INCOME TAX RATES Financial year 2013-14 Assessment year 2014-15

TAX RATES

* Financial year 2013-14
* Assessment year 2014-15


1) Male/ Female (Individual)

 Zero to 2 Lac   =  Nil
 2 Lac to 5 Lac  =  10%
 5 Lac to 10 Lac =  20%
 10 Lac - Above  =  30%

2) Senior Citizen (Above 60 age)
 
 Zero to 2.5 Lac  =  Nil
 2.5 Lac to 5 Lac =  10%
 5 Lac to 10 Lac  =  20%
 10 Lac - Above   =  30%

3) Super Senior Citizen (Above 80 age)

 Zero to 5 Lac    =  Nil
 5 Lac to 10 Lac  =  20%
 10 Lac - Above   =  30%


In addition to above TAX, there is an additional levy of 2% Education Cess and 1% Secondary and Higher Education Cess.


PLEASE NOTE : If income is above Rs. 1,00,00,000 then Surcharge of 10% will be charged on calculated Income Tax