India – (Tax Exemption Limit) Income Tax Slab for the Financial Year 2012 – 2013

India – Income Tax Slab for the Financial Year 2012 – 2013

The government of India imposes an income tax on taxable income of individuals, Hindu Undivided Families (HUFs), companies, firms, co-operative societies and trusts (identified as body of individuals and association of persons) and any other artificial person. Levy of tax is separate on each of the persons. The levy is governed by the Indian Income Tax Act, 1961. The Indian Income Tax Department is governed by the Central Board for Direct Taxes (CBDT) and is part of the Department of Revenue under the Ministry of Finance, Government of India.

For General Tax Payers

Income tax slab (in INR)

Tax (%)

0 to 2,00,000

No tax

2,00,001 to 5,00,000

10%

5,00,001 to 10,00,000

20%

Above 10,00,000

30%

 

For Female Tax Payers

Income tax slab (in INR)

Tax (%)

0 to 2,00,000

No tax

2,00,001 to 5,00,000

10%

5,00,001 to 10,00,000

20%

Above 10,00,000

30%

 

For Senior Citizens (Aged 60 years but less than 80 years)

Income tax slab (in INR)

Tax (%)

0 to 2,50,000

No tax

2,50,001 to 5,00,000

10%

5,00,001 to 10,00,000

20%

Above 10,00,000

30%

 

For Very Senior Citizens (Aged 80 years and above)

Income tax slab (in INR)

Tax (%)

0 to 5,00,000

No tax

5,00,001 to 10,00,000

20%

Above 10,00,000

30%

 

 

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4 responses to this post.

  1. Posted by Shareef drassi on September 12, 2012 at 8:39 pm

    Must read b.b.a students

    Reply

  2. Posted by DEVENDER on June 30, 2012 at 7:45 pm

    good info.

    Reply

  3. Posted by Rajasekar on April 28, 2012 at 7:35 am

    Hai

    Reply

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