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Income tax slabs post Budget 2013

New Delhi, Feb 28: Following is the table of the impact of changes in income tax provisions proposed by Finance Minister P Chidambaram in the Budget for 2013-14. These include a tax relief of Rs

India TV Business Desk [ Updated: February 28, 2013 18:52 IST ]
income tax slabs post budget 2013
income tax slabs post budget 2013

New Delhi, Feb 28: Following is the table of the impact of changes in income tax provisions proposed by Finance Minister P Chidambaram in the Budget for 2013-14. These include a tax relief of Rs 2,000 on income between Rs 2 lakh and Rs 5 lakh, and 10 per cent surcharge on income above Rs 1 crore.




Income Tax Rate -- Impact1. Up to Rs 2,00,000 - NIL --- NIL

Rs 2,00,001 to Rs 5,00,000 -- 10 per cent -- Rs 2,000 (Savings)

Rs 5,00,001 to Rs 10,00,000 -- 20 per cent -- NIL

Rs 10,00,001 to Rs 1 crore -- 30 per cent -- NIL

Above Rs 1 crore -- 30% surcharge -- 3% burden


2. (For Senior Citizens of 60 years but less than 80 years)

Up to Rs 2,50,000 -- NIL -- NIL

Rs 2,50,001 to Rs 5,00,000 -- 10 per cent -- Rs 2,000 (Savings)

Rs 5,00,001 to Rs 10,00,000 -- 20 per cent -- NIL

Rs 10,00,001 to Rs 1 crore --- 30 per cent -- NIL

Above Rs 1 crore -- 30% Surcharge -- 3% burden


3 (Very Senior Citizens of 80 years and above)

Up to Rs 5,00,000 -- NIL -- Rs 2,000 (Savings)

Rs 5,00,001 to Rs 10,00,000 -- 20 per cent -- NIL

Rs 10,00,001 to Rs 1 crore -- 30 per cent -- NIL

Above Rs 1 crore -- 30% Surcharge -- 3% burden

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