Calculate your Tax Liability in Financial Year 2013-14 and Income Tax Slab for Asstt. Year 2014-15

Every Employee watching towards Union Budget-2013 and all are very disappointing with it.  Thereafter  Salaried Employee want to calculate Tax Liability for Asstt. Year 2014-15 from March-2013. Finance Minister was declared the Income Tax slab for Assessment Year 2014-15. On the basis of current Income Tax Slab salaried employee calculate Income Tax which is deduct from salary of March-13 as TDS.

Calculate your Tax Liability in Financial Year 2013-14



I. In case of individual (other than II and III below) and HUF
*** Tax credit of Rs.2000 for annual income of Rs. 5 lakh

II. In case of individual being a woman resident in India and below the age of 60 years at any time during the previous year:

*** Tax credit of Rs.2000 for annual income of Rs. 5 lakh

III. In case of an individual resident who is of the age of 60 years or more at any time during the previous year:

*** Tax credit of Rs.2000 for annual income of Rs. 5 lakh

IV. In case of an individual resident who is of the age of 80 years or more at any time during the previous year:

*** Tax credit of Rs.2000 for annual income of Rs. 5 lakh
  • Education Cess: 3% of the Income-tax.
  • New Rs 50,000 tax exemption for retail equity investments
  • Sale of residential property exempt from Capital Gains tax if invested in equity or equipment of an SME.
  • Implementation of Direct Tax Code (DTC) deferred. GST to be operational by August 2012.
  • Surcharge of 10% on income more than Rs. 1 crore
  • Tax credit of Rs.2000 for annual income of Rs. 5 lakh
  • Home Loan Income tax Exemption limit increased from Rs.1.5 lakhs to Rs.2.5 lakhs for loan up to Rs.25 lakhs
  • Rajiv Gandhi Equity Savings Scheme extended to mutual funds.
  • Rajiv Gandhi Equity Savings Scheme to be liberlised.
  • Rajiv Gandhi Equity Savings Scheme limit increased.
Download Tax Calculator For. A. Y. 2013-15  (Click Here)
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