INCOME TAX RATES (LAST 8 YEARS)

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INCOME TAX RATES OF LAST EIGHT YEARS
A: INCOME TAX FOR
INDIVIDUALS, HINDU UNDIVIDED FAMILIES,

BODY OF INDIVIDUAL AND ASSOCIATION OF PERSON
OTHER THAN COMPANIES


NOTES –(1) Exemption limit for A.Y. 2010-2011 and 2011-2012, Rs. 1,60,000 for male and Rs. 1,90,000 for female and Rs 2,40,000
for senior citizens.
(2) For F.Y.
2010-2011 (A.Y. 2011-12), slab rates for individuals revised as follows – upto
Rs. 5 Lacs, 10% between Rs. 5 Lacs to 8 Lacs, 20%; and above Rs. 8 Lacs 10%.
(3) Exemption
limit for A. Y. 2012-13 raised to Rs 1,80,000 for male and female Rs 1,90,000
and Rs 2,50,000 for senior citizens (60-80 years) and above 80 years senior
citizens to Rs 5 Lacs.
(4) Qualifying
age of senior citizens reduced from 65 years to 60 years w.e.f. A/. Y. 2012-13
(F. Y. 2011-2012).

INCOME INCOME
TAX
For Individuals, BOI, AOP’s and All type of HUF’s
A.Y.2006-07 A.Y.2007-08 A.Y.2008-09 A.Y.2009-10 A.Y.2010-11 A.Y.2011-12 A.Y.2012-13 A.Y.2013-14
Upto Rs. 50,000 NIL NIL NIL NIL NIL NIL NIL NIL
Next Rs. 10,000 NIL NIL NIL NIL NIL NIL NIL NIL
Next Rs. 40,000 NIL NIL NIL NIL NIL NIL NIL NIL
Next Rs. 20,000 10% 10% 10% NIL NIL NIL NIL NIL
Next Rs. 30,000 10% 10% 10% NIL NIL NIL NIL NIL
Next Rs. 10,000 20% 20% 20% 10% NIL NIL NIL NIL
Next Rs. 20,000 20% 20% 20% 10% 10% 10% NIL NIL
Next Rs. 20,000 20% 20% 20% 10% 10% 10% 10% NIL
Next Rs. 1,00,000 30% 30% 30% 20% 10% 10% 10% 10%
Next Rs. 2,00,000 30% 30% 30% 20% 20% 10% 10% 10%
Next Rs. 3,00,000 30% 30% 30% 20% 30% 20% 20% 20%
Next Rs. 2,00,000 30% 30% 30% 30% 30% 30% 30% 20%
On Balance 30% 30% 30% 30% 30% 30% 30% 30%
RECOMMENDED READ  Income Tax 8th Amendment regarding Depreciation w.e.f. 01.04.2014

Surcharge on Income Tax
S. No. Assessment Year Income Exceeds Rate of Tax
1. 2006-2007 Onwards 10,00,000 10%
2. 2010-2011 Onwards NIL NIL

Note:- 
(1) From A. Y. 2008-2009, additional Secondary & Higher Education Cess levied @ 1% on I. T. and Surcharge.
(2) Surcharge @ 10% eliminated on Individuals from A. Y. 2010-2011 onwards.
(3) For A. Y. 2014-2015, 10% surcharge levied of Income Tax on individual, HUF, AOP and BOI, if total income exceed Rs. 1 Crore.

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