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Income Tax
FILE INCOME TAX RETURN IN Rs.1000/- (For Salaried Person)


Income Tax

Income Tax is applicable on the Net Income earned during the year by different sources e.g. Salary Income, Income from Business & Profession, Capital Gain and Income from Other Sources. INCOME TAX RATE FOR A.Y.2013-2014 For individual, every HUF/AOP/BOI/artificial juridical person:- Net Income Range Income Tax Rates Surcharge Education Cess Up to Rs. 2,00,000 NIL NIL NIL Rs. 2,00,001 – 5,00,000 10% NIL 3% Rs. 5,00,001 – 10,00,000 20% NIL 3% Above Rs.10,00,000 30% NIL 3% For resident Senior citizen (who is 60 years or more at any time during the previous year):- Net Income Range Income Tax Rates Surcharge Education Cess Up to Rs. 2,50,000 NIL NIL NIL Rs. 2,50,001 – 5,00,000 10% NIL 3% Rs. 5,00,001– 10,00,000 20% NIL 3% Above Rs.10, 00,000 30% NIL 3% For resident Sper Senior citizen (who is 60 years or more at any time during the previous year):- Net Income Range Income Tax Rates Surcharge Education Cess Up to Rs. 5,00,000 NIL NIL NIL Rs. 5,00,001– 10,00,000 20% NIL 3% Above Rs.10, 00,000 30% NIL 3% DEDUCTIONS In addition to the sum of Rs.1 Lac, the following six deductions will continue to receive the same tax treatment as prevails. Interest paid on housing loan for self-occupied house property. Medical insurance premium. Specified expenditure on disabled dependant. Expenses for medical treatment of specified diseases or ailments for self or dependant or member of HUF. Deduction in respect of interest on loan for pursuing higher studies. Deduction to a person with disability. Partnership Firms & Companies Tax Rate - 30% Surcharge - NIL Education Cess - 3% on (Income Tax + Surcharge) Effective Rate of Tax - 33.66% DEDUCTIONS In addition to the sum of Rs.1 Lac, the following six deductions will continue to receive the same tax treatment as prevails. Interest paid on housing loan for self-occupied house property. Medical insurance premium. Specified expenditure on disabled dependant. Expenses for medical treatment of specified diseases or ailments for self or dependant or member of HUF. Deduction in respect of interest on loan for pursuing higher studies. Deduction to a person with disability.

Basic

Rs.1000/-

all inclusive fees

Premium

Rs.2500/-

all inclusive fees

Corporate

Rs.3000/-

all inclusive fees