CA-CS-ICWA-TAX PROFESSIONALS-PORTAL- Income Tax Slab Rates for Resident of India F/Y 2012-13 AND F/Y 2011-12

UNIVERSAL KNOWLEDGE HUB

Financial Year 2012-13 Assessment Year 2013-14

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

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

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)    Financial Year 2011-12 Assessment Year 2012-13 A. Normal Tax Rates Total Income (Rs.) Tax Rate (%) Where total income does not exceed Rs. 1,80,000/- Nil Where total income exceeds Rs. 1,80,000 but does not exceed Rs. 5,00,000/- 10% of the amount by which total income exceeds Rs. 1,80,000/- Where total income exceeds Rs. 5,00,000/- but does not exceed Rs. 8,00,000/- Rs. 32,000/- plus 20% of the amount by which total income exceeds Rs. 5,00,000/- Where total income exceeds Rs. 8,00,000/- Rs. 92,000/- plus 30% of the amount by which total income exceeds Rs. 8,00,000/-  B. Tax Rates For Women Below 60 Years Total Income (Rs.) Tax Rate (%) Where total income does not exceed Rs. 1,90,000/- Nil Where total income exceeds Rs. 1,90,000/- but does not exceed Rs. 5,00,000/- 10% of the amount by which total income exceeds Rs. 1,90,000/- Where total income exceeds Rs. 5,00,000/- but does not exceed Rs. 8,00,000/- Rs. 31,000/- plus 20% of the amount by which total income exceeds Rs. 5,00,000/- Where total income exceeds Rs. 8,00,000/- Rs. 91,000/- plus 30% of the amount by which total income exceeds Rs. 8,00,000/- C. Tax Rates For Senior Citizens (Aged 60 Years But Less Than 80 Years) Total Income (Rs.) Tax Rate (%) Where total income does not exceed Rs. 2,50,000/- Nil Where total income exceeds Rs. 2,50,000/- but does not exceed Rs. 5,00,000/- 10% of the amount by which total income exceeds Rs. 2,50,000/- Where total income exceeds Rs. 5,00,000/- but does not exceed Rs. 8,00,000/- Rs. 25,000/- plus 20% of the amount by which total income exceeds Rs. 5,00,000/- Where total income exceeds Rs. 8,00,000/- Rs. 85,000/- plus 30% of the amount by which total income exceeds Rs. 8,00,000/- D. Tax Rates For Very Senior Citizens (Above 80 Years) Total Income (Rs.) Tax Rate (%) Where total income does not exceed Rs. 5,00,000/- Nil Where total income exceeds Rs. 5,00,000/- but does not exceed Rs. 8,00,000/- 20% of the amount by which total income exceeds Rs. 5,00,000/- Where total income exceeds Rs. 8,00,000/- Rs. 60,000/- plus 30% of the amount by which total income exceeds Rs. 8,00,000/- Surcharge is Nil                Education cess is applicable @ 3% on income tax in all cases