Aop slab rates
This query is : Resolved
03 August 2014
Slab rates are Same as Individual resident below 60 years of age.
For AY 2014-15
1) Where the total income does not exceed Rs. 2,00,000/-. - NIL.
2) Where the total income exceeds Rs. 2,00,000/- but does not exceed Rs. 5,00,000/-. - 10% of amount by which the total income exceeds Rs. 2,00,000/-.
Less ( in case of Resident Individuals only ) : Tax Credit u/s 87A - 10% of taxable income upto a maximum of Rs. 2000/-.
3) Where the total income exceeds Rs. 5,00,000/- but does not exceed Rs. 10,00,000/-. - Rs. 30,000/- + 20% of the amount by which the total income exceeds Rs. 5,00,000/-.
4) Where the total income exceeds Rs. 10,00,000/-. - Rs. 130,000/- + 30% of the amount by which the total income exceeds Rs. 10,00,000/-.
Surcharge : 10% of the Income Tax, where total taxable income is more than Rs. 1 crore.
Education Cess : 3% of the total of Income Tax and Surcharge.
For AY 2014-15
1) Where the total income does not exceed Rs. 2,00,000/-. - NIL.
2) Where the total income exceeds Rs. 2,00,000/- but does not exceed Rs. 5,00,000/-. - 10% of amount by which the total income exceeds Rs. 2,00,000/-.
Less ( in case of Resident Individuals only ) : Tax Credit u/s 87A - 10% of taxable income upto a maximum of Rs. 2000/-.
3) Where the total income exceeds Rs. 5,00,000/- but does not exceed Rs. 10,00,000/-. - Rs. 30,000/- + 20% of the amount by which the total income exceeds Rs. 5,00,000/-.
4) Where the total income exceeds Rs. 10,00,000/-. - Rs. 130,000/- + 30% of the amount by which the total income exceeds Rs. 10,00,000/-.
Surcharge : 10% of the Income Tax, where total taxable income is more than Rs. 1 crore.
Education Cess : 3% of the total of Income Tax and Surcharge.
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