Which is the tax slab for FY 2013-14?
Older Income tax rates applicable for the financial year (FY) 2012-13 and assessment year (AY) 2013-14 are mentioned below: For normal category the simple calculation is as follows Taxable Income in 10% slab maximum tax will be Rs 30000 Taxable Income in 20% slab maximum tax will be Rs 30000 + Rs 1,00,000 total Rs 1,30,000
How is income tax calculated for AY 2013-14?
Income Tax : 30% of taxable income.Calculate Tax Liability for AY 2013-14 Education Cess : 3% of the Income Tax. Income Tax : 30% of taxable income.Calculate Tax Liability for AY 2013-14 Education Cess : 3% of the Income Tax. Income Tax : 30% of taxable income.Calculate Tax Liability for AY 2013-14
Which is the income tax slab for 2013-14 in India?
Please click on the links below to view the Income Tax (also written shortly as I. tax or Inc. tax) Slabs and Rates for the Assessment Year 2013-14 (applicable on income earned during 01.04
How is education cess calculated for AY 2013-14?
Education Cess : 3% of the Income Tax. Individual resident who is of the age of 60 years or more but below the age of 80 years at any time during the previous year (i.e. born on or after 1st April 1933 but before 1st April 1953) Income Tax :Calculate Tax Liability for AY 2013-14
What are the income tax slab rates in India?
With a very high level of consumer inflation, tax payers are disappointed over the recent Budget. Income Tax is calculated on a slab system. There are 3 tax slabs of 10%, 20% and 30% in India. Please see the below given table, giving details of Income Tax slab rates in India for the Financial Year 2013-14.
Where is the tax rate specified in the tax bill?
In the case of firms, the rate of income-tax has been specified in Paragraph C of Part III of the First Schedule to the Bill. This rate will continue to be the same as that specified for financial year 2012-1 3.
How are salaries classified in the Income Tax Act?
Section 14 of the Income- tax Act further provides that for the purpose of charge of income tax and computation of total income all income shall be classified under the following heads of income: A. Salaries B. Income from house property C. Profits and gains of business or profession.