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Rate of Income Tax For "Individuals" (Males and Females both below the age of 60 years), HUFs, AOPs, BOls

For A.Y. 2014-2015

Income Slab

Rates of income tax

(1)

where the total income does not exceed Rs. 2,00,000

Nil;

(2)

where the total income exceeds Rs. 2,00,000 but does not exceed Rs. 5,00,000 

10% of the amount by which the total income exceeds Rs. 2,00,000;

(3)

where the total income exceeds Rs. 5,00,000 but does not exceed Rs. 10,00,000

Rs. 30,000 plus 20%  of the amount by which the total income exceeds Rs. 5,00,000;

(4)

where the total income exceeds Rs. 10,00,000

Ps. 1,30,000 plus 30% of the amount by which the total income exceeds Rs. 10,00,000

 

Important Note : For F. Y. -2013-2014 (A. Y .2014-2015), Tax Rebate of 2000 for individuals having total income upto 5 Lakh. This credit will not be available to HUF, AOP, BOl, etc

For A.Y. 2015-2016

 

Income Slab

Rates of income tax -

(1)

where the total income does not exceed Rs. 2,50,000

Nil;

(2)

where the total income exceeds Rs. 2,50,000 but does not exceed Rs. 5,00,000

10% of the amount by which the total income exceeds Rs. 2,50,000;

(3)

where the total income exceeds Rs. 5,00,000 but does not exceed Rs. 10,00,000

Rs. 25,000 plus 20% of the amount by which income exceeds Rs. 5,00,000;

(4)

where the total income exceeds Rs. 10,00,000

Rs. 1,25,000 plus 30% of the amount by which the total income exceeds Rs. 10,00,000.

 

 

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