Tax rate slab for Association of Persons (AOP), Body of Individual (BOI), Firm and Comppanies

Following tax rates are applicable to association of persons or a body of individual, firm and companies for the assessment year 2013-14 and 2014-15.

Its required that every such AOP, BOI, Firm and companies pay their income tax liabilities based on the rates that are applicable to the assessment year relevant to the previous year.

Following rates that are listed below are applicable for the assessment year 2013-2014 and 2014-2015.

Sr. No Total Income Slabs IT Rate
1 Less than Rs. 2, 00, 000 NIL
2 Exceed 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/-
3 Exceed 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
4 Exceed Rs. 10, 00, 000 Rs. 1, 30, 000 + 30%  of the amount by which the total income exceeds Rs. 10, 00, 000

Education cess: 3% on tax amount

CO-OPERATIVE SOCIETY

Sr. No Total Income IT Rate
1 Less than Rs. 10, 000 10%
2 Exceed Rs. 10, 000 but does not exceed Rs. 20, 000 Rs. 1, 000 + 20% of income in excess of Rs. 10, 000
3 Exceeds Rs. 20, 000 Rs. 3000 + 30% of the amount by which  the total income exceeds Rs. 20, 000

Surcharge: Nil

Education Cess: 3% of the tax amount

Tax rate slab for Association of Persons (AOP), Body of Individual (BOI), Firm and Comppanies

FIRM

Tax rate: 30% of total income

Surcharge: Nil

Education Cess: 3% of the tax amount charged

LOCAL AUTHORITY

Tax Rate: 30% of the total income

Surcharge: Nil

Education cess: 3% of the tax amount

DOMESTIC COMPANY

Tax rate: 30% of the total income

Surcharge:

If the total income does not exceed or equal to Rs. 1 crore: Nil

Exceeding Rs. 1 crore: 5% of tax amount

Education Cess: 3% of the total of tax and surcharge

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