Income Tax Slabs: FY 2012 – 13
Slabs for Income tax rates are divided in following categories:
A. Individuals (Men & Women), HUF, AOP and BOI
B. Senior Citizens (80 years or above)
C. Partnership Firms
D. Domestic Companies
E. Foreign Companies
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[sociallocker id=”1679″]Thanks for sharing this post. Download Here [/sociallocker]Income Tax Slabs Rates
Following income tax rates apply for all incomes except Capital Gains
A. Tax Rates For Individuals (Men & Women), Hindu Undivided Families, Association of Persons and Body of Individuals | |
Total Income (Rs.) | Tax Rate (%) |
Upto Rs. 200,000* | Nil |
200,001 to 500,000 | 10 |
500,001 to 10,00,000 | 20 |
Above Rs. 10,00,000 | 30 |
*In the case of a resident individual of sixty years or more but less than eighty years, the basic exemption limit is Rs. 250,000 | |
The category of women below the age of 65 years has been removed |
B. Tax Rates For Senior Citizens (80 Years Or Above) | |
Total Income (Rs.) | Tax Rate (%) |
Upto Rs. 500,000* | Nil |
500,001 to 10,00,000 | 20 |
Above Rs. 10,00,000 | 30 |
Surcharge is Nil | |
Education cess is applicable @ 3% on income tax | |
Marginal relief may be available |
Computation of age – If an individual attains age of 60 or 80 during the year, then his age should be regarded as 60 or 80 as applicable.
C. Tax Rates For For Partnership Firms |
Tax Rate (%) |
Partnership Firms are taxable @ 30% |
Surcharge is Nil |
Education cess is applicable @ 3% on income tax |
D. Tax Rates For Domestic Companies |
Tax Rate (%) |
Domestic companies are taxable @ 30% |
Surcharge is applicable @ 5% if total income is in excess of Rs. 10,000,000 |
Education cess is applicable @ 3% on income tax (inclusive of surcharge, if any) |
E. Tax Rates For Foreign Companies |
Tax Rate (%) |
Foreign companies are taxable @ 40% |
Surcharge is applicable @ 2% if total income is in excess of Rs. 10,000,000 |
Education cess is applicable @ 3% on income tax (inclusive of surcharge, if any) |