Income Tax Slab Rates FY 2013-14 (AY 2014-15)
Updated: 3 June 2026 | FY 2013-14 / AY 2014-15 | Budget 2013 | Income-tax Act, 2025
For Financial Year 2013-14 (Assessment Year 2014-15), income tax slabs for individuals had a basic exemption of ₹2,00,000. Landmark changes: Section 87A rebate of ₹2,000 was introduced for the first time (for income up to ₹5 lakh), a 10% surcharge was reintroduced for income above ₹1 crore, and Commodities Transaction Tax (CTT) was introduced. There was no new tax regime — only the existing old (regular) regime applied. The 80C deduction limit remained at ₹1,00,000.
87A born
Section 87A was introduced for the first time in FY 2013-14 via Budget 2013 — providing a ₹2,000 rebate for individuals with income up to ₹5 lakh. It continues (in evolved form) to this day.
Individual — Below 60 Years (FY 2013-14)
| Income Slab | Tax Rate | Effective Tax |
|---|---|---|
| Up to ₹2,00,000 | Nil | ₹0 |
| ₹2,00,001 – ₹5,00,000 | 10% | Up to ₹30,000 (less 87A rebate of ₹2,000 = ₹28,000 max) |
| ₹5,00,001 – ₹10,00,000 | 20% | ₹30,000 + 20% of amount above ₹5L |
| Above ₹10,00,000 | 30% | ₹1,30,000 + 30% of amount above ₹10L |
Add: Education Cess 2% + Secondary & Higher Education Cess 1% = 3% cess on income tax payable (after 87A rebate).
Senior Citizens (Age 60–79) — FY 2013-14
| Income Slab | Tax Rate |
|---|---|
| Up to ₹2,50,000 | Nil |
| ₹2,50,001 – ₹5,00,000 | 10% |
| ₹5,00,001 – ₹10,00,000 | 20% |
| Above ₹10,00,000 | 30% |
Super Senior Citizens (Age 80+) — FY 2013-14
| Income Slab | Tax Rate |
|---|---|
| Up to ₹5,00,000 | Nil |
| ₹5,00,001 – ₹10,00,000 | 20% |
| Above ₹10,00,000 | 30% |
Section 87A Rebate — Introduced in FY 2013-14 for the First Time
Section 87A was inserted by the Finance Act 2013, making it applicable from AY 2014-15 (FY 2013-14). A resident individual with total income up to ₹5,00,000 was entitled to a rebate of up to ₹2,000 (or actual income tax, whichever was lower). This rebate was applied against income tax payable before adding the 3% education cess. This was the very first time a rebate provision was available for individual taxpayers. The rebate later evolved: ₹5,000 (FY 2016-17), ₹2,500 (FY 2017-18), and substantially higher amounts under the new regime from FY 2023-24.
Surcharge — FY 2013-14
| Income Level | Surcharge Rate |
|---|---|
| Up to ₹1,00,00,000 | Nil |
| Above ₹1,00,00,000 | 10% of income tax |
Surcharge was reintroduced in FY 2013-14 for individuals with income above ₹1 crore after having been absent for some years. Marginal relief applies — the extra tax from surcharge cannot exceed the extra income over ₹1 crore. For domestic companies: 5% surcharge on income between ₹1 crore and ₹10 crore; 10% on income above ₹10 crore.
