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Income Tax for Individuals and HUFs for the Assessment Year 2014-15 (FY 2013-14)

  • New Added Tax Saving under RGESS - over and above the present tax savings

    A. Individuals and HUFs

    In case of individual (other than II, III and IV below) and HUF:-

    Surcharge : 10% On Taxpayers with annual income of more than one Crore rupee a year.

    Education Cess:3% of the Income-tax.

    II. In case of individual being a woman resident in India and below the age of 60 years at any time during the previous year:-

    Surcharge : 10% On Taxpayers with annual income of more than one Crore rupee a year.

    Education Cess:3% of the Income-tax.

    III. In case of an individual resident who is of the age of 60 years or more at any time during the previous year:-

    Surcharge : 10% On Taxpayers with annual income of more than one Crore rupee a year.

    Education Cess:3% of the Income-tax.

    IV. In case of an individual resident who is of the age of 80 years or more at any time during the previous year:-

    Surcharge : 10% On Taxpayers with annual income of more than one Crore rupee a year.

    Education Cess:3% of the Income-tax. Calculations Made Easy Calculator


    Budget 2013 Highlights

    Following are highlights of the Budget:

    FISCAL DEFICIT

    BORROWING

    SUBSIDIES

    GROWTH

    SPENDING

    REVENUE

    CURRENT ACCOUNT DEFICIT

    INFLATION

    TAX

    CORPORATE SECTOR AND MARKETS

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    FOREIGN TRADE

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