Income Tax Slabs and Rate Chart for AY 2013-14 FY 2012-13

For 2012 – 2013, the basic exemption limit is Rs.2,00,000 for both men and women who are less than 60 years. The rates of tax and level of total income are as under –

Income Tax Slabs for Individual, HUF, AOP and BOI

Income Tax Rates for Co-operative Societies

Income Tax Rate for Partnership Firms. LLP and Local Authority

Income Tax Rate for Domestic Companies

Income Tax Rates for Companies other than Domestic Companies

Income tax slabs for F.y. 2012-2013 and A.y. 2013-2014

Individual/HUF/AOP/BOI Women Senior Citizen * Super Senior Citizen * Rate
Upto Rs.2,00,000 Upto Rs.2,00,000 Upto Rs.2,50,000 Upto Rs.500,000 No Tax
Rs.2,00,001 – 5,00,000 Rs.2,00,001 – 5,00,000 Rs.2,50,001 – 5,00,000 Not Applicable 10%
Rs.5,00,001 – 10,00,000 Rs.5,00,001 – 10,00,000 Rs.5,00,001 – 10,00,000 Rs.5,00,001 – 10,00,000 20%
Above 10,00,000 Above 10,00,000 Above 10,00,000 Above 10,00,000 30%
Educational Cess is Payable at 3% on Tax Calculated. No Surcharge is payable.

Income Tax Rates for Co-operative Societies

A Where the total income does not exceed Rs. 10,000. 10%
B Where the total income exceeds Rs. 10,000 but does not exceed Rs. 20,000. 20%
C

Where the total income exceeds Rs. 20,000.

30%

Income Tax Rates for Partnership Firms, LLP’s and Local Authority

A Income Tax at 30% of total income.
B Surcharge is not applicable.
C

Educational Cess is payable at 3% of the total of Income Tax.

Income Tax Rate for Domestic Companies

A Income Tax at 30% of total income.
B Surcharge at 5% if total Income Exceeds Rs. 1 Crore.
C

Educational Cess is payable at 3% of the total of Income Tax.

Income Tax Rate for Foreign Companies

A 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.
B 40% of the balance
C 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.
D

Educational Cess is payable at 3% of the total of Income Tax.


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