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Income Tax Rates/ Slab AY 2013-14 (FY 2012-13)

If you are Income Tax payers, then this site will help you to calculate your liabilities towards income tax. Following is a snap detail of Income Tax Rates for FY 2012-13 (AY 2013-14). It will be helpful for Individuals, Senior Citizens & others also.

I. Income Tax Slab Rates for (Resident Indians) Individuals:

Male/Female less than 60 years' age

INCOMETAX RATE
Upto Rs 2 LakhsNIL
> INR 2 Lakhs-INR 5 Lakhs10%
> INR 5 Lakhs-INR 10 Lakhs20%
>INR 10 Lakhs30%


Senior Citizen (60 years and above)

INCOMETAX RATE
Upto Rs 2.5 LakhsNIL
> INR 2.5 Lakhs-INR 5 Lakhs10%
> INR 5 Lakhs-INR 10 Lakhs20%
>INR 10 Lakhs30%


Very Senior Citizen (80 years and above)

INCOMETAX RATE
Upto Rs 5 LakhsNIL
> INR 5 Lakhs-INR 10 Lakhs20%
>INR 10 Lakhs30%


II. Dividend Distribution tax (DDT):

Dividend Distribution Tax (DDT) is applicable on debt-oriented mutual fund schemes. The tax is payable directly by the company distributing the dividends and the investor receives the dividend net of such tax payment. Such dividends received are totally tax exempt for investors.

Money Market or Liquid Schemes25%+ 5% Surcharge+ 3% Cess
Effective DDT Rate=27.0375%
Non-Liquid Schemes12.5%+ 5% Surcharge+ 3% Cess
Effective DDT Rate=13.519%


III. Dividends Received from Mutual Fund investments:


Equity-Oriented SchemesTax Free
Debt-Oriented SchemesTax Free


IV. Long-Term Capital Gains Tax:


For mutual fund units held for more than 1 year i.e. long-term capital gains tax is applicable as below.

Equity SchemesNil
Non- Equity Schemes
(listed)
[10% without indexation or 20% with indexation, whichever is lower] + 3% Cess
[A] Without Indexation=10.30%
[B] With Indexation=20.60%


V. Short-Term Capital Gains Tax:


For mutual fund units held for less than 1 year, i.e. short-term capital gains tax is applicable as below.
Equity-Oriented Schemes15% + 3% Cess =15.450%
Debt-Oriented SchemesAs per individual tax slab rate + 3% Cess
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@ All the Income tax slabs details are collected from different information sources. There may be some difference in actual Tax calculation.

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