Income Tax Rates/ Slabs  for the financial year 2011-2012 (A.Y. 2012-2013) for Individual, HUF, woman, senior citizen and senior citizen of 80 Years and more

RATES OF INCOME-TAX

A. Normal Rates of tax: Applicable to Individual Male below the Age of 60 Years and HUF

   1.  Where the total income does not exceed Rs. 1,80,000/-. Nil
   2.  Where the total income exceeds Rs. 1,80,000 but does not exceed Rs. 5,00,000/- 10 per cent of the amount by which the total income exceeds Rs. 1,80,000/-
   3.  Where the total income exceeds Rs. 5,00,000/- but does not exceed Rs. 8,00,000/-. Rs. 32,000/- plus 20 per cent of the amount by which the total income exceeds Rs. 5,00,000/-.
   4.  Where the total income exceeds Rs. 8,00,000/-. Rs. 92,000/- plus 30 per cent of the amount by which the total income exceeds Rs. 8,00,000/-.

B. Rates of tax for a woman, resident in India and below sixty years of age at any time during the financial year:

   1.  Where the total income does not exceed Rs. 1,90,000/-. Nil
   2.  Where the total income exceeds Rs. 1,90,000 but does not exceed Rs. 5,00,000/-. 10 per cent, of the amount by which the total income exceeds Rs. 1,90,000/-
   3.  Where the total income exceeds Rs. 5,00,000/- but does not exceed Rs. 8,00,000/-. Rs. 31,000/- plus 20 per cent of the amount by which the total income exceeds Rs. 5,00,000/-.
   4.  Where the total income exceeds Rs. 8,00,000/-. Rs. 91,000/- plus 30 per cent of the amount by which the total income exceeds Rs. 8,00,000/-.

C. Rates of tax for an individual, resident in India and of the age of sixty years or more but less than eighty years at any time during the financial year:

   1.  Where the total income does not exceed Rs. 2,50,000/-. Nil
   2.  Where the total income exceeds Rs. 2,50,000 but does not exceed Rs. 5,00,000/-. 10 per cent, of the amount by which the total income exceeds Rs. 2,50,000/-
   3.  Where the total income exceeds Rs. 5,00,000/- but does not exceed Rs. 8,00,000/-. Rs. 25,000/- plus 20 per cent of the amount by which the total income exceeds Rs. 5,00,000/-.
   4.  Where the total income exceeds Rs. 8,00,000/-. Rs. 85,000/- plus 30 per cent of the amount by which the total income exceeds Rs. 8,00,000/-.

D. In case of every individual being a resident in India, who is of the age of eighty years or more at any time during the financial year:

   1.  Where the total income does not exceed Rs. 5,00,000/- Nil
   2.  Where the total income exceeds Rs. 5,00,000/- but does not exceed Rs. 8,00,000/- 20 per cent of the amount by which the total income exceeds Rs. 5,00,000/-
   3.  Where the total income exceeds Rs. 8,00,000/- Rs. 60,000/- plus 30 per cent of the amount by which the total income exceeds Rs. 8,00,000/-

Surcharge on Income tax:

There will be no surcharge on income tax payments by individual taxpayers during FY 2011-12 (AY 2012-13).

Education Cess on Income tax:

The amount of income-tax shall be increased by Education Cess on Income Tax at the rate of two percent of the income-tax.

Additional surcharge on Income Tax (Secondary and Higher Education Cess on Income-tax):

From Financial Year 2007-08 onwards, an additional surcharge is chargeable at the rate of one percent of income-tax (not including the Education Cess on income tax).

Education Cess, and Secondary and Higher Education Cess are payable by both resident and non-resident assessees.

 ALSO READ
S.NO. INCOME TAX SLAB
INCOME TAX CALCULATORS
1. Income Tax Slabs for FY 2016-17 / AY 2017-18
2. Income Tax Slab for FY 2015-16 AY 2016-17
3. Income Tax Slab for FY 2014-15 AY 2015-16
4.
5.  Income tax Slab for FY 2012-13 / AY 2013-14 Income Tax Calculator FY 2012-13 / AY 2013-14
6. Income tax calculator for FY 2006-07 to FY 2016-17
7. Income Tax Slab Rates from AY 1992-93 to AY 2015-16

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0 Comments

  1. sunita says:

    What are the Income Tax Rates / Slabs for Non Resident Women Assessees of Age less than 60 years for FY 2010-11 (AY 2011-12) and FY 2011-12 (AY 2012-13) ?

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