Income Tax Slabs and Rates for F.Y. 2013-14 (A.Y. 2014-15) - Amazing Maharashtra

Income Tax Slabs and Rates for F.Y. 2013-14 (A.Y. 2014-15)

Income Tax Slabs Tax Percentage
   Age Below
    60 Years   
Tax Percentage
     Age above
    60 Years
    and below
     80 Years   
Tax Percentage
   Age above
    80 Years   
Income upto Rs.2,00,000/- Nil Nil Nil
Income range Rs.2,00,001/- to Rs.2,50,000/- 10 Nil Nil
Income range Rs.2,50,001/- to Rs.5,00,000/- 10 10 Nil
Income range Rs.5,00,001/- to Rs.10,00,000/- 20 20 20
Income above Rs.10,00,000/- 30 30 30

• Basic Income Tax exemption limit retained at Rs.2,00,000/- in case of Individuals (for both Male & Female), HUF's & AOP.
• A person whose Income is below Rs.5,00,000/- will get a tax credit of Rs.2,000/- under newly inserted [section 87 A] in Income Tax Act.
• Surcharge @ 10% if total income exceeds Rs.1 crore.

Some numbers will help us better recognise the impact of Tax Credit

Your Total IncomeTaxNew TaxSaving

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