28 February, 2013

Budget_13 Income Tax Slab: Proposed Income Tax Slabs and Rates for AY 2014-15 (FY 2013-14)

Friends, Good Info… for your ready Ref. for next Year. J

 

Proposed Income Tax Slabs and Rates for AY 2014-15 (FY 2013-14)

http://finotax.com/itax/itaxrates13.htm     

This page contains Income Tax rates and slabs for various categories of Indian Income Tax payers in a user friendly format. Please send your suggestions / feedback to finotax@gmail.com to enable us to make it more useful.

·         Individuals (Below 60 years) & HUFs

·         Senior Citizens (Above 60 years but below 80 years)

·         Very Senior Citizens (Above 80 years)

·         AOPs & BOIs

·         Co-operative Society

·         Firm

·         Local Authority

·         Domestic Company

·         Other Company

A. Individuals and HUFs

I. Individual (other than II and III below) and HUF

 

Income Slabs

Income Tax Rate

i.

Where the total income does not exceed Rs. 2,00,000/-.

NIL

ii.

Where the total income exceeds Rs. 2,00,000/- but does not exceed Rs. 5,00,000/-.

10% of amount by which the total income exceeds Rs. 2,00,000/-.
Less: Tax Credit upto a maximum of Rs. 2000/-.

iii.

Where the total income exceeds Rs. 5,00,000/- but does not exceed Rs. 10,00,000/-.

Rs. 30,000/- + 20% of the amount by which the total income exceeds Rs. 5,00,000/-.

iv.

Where the total income exceeds Rs. 10,00,000/-.

Rs. 130,000/- + 30% of the amount by which the total income exceeds Rs. 10,00,000/-.

Surcharge: 10% of the Income Tax, where total taxable income is more than Rs. 1 crore.

Education Cess: 3% of the total of Income-tax and Surcharge.

II. 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

 

Income Slabs

Income Tax Rate

i.

Where the total income does not exceed Rs. 2,50,000/-.

NIL

ii.

Where the total income exceeds Rs. 2,50,000/- but does not exceed Rs. 5,00,000/-

10% of the amount by which the total income exceeds Rs. 2,50,000/-.

iii.

Where the total income exceeds Rs. 5,00,000/- but does not exceed Rs. 10,00,000/-

Rs. 25,000/- + 20% of the amount by which the total income exceeds Rs. 5,00,000/-.

iv.

Where the total income exceeds Rs. 10,00,000/-

Rs. 125,000/- + 30% of the amount by which the total income exceeds Rs. 10,00,000/-.

Surcharge: 10% of the Income Tax, where total taxable income is more than Rs. 1 crore.

Education Cess: 3% of the total of Income-tax and Surcharge.

III. Individual resident who is of the age of 80 years or more at any time during the previous year

 

Income Slabs

Income Tax Rate

i.

Where the total income does not exceed Rs. 5,00,000/-.

NIL

ii.

Where the total income exceeds Rs. 5,00,000/- but does not exceed Rs. 10,00,000/-

20% of the amount by which the total income exceeds Rs. 5,00,000/-.

iii.

Where the total income exceeds Rs. 10,00,000/-

Rs. 100,000/- + 30% of the amount by which the total income exceeds Rs. 10,00,000/-.

Surcharge: 10% of the Income Tax, where total taxable income is more than Rs. 1 crore.

Education Cess: 3% of the total of Income-tax and Surcharge.

B. Association of Persons (AOP) and Body of Individuals (BOI)

i. Income-tax:

 

Income Slabs

Income Tax Rate

i.

Where the total income does not exceed Rs. 2,00,000/-.

NIL

ii.

Where the total income exceeds Rs. 2,00,000/- but does not exceed Rs. 5,00,000/-.

10% of amount by which the total income exceeds Rs. 2,00,000/-

iii.

Where the total income exceeds Rs. 5,00,000/- but does not exceed Rs. 8,00,000/-.

Rs. 30,000/- + 20% of the amount by which the total income exceeds Rs. 5,00,000/-.

iv.

Where the total income exceeds Rs. 10,00,000/-.

Rs. 130,000/- + 30% of the amount by which the total income exceeds Rs. 10,00,000/-.

