INCOME TAX SLAB RATE FOR A.Y.2014-15 (F.Y.2013-14)

THE NEW AND REVISED INCOME TAX RATES APPLICABLE FOR FINANCIAL YEAR(FY) 2013-14 AND ASSESSMENT YEAR (AY) 2014-15 ARE MENTIONED BELOW:


For Individual male,Age less than 60 Years

Up to 200000 : Nil

200001-500000 : 10%

500001-1000000 : 20%

1000001 & above : 30%



For Individual female,Age less 60 years

Up to 200000 : Nil

200001-500000 : 10%

500001-1000000 : 20%

1000001 & above : 30%

For Individual, Age more than 60 Years ( Senior Citizen)

Up to 250000 : Nil

250001-500000 : 10%

500001-1000000 : 20%

1000001 & above : 30%

For Individual ,Age more than 80 Years ( Very Senior Citizen )

Up to 500000 : Nil

500001-1000000 : 20%

1000001 & above : 30%

Further there is no change in education cess-2%
secondary and higher education cess-1%

SURCHARGE APPLICABLE-1% FOR ASSESSEE ERANING MORE THAN 1CR
2000 CREDIT ALLOWED FOR ASSESSEES EARNING 2LAKH TO 5 LAKHS