Finotax  Utility  Toolbar
Download & InstallKnow more

Income Tax Slabs & Rates
for Assessment Year 2013-14


Please click on the links below to view the Income Tax (also written shortly as I. tax or Inc. tax) Slabs and Rates for the Current Assessment Year 2013-14 (applicable on income earned during 01.04.2012 to 31.03.2013) for various categories of Indian Income Tax payers.

Please send us your suggestions / feedback to enable us to make this page more user-friendly and useful.

Individual resident (Age below 60 Yrs.) or any NRI / HUF / AOP / BOI / AJPFirm
Senior CitizenLocal Authority
Super Senior CitizenDomestic Company
Co-operative SocietyOther Company
  1. Individual resident below 60 years of age (i.e. born on or after 1st April 1953) or any NRI, HUF, AOP, BOI or AJP*

    Income Tax :Calculate Tax Liability for AY 2013-14

    Income SlabsTax Rates
    i. Where the total income does not exceed Rs. 2,00,000/-. NIL
    ii. Where the total income exceeds Rs. 2,00,000/- but does not exceed Rs. 5,00,000/-. 10% of amount by which the total income exceeds Rs. 2,00,000/-
    iii. Where the total income exceeds Rs. 5,00,000/- but does not exceed Rs. 10,00,000/-. Rs. 30,000/- + 20% of the amount by which the total income exceeds Rs. 5,00,000/-.
    iv. Where the total income exceeds Rs. 10,00,000/-. Rs. 130,000/- + 30% of the amount by which the total income exceeds Rs. 10,00,000/-.

    Surcharge : Nil

    Education Cess : 3% of the Income Tax.

    * Abbreviations used :
       NRI - Non Resident Individual; HUF - Hindu Undivided Family; AOP - Association of Persons; BOI - Body of Individuals; AJP - Artificial Judicial Person

  2. Individual resident who is of the age of 60 years or more but below the age of 80 years at any time during the previous year (i.e. born on or after 1st April 1933 but before 1st April 1953)

    Income Tax :Calculate Tax Liability for AY 2013-14

    Income SlabsTax Rates
    i. Where the total income does not exceed Rs. 2,50,000/-. NIL
    ii. 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/-.
    iii. Where the total income exceeds Rs. 5,00,000/- but does not exceed Rs. 10,00,000/- Rs. 25,000/- + 20% of the amount by which the total income exceeds Rs. 5,00,000/-.
    iv. Where the total income exceeds Rs. 10,00,000/- Rs. 125,000/- + 30% of the amount by which the total income exceeds Rs. 10,00,000/-.

    Surcharge : Nil

    Education Cess : 3% of the Income Tax.

  3. Individual resident who is of the age of 80 years or more at any time during the previous year (i.e. born before 1st April 1933)

    Income Tax :Calculate Tax Liability for AY 2013-14

    Income SlabsTax Rates
    i. Where the total income does not exceed Rs. 5,00,000/-. NIL
    ii. Where the total income exceeds Rs. 5,00,000/- but does not exceed Rs. 10,00,000/- 20% of the amount by which the total income exceeds Rs. 5,00,000/-.
    iii. Where the total income exceeds Rs. 10,00,000/- Rs. 100,000/- + 30% of the amount by which the total income exceeds Rs. 10,00,000/-.

    Surcharge : Nil

    Education Cess : 3% of the Income Tax.

  4. Co-operative Society

    Income Tax :Calculate Tax Liability for AY 2013-14

    Income SlabsTax Rates
    i. Where the total income does not exceed Rs. 10,000/-. 10% of the income.
    ii. Where the total income exceeds Rs. 10,000/- but does not exceed Rs. 20,000/-. Rs. 1,000/- + 20% of income in excess of Rs. 10,000/-.
    iii. Where the total income exceeds Rs. 20,000/- Rs. 3.000/- + 30% of the amount by which the total income exceeds Rs. 20,000/-.

    Surcharge : Nil

    Education Cess : 3% of the Income-tax.

  5. Firm

    Income Tax : 30% of total income.Calculate Tax Liability for AY 2013-14

    Surcharge : Nil

    Education Cess : 3% of the Income Tax.

  6. Local Authority

    Income Tax : 30% of total income.Calculate Tax Liability for AY 2013-14

    Surcharge : Nil

    Education Cess : 3% of the Income Tax.

  7. Domestic Company

    Income Tax : 30% of total income.Calculate Tax Liability for AY 2013-14

    Surcharge : The amount of income tax as computed in accordance with above rates, and after being reduced by the amount of tax rebate shall be increased by a surcharge at the rate of 5% of such income tax, provided that the total income exceeds Rs. 1 crore. (Marginal Relief in Surcharge, if applicable)

    Education Cess : 3% of the total of Income Tax and Surcharge.

  8. Company other than a Domestic Company

    Income Tax :Calculate Tax Liability for AY 2013-14

    • @ 50% of on so much of the total income as consist of (a) royalties received from Government or an Indian concern in pursuance of an agreement made by it with the Government or the Indian concern after the 31st day of March, 1961 but before the 1st day of April, 1976; or (b) fees for rendering technical services received from Government or an Indian concern in pursuance of an agreement made by it with the Government or the Indian concern after the 29th day of February, 1964 but before the 1st day of April, 1976, and where such agreement has, in either case, been approved by the Central Government.
    • @ 40% of the balance

    Surcharge : The amount of income tax as computed in accordance with above rates, and after being reduced by the amount of tax rebate shall be increased by a surcharge at the rate of 2% of such income tax, provided that the total income exceeds Rs. 1 crore. (Marginal Relief in Surcharge, if applicable)

    Education Cess : 3% of the total of Income Tax and Surcharge.

Marginal Relief in Surcharge

When the taxable income of a domestic or other company exceeds Rs. 1 crore, it is liable to pay Surcharge at prescribed rates as mentioned above on Income Tax. However, the amount of Income Tax and Surcharge shall not increase the amount of income tax payable on a taxable income of Rs. 1 crore by more than the amount of increase in taxable income.

Example :

In case of a domestic firm having taxable income of Rs. 1,00,01,000/-

1. Income TaxRs. 30,00,300
2. Surcharge @5% of Income TaxRs. 1,50,015
3. Income Tax on income of Rs. 1 croreRs. 30,00,000
4. Maximum Surcharge payable
(Income over Rs. 1 crore less income tax on income over Rs. 1 crore)
Rs. 700/- (1000 - 300)
5. Income Tax + Surcharge payableRs. 30,01,000
6. Marginal Relief in SurchargeRs. 1,49,315/- (1,50,030 - 700)

Disclaimer :

All efforts are made to keep the content of this site correct and up-to-date. But, this site does not make any claim regarding the information provided on its pages as correct and up-to-date. The contents of this site cannot be treated or interpreted as a statement of law. In case, any loss or damage is caused to any person due to his/her treating or interpreting the contents of this site or any part thereof as correct, complete and up-to-date statement of law out of ignorance or otherwise, this site will not be liable in any manner whatsoever for such loss or damage.