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
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
