Income tax rates for Financial year 2013-2014

The Income rates and slabs for year 2013-2014 (Assessment year 2014-2015)are as follows:

Annual Income Tax Slab
Up-to Rs  200,000 (for senior citizens 250,000) Nil
Between Rs 200,000 to 500,000 10%
Between Rs  500,000 to 1,000,000 20%
Above Rs  1,000,000 30%
No enhanced limit for women. Men and women are treated same now .

Education cess of 3% will levied for on total income tax computed.

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