Income Tax Rates for financial year 2012-2013 (Assessment year: 2013-14)
Men
|
|
Upto Rs. 2,00,000
|
Nil
|
Rs. 2,00,001 to Rs. 5,00,000
|
10%
|
Rs. 5,00,001 to Rs. 10,00,000
|
20%
|
Above Rs. 10,00,000
|
30%
|
Women
|
|
Upto Rs. 2,00,000
|
Nil
|
Rs. 2,00,001 to Rs. 5,00,000
|
10%
|
Rs. 5,00,001 to Rs. 10,00,000
|
20%
|
Above Rs. 10,00,000
|
30%
|
Individual of 60 years or above (Senior Citizens)
|
|
Upto Rs. 2,50,000
|
Nil
|
Rs. 2,50,001 to Rs. 5,00,000
|
10%
|
Rs. 5,00,001 to Rs. 10,00,000
|
20%
|
Above Rs. 10,00,000
|
30%
|
Individual of 80 years or above (Very Senior Citizens)
|
|
Upto Rs. 5,00,000
|
Nil
|
Rs. 5,00,001 to Rs. 10,00,000
|
20%
|
Above Rs. 10,00,000
|
30%
|
As per budget presented on 28th Feb, 2011, Pranav Mukherjee proposed changes forincome tax rate slabs as per below.Apart from current one lakh investment, additional 20,000 Rs will be non-taxable, if it is invested in long term infrastructure bonds.