07 January 2014
The Income Tax rates that are prescribed in the Finance Act, 2013 will be applicable to CA IPCC and Final Examinations that are to be conducted in May 2014.
Same rates will also apply to CWA Foundation, Inter and Final and also , CMA, CS Executive and Professional Exams to be conducted in June 2014.
From this year, A rebate of Rs.2,000 from tax calculated will be available for people having an annual income upto Rs.5 Lakh. Thus we can say that tax payable in 10% slab will be maximum Rs.28,000 (taking into account Rs.2,000 tax credit).
Surcharge of 10% will be payable if income is above Rs.1 Crore
Income Range
Men and Women (Below 60 Years of Age)
Senior Citizens (Men and Women above 60 years of age) but below 80 years
Super Senior Citizens ( Men and Women above 80 Years of Age Upto Rs.2,00,000/-
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