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Income tax slab rate AY 2012-13

Written By Views maker on Thursday, July 7, 2011 | 8:29 AM

 

The new and revised income tax slabs and rates applicable for the financial year (FY) 2011-12 and assessment year (AY) 2012-13 are mentioned below:

New Income tax slab for ay 12-13

New Income Tax Slabs for ay 12-13 for Resident Senior Citizens above 60 years (FY 2011-12)
S. No. Income Range Tax percentage
1 Up to Rs 2,50,000 No tax / exempt
2 2,50,001 to 5,00,000 10%
3 5,00,001 to 8,00,000 20%
4 Above 8,00,000 30%
New Income Tax Slabs for ay 12-13 for Resident Senior Citizens above 80 years (FY 2011-12)
S. No. Income Range Tax percentage
1 Up to Rs 5,00,000 No tax / exempt
2 5,00,001 to 8,00,000 20%
3 Above 8,00,000 30%
Income Tax Slabs for ay 12-13 for Resident Women (below 60 years) (FY 2011-12)
1 Up to Rs 1,90,000 No tax / exempt
2 1,90,001 to 5,00,000 10%
3 5,00,001 to 8,00,000 20%
4 Above 8,00,000 30%
New Income Tax Slabs for ay 12-13 Others & Men (FY 2011-12)
1 Up to Rs 1,80,000 No tax / exempt
2 1,80,001 to 5,00,000 10%
3 5,00,001 to 8,00,000 20%
4 Above 8,00,000 30%

For normal category the simple calculation is as follows

  • Taxable Income in 10% slab maximum tax will be Rs  32000
  • Taxable Income in 20% slab maximum tax will be Rs  32000 + Rs 60000 total Rs 92000
  • Taxable Income in 30% slab minimum tax will be Rs  92000

Education and other cess will be in addition to this

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