What was income tax in 2013?
What was income tax in 2013?
Income tax rates for AY 2013-14/ FY 2012-13
| Total Income | Tax Rates |
|---|---|
| Upto Rs. 200,000* | Nil |
| 200,001 to 500,000 | 10% |
| 500,001 to 10,00,000 | 20% |
| Above Rs. 10,00,000 | 30% |
How much is surcharge and education cess on income tax?
Surcharge : Surcharge is levied @ 12% on the amount of income-tax where net income exceeds Rs. 1 crore. In a case where surcharge is levied, health and education cess of 4% will be levied on the amount of income-tax plus surcharge.
What is the income tax slab for AY 2017 18?
| INCOME SLABS | INCOME TAX RATES |
|---|---|
| Upto Rs.2,50,000 | NIL |
| Rs. 2,50,000 to 5,00,000 | 10% of the amount exceeding Rs. 2,50,000 Less: Tax Credit – 100% of income-tax or Rs. 5,000/-, whichever is less *. |
| Rs. 5,00,000 to 10,00,000 | Rs. 25,000 + 20% of the amount exceeding Rs. 5,00,000 |
What is the assessment year 2013 14?
Income Tax Slab & Deductions FY 2013-14
| For Men below 60 years of age | For Senior Citizens (Age 60 years or more but less than 80 years) | |
|---|---|---|
| Income Level | Tax Rate | Income Level |
| Rs. 2,00,000 | Nil | Upto Rs. 2,50,000 |
| Rs. 2,00,001 – Rs. 500,000 | 10% | Rs. 2,50,001 – Rs. 500,000 |
| Rs. 500,001 – Rs. 10,00,000 | 20% | Rs. 500,001 – Rs. 10,00,000 |
What is the income tax slab for 2020 21?
Income tax slab rate FY 2020-21 (AY 2021-22) – Applicable for New Tax regime
| Income Tax Slab | New Regime Income Tax Slab Rates FY 2020-21 (Applicable for All Individuals & HUF) |
|---|---|
| Rs. 5.00 lakhs- Rs 7.5 Lakhs | 10% |
| Rs 7.5 lakhs – Rs 10.00 Lakhs | 15% |
| Rs 10.00 lakhs – Rs. 12.50 Lakhs | 20% |
| Rs. 12.5 lakhs- Rs. 15.00 Lakhs | 25% |
What is the income tax slab for FY 2016-17?
| INCOME SLABS | INCOME TAX RATES |
|---|---|
| Upto Rs. 3,00,000 | NIL |
| Rs. 3,00,000 to 5,00,000 | 10% of the amount exceeding Rs.3,00,000 |
| Rs. 5,00,000 to 10,00,000 | Rs. 20,000 + 20% of the amount exceeding Rs. 5,00,000 |
| Rs. 10,00,000 & above | Rs. 1,20,000 + 30% of the amount exceeding Rs. 10,00,000 |
What is the tax slab for FY 2016-17?
For Individuals Below 60 Years Of Age
| Income Level | Tax Rate |
|---|---|
| Rs. 2,50,000 | Nil |
| Rs. 2,50,001 – Rs. 500,000 | 10% |
| Rs. 500,001 – Rs. 10,00,000 | 20% |
| Above Rs. 10,00,000 | 30% |
What is new tax slab?
New tax regime slab rates are not differentiated based on age group….Income Tax Slabs & Rates 2020-2021.
| Income Tax Slab | Tax rates as per new regime | Tax rates as per old regime |
|---|---|---|
| ₹0 – ₹2,50,000 | Nil | Nil |
| ₹2,50,001 – ₹ 5,00,000 | 5% | 5% |
| ₹5,00,001 – ₹ 7,50,000 | ₹12500 + 10% of total income exceeding ₹5,00,000 | ₹12500 + 20% of total income exceeding ₹5,00,000 |
What are the income tax slab rates in India for 2013-14?
There are 3 tax slabs of 10%, 20% and 30% in India. Please see the below given table, giving details of Income Tax slab rates in India for the Financial Year 2013-14. For Senior Citizens aged 60, but below 80, there is no tax up to an income of Rs. 2.5 Lakhs. For them, the Income Tax slab rates for FY 2013-14 will be as given below:
Is there any benefit in income tax slab for FY14-15?
In income Tax Slab for ay 14-15 / fy 13-14, basic tax exemption limits are the same. The only benefit this financial year is there is a tax credit of Rs 2000 for people having an annual income up to RS 5 Lakh. There is no other benefit as compared to previous financial year
What is the income tax slab for senior citizens in India?
For very Senior Citizens aged 80 and above, there is no tax up to an income of Rs. 5 Lakhs. The Income Tax slab rates for them for the FY 2013-14 will be as given below: In addition to the tax as per the above Income Tax slab rates, you have to pay 3% of the tax as education cess.
What is tax credit of Rs 2000 for 2013-14?
For the Financial Year 2013-14, there is a tax credit of Rs. 2,000, if your income is up to Rs. 5 Lakhs. But you have to pay a surcharge of 10%, if your income is above Rs. 1 Crore. Tax Credit of Rs. 2,000. What is it?
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