NRI's CORNER
F.E.M.A.
TAX RATES TABLE

NRIs CORNER - TAX  RATES TABLE AS REGARDS TAXABLE INCOME FOR THE FINANCIAL YR 2014-15 FOR THE FINANCIAL YR 2013-14


FOR THE FINANCIAL YEAR 2014-15
1.      For Individual / HUF
 
TOTAL INCOME (INR)
RATE OF INCOME TAX
i)
0 < 2,50,000
NIL
ii)
2,50,001 < 5,00,000
10% of the amount by which the total income exceeds Rs.2,50,000
iii)
5,00,001 < 10,00,000
Rs.25,000 + 20% of amount by which the total income exceeds Rs.5,00,000
iv)
Total income more than 10,00,000
Rs.1,30,000 + 30% of amount by which the total income exceeds Rs.10,00,000 
 
 
2.      For Resident Senior Citizen i.e. who is of an age of 60 years and above, but below 80 years.
 
 
TOTAL INCOME (INR)
RATE OF INCOME TAX
i)
0 < 3,00,000
NIL
ii)
3,00,001 < 5,00,000
10% of the amount by which the total income exceeds Rs.3,00,000
iii)
5,00,001 < 10,00,000
Rs.20,000 + 20% of amount by which the total income exceeds Rs.5,00,000
iv)
Total income more than 10,00,000
Rs.1,20,000 + 30% of amount by which the total income exceeds Rs.10,00,000
 
3.      For Resident Very Senior Citizen i.e. who is of an age of 80 years and above.
 
 
TOTAL INCOME (INR)
RATE OF INCOME TAX
i)
0 < 5,00,000
NIL
ii)
5,00,001 < 10,00,000
20% of amount by which the total income exceeds Rs.5,00,000
iii)
Total income more than 10,00,000
Rs.1,00,000 + 30% of amount by which the total income exceeds Rs.10,00,000



Note:  When the Aggregate income exceeds Rs 1 Crore, Tax Amount shall be increased by Surcharge at the rate of 10%.


 
FOR THE FINANCIAL YEAR 2013-14
1.      For Individual / HUF
 
TOTAL INCOME (INR)
RATE OF INCOME TAX
i)
0 < 2,00,000
NIL
ii)
2,00,001 < 5,00,000
10% of the amount by which the total income exceeds Rs.2,00,000
iii)
5,00,001 < 10,00,000
Rs.30,000 + 20% of amount by which the total income exceeds Rs.5,00,000
iv)
Total income more than 10,00,000
Rs.1,30,000 + 30% of amount by which the total income exceeds Rs.10,00,000 
 
 
2.      For Resident Senior Citizen i.e. who is of an age of 60 years and above, but below 80 years.
 
 
TOTAL INCOME (INR)
RATE OF INCOME TAX
i)
0 < 2,50,000
NIL
ii)
2,50,001 < 5,00,000
10% of the amount by which the total income exceeds Rs.2,50,000
iii)
5,00,001 < 10,00,000
Rs.25,000 + 20% of amount by which the total income exceeds Rs.5,00,000
iv)
Total income more than 10,00,000
Rs.1,25,000 + 30% of amount by which the total income exceeds Rs.10,00,000
 
3.      For Resident Very Senior Citizen i.e. who is of an age of 80 years and above.
 
 
TOTAL INCOME (INR)
RATE OF INCOME TAX
i)
0 < 5,00,000
NIL
ii)
5,00,001 < 10,00,000
20% of amount by which the total income exceeds Rs.5,00,000
iii)
Total income more than 10,00,000
Rs.1,00,000 + 30% of amount by which the total income exceeds Rs.10,00,000


Note:  When the Aggregate income exceeds Rs 1 Crore, Tax Amount shall be increased by Surcharge at the rate of 10%.




Special Rates For Income Tax
:- (For the Financial Year 2014-15 & 2013-14)

4.   Short Term Capital Gain
 

 

INCOME (INR)

RATE OF INCOME TAX %

i)

Short Term Capital Gain of Equity Shares or unit of an equity oriented fund

15%

ii)

Other Short Term Capital Gain

Normal rate of Tax of 0% to 30%

iii)

Benefit of Threshold Exemption Limit is not available to NRI

 

 5.   Long Term Capital Gain

 

 

INCOME (INR)

RATE OF INCOME TAX %

i)

Long Term Capital Gain from equity share or

unit of an equity oriented fund

Exempt

ii)

Long Term Capital Gain from listed securities

Tax @ 20% after indexation.

or

Tax @ 10% without indexation.

iii)

Long Term Capital Gain from unlisted securities

[In case of a Non-Resident (not being a Company) or a Foreign Company]

10%

iv)

Long term Capital Gains on Specified Assets  (In case of NRI)

10%

v)

Long Term Capital Gain other than the above

20%

vi)

Benefit of Threshold Exemption Limit is not available to NRI

 

 

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