10,00,000 20%
Above Rs. 10,00,000 30%
Upto Rs. 1,90,000 Nil
Rs. 1,90,001 to Rs. 5,00,000 10%
Rs. 5,00,001 to Rs. 8,00,000 20%
Above Rs. 8,00,000 30%
 
2. For resident Senior Citizens. (Age above 60 Years) 2. For resident Senior Citizens. (Age above 60 Years)
Up to Rs 2,50,000 Nil
Rs. 2,50,001 to Rs. 5,00,000 10%
Rs. 5,00,001 to Rs. 10,00,000 20%
Above Rs. 10,00,000 30%
Up to Rs 2,50,000 Nil
Rs. 2,50,001 to Rs. 5,00,000 10%
Rs. 5,00,001 to Rs. 8,00,000 20%
Above Rs. 8,00,000 30%
 
3. For resident Super Senior Citizens. (Age above 80 Years) 3. For resident Super Senior Citizens. (Age above 80 Years)
Up to Rs 5,00,000 Nil
Rs. 5,00,001 to Rs. 10,00,000 20%
Above Rs. 10,00,000 30%
Up to Rs 5,00,000 Nil
Rs. 5,00,001 to Rs. 8,00,000 20%
Above Rs. 8,00,000 30%
 
4. Individuals, [other than those mentioned above, HUF, AOP/BOI (other than co-operative societies). 4. Individuals, [other than those mentioned above, HUF, AOP/BOI (other than co-operative societies).
Upto Rs. 2,00,000 Nil
Rs. 2,00,001 to Rs. 5,00,000 10%
Rs. 5,00,001 to Rs 10,00,000 20%
Above Rs. 10,00,000 30%
Surcharge : NIL

Education Cess : 2% on income-tax plus surcharge.

Secondary and Higher Education cess : 1% on income-tax plus surcharge

Long-Term Capital Gains: 20% on income-tax plus surcharge.
Short-Term Capital Gains u/s 111A:15% on income-tax plus surcharge.

Upto Rs. 1,80,000 Nil
Rs. 1,80,001 to Rs. 5,00,000 10%
Rs. 5,00,001 to Rs 8,00,000 20%
Above Rs. 8,00,000 30%
Surcharge : NIL

Education Cess : 2% on income-tax plus surcharge.

Secondary and Higher Education cess : 1% on income-tax plus surcharge

Long-Term Capital Gains: 20% on income-tax plus surcharge.
Short-Term Capital Gains u/s 111A:15% on income-tax plus surcharge.

 
Firms Firms
Income tax : 30%.

Surcharge : NIL

Education Cess : 2% on income-tax plus surcharge

Secondary and Higher Education cess : 1% on income-tax plus surcharge

Income tax : 30%.

Surcharge : NIL

Education Cess : 2% on income-tax plus surcharge

Secondary and Higher Education cess : 1% on income-tax plus surcharge

 
Companies Companies
(A) Domestic Companies

Income tax : 30%

Surcharge: 5% if the taxable income exceeds Rs. 100,00,000.

Education Cess: 2% on income-tax plus surcharge.

Secondary and Higher Education cess : 1% on income-tax plus surcharge

(B) Foreign Companies

Income Tax : 40% (in general )
50% on royalty or fee for technical services (agreement 1.04.1961 to 31.03.1976.)
   
Surcharge : 2% if the taxable income exceeds Rs. 100,00,000.
   
Education Cess : 2% on income-tax plus surcharge
Secondary and Higher Education 1% on income-tax plus surcharge cess :
(A) Domestic Companies

Income tax : 30%

Surcharge: 5% if the taxable income exceeds Rs. 100,00,000.

Education Cess: 2% on income-tax plus surcharge.

Secondary and Higher Education cess : 1% on income-tax plus surcharge

(B) Foreign Companies

Income Tax : 40% (in general )
50% on royalty or fee for technical services (agreement 1.04.1961 to 31.03.1976.)
   
Surcharge : 2% if the taxable income exceeds Rs. 100,00,000.
   
Education Cess : 2% on income-tax plus surcharge
Secondary and Higher Education 1% on income-tax plus surcharge cess :
 
Cooperative Societies Cooperative Societies
Upto Rs. 10,000 10%
Rs. 10,001 to Rs. 20,000 20%
Rs. 20,001 to Above 30%
Surcharge : Surcharge Is Not Applicable

Education Cess : 2% on income-tax.

Secondary and Higher Education cess : 1% on income-tax plus surcharge

Upto Rs. 10,000 10%
Rs. 10,001 to Rs. 20,000 20%
Rs. 20,001 to Above 30%
Surcharge : Surcharge Is Not Applicable

Education Cess : 2% on income-tax.

Secondary and Higher Education cess : 1% on income-tax plus surcharge

 
Local Authorities Local Authorities
Income Tax : 30%

Surcharge : NIL

Education Cess : 2% on income-tax plus surcharge.

Secondary and Higher Education cess : 1% on income-tax plus surcharge

Income Tax : 30%

Surcharge : NIL

Education Cess : 2% on income-tax plus surcharge.

Secondary and Higher Education cess : 1% on income-tax plus surcharge

Rates Of Income Tax(Assessment year : 2012 – 13, P.Y-2011-12)