Assessment Year: 2014-2015
Previous Year : 2013-2014
A) In case of Individual (including women) whose age is not more than sixty years.
|
Total income up to 2,00,000 |
Nil |
|
Total income in excess of 2,00,000 up to 5,00,000 |
10 % of the amount in excess of 2,00,000 Less Tax credit (10% of taxable income up to a maximum of Rs. 2,000 for residents) |
|
Total income in excess of 5,00,000 up to 10,00,000 |
20 % of the amount in excess of 5,00,000 + 30000 |
|
Total income in excess of 10,00,000 |
30 % of the amount in excess of 10,00,000 + 130000 |
B) In case of resident individual who is of the age of sixty years or more but not more than the age of eighty years during the previous year.
|
Total income up to 2,50,000 |
Nil |
|
Total income in excess of 2,50,000 up to 5,00,000 |
10 % of the amount in excess of 2,50,000 |
|
Total income in excess of 5,00,000 up to 10,00,000 |
20 % of the amount in excess of 5,00,000 + 25,000 |
|
Total income in excess of 10,00,000 |
30 % of the amount in excess of 10,00,000 + 1,25,000 |
C) In case of individual who is of the age of eighty years or more at any time during the previous year.
|
Total income up to 5,00,000 |
Nil |
|
Total income in excess of 5,00,000 up to 10,00,000 |
20 % of the amount in excess of 5,00,000 |
|
Total income in excess of 10,00,000 |
30 % of the amount in excess of 10,00,000 + 1,00,000 |
Surcharge and Education Cess applicable to above mentioned persons
- Surcharge: 10 % of income tax, where taxable income exceeds Rs 1 crore(Marginal Relief in surcharge may be available)
- Education cess: 3 % of income tax&surcharge,if any