Total income this year: This figure shows whole year’s income from all sources combined.
Income Tax Slabs for the Individual Male (Below 60 Years Age) for the AY 2013-2014
Sl No. | Income Tax Slab | Income Tax Rate Payable |
1. | Rs. 0 to 200,000 | No Income Tax |
2. | Rs. 200,001 to 500,000 | 10% of exceeding 2L |
3. | Rs. 500,001 to 1,000,000 | 30000[10% * (5L-2L)] + 20% of exceeding 5L |
4. | Rs. 1,000,001 and above | 30000 + 100000 [20%*(1C-5L)] + 30% of exceeding 1C |
Income Tax Slabs for the Individual Female (Below 60 Years Age) for the AY 2013-2014
Sl No. | Income Tax Slab | Income Tax Rate Payable |
1. | Rs. 0 to 200,000 | No Income Tax |
2. | Rs. 200,001 to 500,000 | 10% of exceeding 2L |
3. | Rs. 500,001 to 1,000,000 | 30000[10% * (5L-2L)] + 20% of exceeding 5L |
4. | Rs. 1,000,001 and above | 30000 + 100000 [20%*(1C-5L)] + 30% of exceeding 1C |
Income Tax Slabs for the Senior Citizen (60 to 80 Years Age) for the AY 2013-2014
Sl No. | Income Tax Slab | Income Tax Rate Payable |
1. | Rs. 0 to 500,000 | No Income Tax |
3. | Rs. 500,001 to 1,000,000 | 20% of exceeding 5L |
4. | Rs. 1,000,001 and above | 100000[20%*(1C-5L)] + 30% of exceeding 1C |
- Exemption limit is now rose to Rs 2 lakhs from Rs 1.8 lakhs. 30% slab now starts from 10 lakh rather than 8 lakh earlier. Men and women now have same tax slab. No gender difference
- Senior citizens not having income from business proposed to be exempted from payment of advance tax.
- 80CCF is not applicable for the financial year 2012-2013
1 Comment
Thanks for sharing good post about Income Tax Slab. Income Tax slab is helpful for tax saving because it gives an idea to person that how much income would be deducted with different income tax rate. Check the new Income Tax Slab for the current year 2013-2014.