Tax rate for ay 14-15

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MALAY DAS (Querist)
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22 September 2014 dear sir
what are exemption limit of taxable income
its 2 lakh or 2.5 lakh in case of age 0 to 60yrs. for ay 2014-15. thanks.......

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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22 September 2014 it is 2 lkahs only for AY 14-15 and from AY 15-16 it changes to 2.5 lakhs

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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22 September 2014 Additionally also refer section 87A for rebate.

U/ S 87A an assessee, being an individual resident in India, whose total income does not exceed five hundred thousand rupees, shall be entitled to a deduction, from the amount of income-tax (as computed before allowing the deductions under this Chapter) on his total income with which he is chargeable for any assessment year, of an amount equal to hundred per cent of such income-tax or an amount of two thousand rupees, whichever is less."

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