Surcharge: 10% of the Income Tax, where total taxable income is more than Rs. 1 crore.

ii. Education Cess: 3% of the total of Income-tax and Surcharge.

C. Co-operative Society

i. Income-tax:

 

Income Slabs

Income Tax Rate

i.

Where the total income does not exceed Rs. 10,000/-.

10% of the income.

ii.

Where the total income exceeds Rs. 10,000/- but does not exceed Rs. 20,000/-.

Rs. 1,000/- + 20% of income in excess of Rs. 10,000/-.

iii.

Where the total income exceeds Rs. 20,000/-

Rs. 3.000/- + 30% of the amount by which the total income exceeds Rs. 20,000/-.

Surcharge: 10% of the Income Tax, where total taxable income is more than Rs. 1 crore.

iii. Education Cess: 3% of the total of Income-tax and Surcharge.

D. Firm

i. Income-tax: 30% of total income.

ii. Surcharge: 10% of the Income Tax, where total taxable income is more than Rs. 1 crore.

iii. Education Cess: 3% of the total of Income-tax and Surcharge.

E. Local Authority

i. Income-tax: 30% of total income.

ii. Surcharge: 10% of the Income Tax, where total taxable income is more than Rs. 1 crore.

iii. Education Cess: 3% of Income-tax.

F. Domestic Company

i. Income-tax: 30% of total income.

ii. Surcharge: The amount of income tax as computed in accordance with above rates, and after being reduced by the amount of tax rebate shall be increased by a surcharge at the rate of 5% of such income tax, provided that the total income exceeds Rs. 1 crore. 10% of the Income Tax, where total taxable income is more than Rs. 10 crore.

iii. Education Cess: 3% of the total of Income-tax and Surcharge.

G. Company other than a Domestic Company

i. Income-tax:

·         @ 50% of on so much of the total income as consist of (a) royalties received from Government or an Indian concern in pursuance of an agreement made by it with the Government or the Indian concern after the 31st day of March, 1961 but before the 1st day of April, 1976; or (b) fees for rendering technical services received from Government or an Indian concern in pursuance of an agreement made by it with the Government or the Indian concern after the 29th day of February, 1964 but before the 1st day of April, 1976, and where such agreement has, in either case, been approved by the Central Government.

·         @ 40% of the balance

ii. Surcharge: The amount of income tax as computed in accordance with above rates, and after being reduced by the amount of tax rebate shall be increased by a surcharge at the rate of 2% of such income tax, provided that the total income exceeds Rs. 1 crore. 5% of the Income Tax, where total taxable income is more than Rs. 10 crore.

iii. Education Cess: 3% of the total of Income-tax and Surcharge.

Disclaimer:

All efforts are made to keep the content of this site correct and up-to-date. But, this site does not make any claim regarding the information provided on its pages as correct and up-to-date. The contents of this site cannot be treated or interpreted as a statement of law. In case, any loss or damage is caused to any person due to his/her treating or interpreting the contents of this site or any part thereof as correct, complete and up-to-date statement of law out of ignorance or otherwise, this site will not be liable in any manner whatsoever for such loss or damage.

 

Posted by at 2 comments:

07 February, 2013

Public Awareness: This film should be seen by the entire world...

This video is about an island in the ocean at 2000 km from any other coast line.

Nobody lives there, only birds... and yet ...............

You will not believe your eyes!!!!!!!


 

This film should be seen by the entire world, please don't throw anything into the sea. Unbelievable, just look at the consequences!!!!! 

 

  http://www.midwayfilm.com/

 

 

Best Regards,

Chirag Gandhi

 

