PLEASE CLICK HERE FOR LATEST PERSONAL INCOME TAX RATES
Income Tax Rates applicable for Individuals, Hindu Undivided Family (HUF), Association of Persons (AOP) and Body of Individuals (BOI) in India is as under:
Assessment Year 2013-14, Relevant to Financial Year 2012-13
For Individuals below 60 years age (including Woman Assessees):
|
Income
|
Tax Rate
|
|
Upto 200,000
|
Nil
|
|
200,000 to 500,000
|
10% of the amount exceeding 200,000
|
|
500,000 to 1,000,000
|
Rs.30,000 + 20% of the amount exceeding 500,000
|
|
1,000,000 & above
|
Rs.130,000 + 30% of the amount exceeding 1,000,000
|
For Individuals aged 60 years and above but below 80 years (Senior Citizen):
|
Income
|
Tax Rate
|
|
Upto 250,000
|
Nil
|
|
250,000 to 500,000
|
10% of the amount exceeding 250,000
|
|
500,000 to 1,000,000
|
Rs.25,000 + 20% of the amount exceeding 500,000
|
|
1,000,000 & above
|
Rs.125,000 + 30% of the amount exceeding 1,000,000
|
For Individuals aged 80 years and above (Very Senior Citizen):
|
Income
|
Tax Rate
|
|
Upto 500,000
|
Nil
|
|
500,000 to 1,000,000
|
20% of the amount exceeding 500,000
|
|
1,000,000 & above
|
Rs.100,000 + 30% of the amount exceeding 1,000,000
|
Surcharge on Income Tax: Nil
Education Cess: 3% of Income Tax plus Surcharge
pl write about the AOP or BOI Income tax rates in details.
How to calculate the Individual income and the income from BOI or AOP?
What is the Income tax form to be filled?