Income Tax Slabs & Rates in India: FY 2013-14, AY 2014-15
This page sets out the income tax slabs, tax rates, surcharge and education cess applicable for Financial Year 2013-14 and Assessment Year 2014-15 for individuals, HUFs, AOP/BOI, co-operative societies, partnership firms, local authorities and companies.
Historical tax-year reference: The information below relates specifically to FY 2013-14 and AY 2014-15 and is retained as a historical reference.
Individuals Below 60 Years and Hindu Undivided Family (HUF)
| Income slab | Rate of income tax FY 2013-14 |
|---|---|
| Total income less than ₹2,00,000 | Nil |
| Total income exceeds ₹2,00,000 but does not exceed ₹5,00,000 | 10% of the amount exceeding ₹2,00,000. Tax credit up to ₹2,000 as stated in the original page. |
| Total income exceeds ₹5,00,000 but does not exceed ₹10,00,000 | ₹30,000 + 20% of the amount exceeding ₹5,00,000 |
| Total income exceeds ₹10,00,000 | ₹1,30,000 + 30% of the amount exceeding ₹10,00,000 |
Surcharge: 10% of income tax where taxable income exceeds ₹1 crore.
Education Cess: 3% of income tax and surcharge.
Education Cess: 3% of income tax and surcharge.
Senior Citizens Above 60 Years but Below 80 Years
| Income slab | Rate of income tax FY 2013-14 |
|---|---|
| Total income less than ₹2,50,000 | Nil |
| Total income exceeds ₹2,50,000 but does not exceed ₹5,00,000 | 10% of the amount exceeding ₹2,50,000 |
| Total income exceeds ₹5,00,000 but does not exceed ₹10,00,000 | ₹25,000 + 20% of the amount exceeding ₹5,00,000 |
| Total income exceeds ₹10,00,000 | ₹1,25,000 + 30% of the amount exceeding ₹10,00,000 |
Surcharge: 10% of income tax where taxable income exceeds ₹1 crore.
Education Cess: 3% of income tax and surcharge.
Education Cess: 3% of income tax and surcharge.
Individuals Aged 80 Years and Above
| Income slab | Rate of income tax FY 2013-14 |
|---|---|
| Total income less than ₹5,00,000 | Nil |
| Total income exceeds ₹5,00,000 but does not exceed ₹10,00,000 | 20% of the amount exceeding ₹5,00,000 |
| Total income exceeds ₹10,00,000 | ₹1,00,000 + 30% of the amount exceeding ₹10,00,000 |
Surcharge: 10% of income tax where taxable income exceeds ₹1 crore.
Education Cess: 3% of income tax and surcharge.
Education Cess: 3% of income tax and surcharge.
Income Tax Rates for Association of Persons and Body of Individuals (AOP & BOI)
| Income slab | Rate of income tax |
|---|---|
| Total income less than ₹2,00,000 | Nil |
| Total income exceeds ₹2,00,000 but does not exceed ₹5,00,000 | 10% of the amount exceeding ₹2,00,000. Tax credit up to ₹2,000 as stated in the original page. |
| Total income exceeds ₹5,00,000 but does not exceed ₹10,00,000 | ₹30,000 + 20% of the amount exceeding ₹5,00,000 |
| Total income exceeds ₹10,00,000 | ₹1,30,000 + 30% of the amount exceeding ₹10,00,000 |
Surcharge: 10% of income tax where taxable income exceeds ₹1 crore.
Education Cess: 3% of income tax and surcharge.
Education Cess: 3% of income tax and surcharge.
Income Tax Rates for Co-operative Society
| Income slab | Rate of income tax |
|---|---|
| Total income less than ₹10,000 | 10% of income |
| Total income exceeds ₹10,000 but does not exceed ₹20,000 | ₹1,000 + 20% of the amount exceeding ₹10,000 |
| Total income exceeds ₹20,000 | ₹3,000 + 30% of the amount exceeding ₹20,000 |
Surcharge: 10% of income tax where taxable income exceeds ₹1 crore.
Education Cess: 3% of income tax and surcharge.
Education Cess: 3% of income tax and surcharge.
Income Tax Rates for Partnership Firm
Income Tax: 30% of taxable income.
Surcharge: 10% of income tax where taxable income exceeds ₹1 crore.
Education Cess: 3% of income tax and surcharge.
Surcharge: 10% of income tax where taxable income exceeds ₹1 crore.
Education Cess: 3% of income tax and surcharge.
Income Tax Rates for Local Authority
Income Tax: 30% of taxable income.
Surcharge: 10% of income tax where taxable income exceeds ₹1 crore.
Education Cess: 3% of income tax and surcharge.
Surcharge: 10% of income tax where taxable income exceeds ₹1 crore.
Education Cess: 3% of income tax and surcharge.
Income Tax Rates for Domestic Companies
Income Tax: 30% of taxable income.
Surcharge: 5% of income tax where taxable income exceeds ₹1 crore; 10% where taxable income exceeds ₹10 crore.
Education Cess: 3% of income tax and surcharge.
Surcharge: 5% of income tax where taxable income exceeds ₹1 crore; 10% where taxable income exceeds ₹10 crore.
Education Cess: 3% of income tax and surcharge.
Income Tax Rates for Companies Other Than Domestic Companies
| Nature of income | Rate |
|---|---|
| Royalty received from Government or an Indian concern under an agreement made after March 31, 1961 but before April 1, 1976, or fees for technical services under an agreement made after February 29, 1964 but before April 1, 1976, where the agreement was approved by the Central Government | 50% |
| Balance amount / other income | 40% |
Surcharge: 5% of income tax where taxable income exceeds ₹1 crore; 10% where taxable income exceeds ₹10 crore.
Education Cess: 3% of income tax and surcharge.
Education Cess: 3% of income tax and surcharge.