"People often say that motivation doesn't last. Well, neither does bathing - that's why we recommend it daily."

~~~   Zig Ziglar

 

From:]
Sent: Thursday, February 07, 2013 5:59 PM
To
Subject: This film should be seen by the entire world...
Importance: High

 

 

This video is about an island in the ocean at 2000 km from any other coast line.

Nobody lives there, only birds... and yet ...............

You will not believe your eyes!!!!!!!


 

This film should be seen by the entire world, please don't throw anything into the sea. Unbelievable, just look at the consequences!!!!! 

 

Posted by at No comments:

06 February, 2013

Fun: 9 Daily Habits That Will Make You Happier

Worth reading & putting in to habit … :

 

http://www.inc.com/geoffrey-james/9-daily-habits-that-will-make-you-happier.html

 

These minor changes in your daily routine will make a major difference in your life and career.

            

Happiness is the only true measure of personal success. Making other people happy is the highest expression of success, but it's almost impossible to make others happy if you're not happy yourself.

With that in mind, here are nine small changes that you can make to your daily routine that, if you're like most people, will immediately increase the amount of happiness in your life:

1. Start each day with expectation.

If there's any big truth about life, it's that it usually lives up to (or down to) your expectations. Therefore, when you rise from bed, make your first thought: "something wonderful is going to happen today." Guess what? You're probably right.

2. Take time to plan and prioritize.

The most common source of stress is the perception that you've got too much work to do.  Rather than obsess about it, pick one thing that, if you get it done today, will move you closer to your highest goal and purpose in life. Then do that first.

3. Give a gift to everyone you meet.

I'm not talking about a formal, wrapped-up present. Your gift can be your smile, a word of thanks or encouragement, a gesture of politeness, even a friendly nod. And never pass beggars without leaving them something. Peace of mind is worth the spare change.

4. Deflect partisan conversations.

Arguments about politics and religion never have a "right" answer but they definitely get people all riled up over things they can't control. When such topics surface, bow out by saying something like: "Thinking about that stuff makes my head hurt."

5. Assume people have good intentions.

Since you can't read minds, you don't really know the "why" behind the "what" that people do. Imputing evil motives to other people's weird behaviors adds extra misery to life, while assuming good intentions leaves you open to reconciliation.

6. Eat high quality food slowly.

Sometimes we can't avoid scarfing something quick to keep us up and running. Even so, at least once a day try to eat something really delicious, like a small chunk of fine cheese or an imported chocolate. Focus on it; taste it; savor it.

7. Let go of your results.

The big enemy of happiness is worry, which comes from focusing on events that are outside your control. Once you've taken action, there's usually nothing more you can do. Focus on the job at hand rather than some weird fantasy of what might happen.

8. Turn off "background" TV.

Many households leave their TVs on as "background noise" while they're doing other things. The entire point of broadcast TV is to make you dissatisfied with your life so that you'll buy more stuff. Why subliminally program yourself to be a mindless consumer?

9. End each day with gratitude.

Just before you go to bed, write down at least one wonderful thing that happened. It might be something as small as a making a child laugh or something as huge as a million dollar deal. Whatever it is, be grateful for that day because it will never come again.

Happy Computing! & Have A Good Day Ahead!

 

Cheers!

Chirag Gandhi

 

"Do not go where the path may lead, go instead where there is no path and leave a trail."

~~~ Ralph Waldo Emerson

 

Posted by at No comments:

04 February, 2013

Android App Info: FW: Released Android application today

Really interesting one …

 

If you have Android Powered SmartPhone then you can try this App. … really it seems it is very useful for those all who are doing lots of SMS / Social Media and email on smartphone … J

 

Here is YouTube video on how it works? https://www.youtube.com/watch?v=9aVBztHtUJQ

 

Here are few news articles on same:-

http://www.cedailynews.com/2013/01/help-for-your-android-keyboard.html

 

http://www.firstpost.com/topic/product/android-zoomkee-keyboard-video-9aVBztHtUJQ-53093-2.html

 

http://topic.worlds-luxury-guide.com/article/090L3dc3uGfWq?q=Colorado

 

http://www.redorbit.com/news/entertainment/1112774479/startup-launches-an-innovative-way-to-type-on-android-smartphones/

 

http://www.prnewswire.com/news-releases/startup-launches-an-innovative-way-to-type-on-android-smartphones---zoomkee-keyboard-189126521.html

 

Link for Play Store:   https://play.google.com/store/apps/details?id=com.entropywrap.zoomkee   

 

Best Regards,

Chirag Gandhi

"People often say that motivation doesn't last. Well, neither does bathing - that's why we recommend it daily."

~~~   Zig Ziglar

 

Sent: Monday, February 04, 2013 5:21 PM
Subject: Released Android application today

 

 

Posted by at No comments:
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