Please click on the links below to view the Income Tax Slabs and Rates for the Assessment Year 2014-15 (applicable on income earned during 01.04.2013 to 31.03.2014) for various categories of Indian Income Tax payers.
Income Tax :
|Income Slabs||Tax Rates|
|i.||Where the taxable income does not exceed ₹ 2,00,000/-.||NIL|
|ii.||Where the taxable income exceeds ₹ 2,00,000/- but does not exceed ₹ 5,00,000/-.||10% of amount by which the taxable income exceeds ₹ 2,00,000/-. |
Less (in case of Resident Individuals only) : Tax Credit u/s 87A - 10% of taxable income upto a maximum of ₹ 2000/-.
|iii.||Where the taxable income exceeds ₹ 5,00,000/- but does not exceed ₹ 10,00,000/-.||₹ 30,000/- + 20% of the amount by which the taxable income exceeds ₹ 5,00,000/-.|
|iv.||Where the taxable income exceeds ₹ 10,00,000/-.||₹ 130,000/- + 30% of the amount by which the taxable income exceeds ₹ 10,00,000/-.|
Surcharge : 10% of the Income Tax, where taxable income is more than ₹ 1 crore. (Marginal Relief in Surcharge, if applicable)
Education Cess : 3% of the total of Income Tax and Surcharge.