Income tax rate Chart for Financial Year 2012-13 / Assessment year 2013-14

A. Tax Rates For Individuals (Men & Women), Hindu Undivided Families, Association of Persons and Body of Individuals

Total Income (Rs.)

Tax Rate (%)

Upto Rs. 200,000* Nil
200,001 to 500,000 10
500,001 to 10,00,000 20
Above Rs. 10,00,000 30
*In the case of a resident individual of sixty years or more but less than eighty years, the basic exemption limit is Rs. 250,000
The category of women below the age of 65 years has been removed.

B. Tax Rates For Senior Citizens (80 Years Or Above)

Total Income (Rs.)

Tax Rate (%)

Upto Rs. 500,000* Nil
500,001 to 10,00,000 20
Above Rs. 10,00,000 30
Surcharge is Nil
Education cess is applicable @ 3% on income tax
Marginal relief may be available.

C. Tax Rates For For Partnership Firms

Tax Rate (%)

Partnership Firms are taxable @ 30%
Surcharge is Nil
Education cess is applicable @ 3% on income tax

D. Tax Rates For Domestic Companies

Tax Rate (%)

Domestic companies are taxable @ 30%
Surcharge is applicable @ 5% if total income is in excess of Rs. 10,000,000
Education cess is applicable @ 3% on income tax (inclusive of surcharge, if any)

E. Tax Rates For Foreign Companies

Tax Rate (%)

Foreign companies are taxable @ 40%
Surcharge is applicable @ 2% if total income is in excess of Rs. 10,000,000
Education cess is applicable @ 3% on income tax (inclusive of surcharge, if any)

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Tags : Income Tax Rates (56) Rate Chart (68)

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