The slab for the financial year 2014-15 is as follows for Resident Indians Upto Rs. 2,50,000 Nil Rs. 2,50,001 to Rs. 3,00,000 -- 10% for General Citizen and 'NIL" For Senior Citizen and Super Senior Citizen Rs. 3,00,001 to Rs. 5,00,000 _-- 10% for General Citizen and Senior Citizen ' NIL ' for Super Senior Citizen Rs. 5,00,001 to Rs. 10,00,000 ---20% for All Category Individuals Above Rs. 10,00,000- 30 % for all category Individuals There is no discrimination for Women .Companies , firms and C-operative Societies are taxed at 30% for their Taxable income in flat rate.

The slab for the financial year 2014-15 is as follows for Resident Indians Upto Rs. 2,50,000 Nil Rs. 2,50,001 to Rs. 3,00,000 -- 10% for General Citizen and 'NIL" For Senior Citizen and Super Senior Citizen

Hie Rakesh, **The Income tax slabs for A.Y. 2015.16 (F.Y. 2014-15) for Individual / HUF are as Follows :-** - Basic Exemption Limit is 250000 after that 10% upto 500000. And after 500000 to 1000000 the tax rate is 20%. And if the Income is above 1000000 then the rate is 30%. - Basic exemption limit for Senior citizens (Age more than 60 less than 80) are 300000 and 500000 for Super Senior citizens (Age more than 80). - For Firms the rate is flat 30%. - For Corporates the tax rate is 25%.

Individual resident aged below 60 years (i.e. born on or after 1st April 1954) or any NRI/ HUF/ AOP/ BOI/ AJP* Income Tax :Tax Calculator : AY 2014-15 Income Slabs Tax Rates i. Where the taxable income does not exceed Rs. 2,00,000/-. NIL ii. Where the taxable income exceeds Rs. 2,00,000/- but does not exceed Rs. 5,00,000/-. 10% of amount by which the taxable income exceeds Rs. 2,00,000/-. Less (in case of Resident Individuals only) : Tax Credit u/s 87A - 10% of taxable income upto a maximum of Rs. 2000/-. iii. Where the taxable income exceeds Rs. 5,00,000/- but does not exceed Rs. 10,00,000/-. Rs. 30,000/- + 20% of the amount by which the taxable income exceeds Rs. 5,00,000/-. iv. Where the taxable income exceeds Rs. 10,00,000/-. Rs. 130,000/- + 30% of the amount by which the taxable income exceeds Rs. 10,00,000/-. Surcharge : 10% of the Income Tax, where taxable income is more than Rs. 1 crore. (Marginal Relief in Surcharge, if applicable) Education Cess : 3% of the total of Income Tax and Surcharge. * Abbreviations used : NRI - Non Resident Individual; HUF - Hindu Undivided Family; AOP - Association of Persons; BOI - Body of Individuals; AJP - Artificial Judicial Person

Dear Rakesh The slab for the financial year 2014-15 is as follows for Resident Indians Upto Rs. 2,50,000 Nil Rs. 2,50,001 to Rs. 3,00,000 -- 10% for General Citizen and 'NIL" For Senior Citizen and Super Senior Citizen Rs. 3,00,001 to Rs. 5,00,000 _-- 10% for General Citizen and Senior Citizen ' NIL ' for Super Senior Citizen Rs. 5,00,001 to Rs. 10,00,000 ---20% for All Category Individuals Above Rs. 10,00,000- 30 % for all category Individuals There is no discrimination for Women .Companies , firms and C-operative Societies are taxed at 30% for their Taxable income in flat rate. Kind Regards Vinod.P

Dear Rakesh, For individual and huf : 2500,000 nil next 250,000 10% next 500000 20% Balance 30% Cess: 3% Surcharge 10% if total income exceed one core. For senior citizen such exemption is rs 250,000 and rest are same Rebate u/s 87A of rs 2000 is avilable if total income does not exceed 500,000/- For such exemption (250000) for super senior citizen is 500,000 rest are same. For comapny, pertnership firm etc are liable to pay tax @ 30% Any other query feel free to contact us. Writer CA Chitranjan Agarwal