Budget 2013 Key Changes for Individual Taxpayers
| Change | Detail |
|---|---|
| Section 87A rebate — introduced | ₹2,000 rebate for resident individuals with total income up to ₹5,00,000 — first-ever rebate for individuals |
| Surcharge reintroduced (individuals) | 10% surcharge on income tax for individuals with income above ₹1 crore |
| Commodities Transaction Tax (CTT) | 0.01% CTT on non-agricultural commodity futures trades, effective 1 July 2013 |
| Section 80EE — home loan | New deduction of ₹1,00,000 for first-time home buyers (loan ≤ ₹25L, property ≤ ₹40L, sanctioned Apr 2013–Mar 2014) |
| Section 80C limit | Remained at ₹1,00,000 (raised to ₹1,50,000 only in FY 2014-15) |
| Life insurance premium deduction | Maintained at 10% of sum assured (introduced stricter condition in FY 2012-13) |
| Rajiv Gandhi Equity Savings Scheme | Section 80CCG: 50% deduction on investment up to ₹50,000 in approved equity schemes for first-time investors (income ≤ ₹12L) |
Key Deductions Available in FY 2013-14
| Deduction / Exemption | Limit |
|---|---|
| Section 80C (EPF, PPF, LIC, ELSS, NSC, home loan principal, tuition fees) | Up to ₹1,00,000 |
| Section 80CCG — Rajiv Gandhi Equity Savings Scheme | 50% of investment, up to ₹25,000 (on ₹50,000 investment) |
| Section 80D — Health insurance premium | Up to ₹15,000 (₹20,000 for senior citizens) |
| Section 80TTA — Savings bank interest | Up to ₹10,000 |
| Section 80EE — First-home buyer (new) | Up to ₹1,00,000 for eligible loans |
| Section 87A rebate | ₹2,000 (income ≤ ₹5L) — new |
| HRA exemption | Least of: actual HRA, 50%/40% of basic salary, rent minus 10% basic |
| Transport allowance | ₹9,600/year (₹800/month) |
| Medical reimbursement | ₹15,000/year (with bills) |
| Standard deduction | Not applicable (introduced in FY 2018-19) |
Historical Slab Comparison: FY 2012-13 to FY 2014-15
| Feature | FY 2012-13 | FY 2013-14 | FY 2014-15 |
|---|---|---|---|
| Basic exemption (individual) | ₹2,00,000 | ₹2,00,000 | ₹2,50,000 |
| Senior citizen exemption | ₹2,50,000 | ₹2,50,000 | ₹3,00,000 |
| Super senior exemption | ₹5,00,000 | ₹5,00,000 | ₹5,00,000 |
| Section 87A rebate | Not available | ₹2,000 (income ≤ ₹5L) — introduced | ₹2,000 (income ≤ ₹5L) — continued |
| Surcharge (income > ₹1Cr) | Nil | 10% — reintroduced | 10% |
| Education cess | 3% | 3% | 3% |
| Section 80C limit | ₹1,00,000 | ₹1,00,000 | ₹1,50,000 — raised |
Frequently Asked Questions
What were the income tax slab rates for FY 2013-14 (AY 2014-15)?
For Financial Year 2013-14 (Assessment Year 2014-15), the income tax slab rates for individuals below 60 years were: Nil up to ₹2,00,000; 10% on ₹2,00,001 to ₹5,00,000; 20% on ₹5,00,001 to ₹10,00,000; and 30% on income above ₹10,00,000. Senior citizens (60-79 years) had a basic exemption of ₹2,50,000 and super senior citizens (80+ years) had a basic exemption of ₹5,00,000. Education cess was 3% on income tax payable.
Was Section 87A rebate available in FY 2013-14?
Yes — Section 87A was introduced for the first time in Budget 2013 (Finance Act 2013) and became effective from FY 2013-14 (AY 2014-15). The rebate was ₹2,000 for resident individuals with total income up to ₹5,00,000. This was the first time a statutory rebate was provided for low-income individuals under the Income Tax Act. The rebate was deducted from the tax payable (before cess), effectively making tax zero for incomes between ₹2 lakh and approximately ₹2.2 lakh (depending on exact calculations).
What was the surcharge on income tax in FY 2013-14?
In FY 2013-14, a surcharge of 10% was levied on the income tax payable by individuals, HUFs, AOPs, and BOIs with total income exceeding ₹1 crore. This was re-introduced after having been removed in earlier years. For domestic companies, the surcharge was 5% on income above ₹1 crore (10% above ₹10 crore). Marginal relief was available to ensure the net tax increase does not exceed the excess income over ₹1 crore.
What was the Commodities Transaction Tax (CTT) introduced in Budget 2013?
Commodities Transaction Tax (CTT) was introduced by Budget 2013 (Finance Act 2013), effective from 1 July 2013. CTT was levied on non-agricultural commodity futures contracts traded on recognised commodity exchanges in India, at a rate of 0.01% of the transaction value. The introduction brought commodity futures at par with equity futures (which were subject to STT). Agricultural commodities were exempted from CTT to avoid impacting food prices. CTT paid was allowed as a deduction under Section 36(1)(xvi) in computing business income.
What were the key Budget 2013 changes for individual taxpayers?
Key Budget 2013 changes for individual taxpayers applicable in FY 2013-14: (1) Section 87A rebate introduced — ₹2,000 rebate for income up to ₹5 lakh; (2) Surcharge of 10% reintroduced on income above ₹1 crore; (3) Commodities Transaction Tax (CTT) introduced at 0.01% on non-agricultural commodity futures; (4) Home loan deduction under Section 80EE introduced for first-time buyers (₹1 lakh for loans up to ₹25 lakh on property up to ₹40 lakh); (5) Deduction for life insurance premium maintained at 10% of sum assured; (6) Section 80C limit remained at ₹1,00,000 (raised to ₹1,50,000 only in FY 2014-15).
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