Tax Rates A.Y. 2013-14

Direct Tax Rates

Tax Rates for A.Y. 2013-14

For A.Y. 2011-12, Click here	For Tax Computation, Click here
For A.Y. 2012-13, Click here
	For Auto Computation of Total Income & Tax, Click here

Income Tax Rates for Individual & HUF

Computation of Total income of ............. for the A.Y. 2013-14

Particulars	Amount
Salaries	***
Income from house property	***
Profits and gains of business or profession	***
Capital gains	***
Income from other sources	***
Gross Total Income	****
Less : Deductions u/s 80C to 80U (subject to maximum of GTI before casual income, STCG covered u/s 111A # & LTCG)	****
Total Income / Taxable Income (Rounded off u/s 288A)	****

Computation of tax liability of ....... for the A.Y. 2013-14

Particulars	Rate	Details	Amount
Total Income other than STCG covered u/s 111A # , LTCG and casual income
Up to Rs.200000##	Nil	Nil
Add : From Rs.200001 to Rs.500000	10%	****
Add : From Rs.500001 to Rs.800000	20%	****
Add : Above Rs.800000	30%	****
		****
Add : Tax on casual income	30%	****	XYZ
Add : Tax on LTCG	20%		***
Add : Tax on STCG covered u/s 111A #	15%		***
Total tax liability before cess			PQR
Add : Education cess & SHEC @ 3%			**
Tax liability after education cess			***
Less : Relief u/s 86, 89, 90 & 91			**
Tax liability			***
Less : Advance Tax		***
Less : Tax Deducted / Collected at Source		***
Less : Any other prepaid tax		***	***
Tax Payable ( if + ve) or Refundable ( if - ve) (Rounded of u/s 288B)			***

Whereas adjusted total income (as calculated u/s 115JC) of the assessee exceeds Rs.20 lakh, the above tax-liability is subject to Alternate Minimum Tax.
# Short term capital gain arising on transfer of equity shares or units of equity oriented fund which is chargeable to securities transaction tax.
## In case of Very Senior Citizen (age above 80 years), nil rate is applicable upto income of Rs.500000, in case of Senior Citizen (age between 60 and 80 years), Nil rate is applicable upto income of Rs.2,50,000 whereas, in case of other individual, nil rate is applicable upto income of Rs.1,90,000. For Further details click here.

Partnership Firm & Limited Liability Partnership (LLP)

Particulars	Rate	Details	Amount
Tax on casual income	30%		***
Tax on LTCG	20%		***
Tax on STCG covered u/s 111A	15%		***
Other Income	30%		***
Total tax liability before cess			*******
Add : Education cess & SHEC @ 3%			**
Tax liability after education cess			***
Less : Relief u/s 86, 89, 90 & 91			**
Tax liability			***
Less : Advance Tax		***
Less : Tax Deducted / Collected at Source		***
Less : Any other prepaid tax		***	***
Tax Payable ( if + ve) or Refundable ( if - ve) (Rounded of u/s 288B)			***

The aforesaid tax-liability is subject to Alternate Minimum Tax u/s 115JC

Company

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Particulars	Rate	Details	Amount
Tax on casual income	30%		***
Tax on LTCG	20%		***
Tax on STCG covered u/s 111A	15%		***
Other Income	30%/40%*		***
Tax Liability [A]			*******
18.5% of Book Profit u/s 115JB [B]			*******
Tax liability before surcharge and cess [Being Higher of A and B]			*******
Add: Surcharge (If total income** exceeds Rs.1 Crore)	5%/2%*		*******
Tax liability after surcharge but before cess			*******
Less: Marginal Relief (if any)			*******
			***
Add : Education cess & SHEC @ 3%			**
Tax liability after education cess			***
Less : Relief u/s 86, 89, 90 & 91			**
Tax liability			***
Less : Advance Tax		***
Less: MAT Credit		***
Less : Tax Deducted / Collected at Source		***
Less : Any other prepaid tax		***	***
Tax Payable ( if + ve) or Refundable ( if - ve) (Rounded of u/s 288B)			***

* in case of foreign company

** If tax is paid on book profit (i.e, when 'B' is higher), book profit shall be considered as total income

In case of foreign company, concessional tax rates are applicable on certain income. Click here

Co-operative Society

A co-operative society is liable to pay tax at the following rate:

Income	Rate of Tax
Rs.10000	10%
Next Rs.10000	20%
Balance income	30%

Tax is further enhanced by education cess & SHEC @ 3%.

Local Authority

Tax rate " 30% (plus education cess & SHEC @ 3%). No surcharge shall be levied.

Direct Tax Rates

Total tax liability before cess

PQR

Total tax liability before cess

*******

Tax Liability [A]

*******