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Wednesday, March 06, 2013

Rates of income-tax in respect of income liable to tax for the assessment year 2013-14

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Rates of income-tax in respect of income liable to tax for the assessment year 2013-14

DIRECT TAXES
A. RATES OF INCOME-TAX

I. Rates of income-tax in respect of income liable to tax for the assessment year 2013-14.
In respect of income of all categories of assessees liable to tax for the assessment year 2013-14, the rates of income-tax have been specified in Part I of the First Schedule to the Bill. These are the same as those laid down in Part III of the First Schedule to the Finance Act, 2012, for the purposes of computation of “advance tax”, deduction of tax at source from “Salaries” and charging of tax payable in certain cases.



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