Checkout latest Income Tax Rate Chart for financial year 2012 – 2013 for men, women, senior citizens.
A. Normal Rates of tax
| Income Amount | Tax Liability |
|---|
| 1. The Total Income is less than Rs. 2,00,000/-. | Nil |
| 2. The Total Income is between Rs. 2,00,000/- and Rs. 5,00,000/- | 10 per cent of the amount by which the total income exceeds Rs.2,00,000/- |
| 3. The Total Income is between Rs. 5,00,000/- and Rs. 10,00,000/-. | Rs. 30,000/- plus 20 per cent of the amount by which the total income exceeds Rs. 5,00,000/-. |
| 4.The Total Income exceeds Rs. 10,00,000/-. | Rs. 130,000/- plus 30 per cent of the amount by which the total income exceeds Rs. 10,00,000/-. |
B. Rates of tax for a woman, resident in India and below sixty years of age at any time during the financial year
| Income Amount | Tax Liability |
|---|
| 1. The Total Income is less than Rs.2,00,000/-. | Nil |
| 2. The Total Income is between Rs. 2,00,000/- and Rs. 5,00,000/- | 10 per cent, of the amount by which the total income exceeds Rs. 2,00,000/- |
| 3. The Total Income is between Rs. 5,00,000/- and Rs. 10,00,000/- | Rs. 30,000/- plus 20 per cent of the amount by which the total income exceeds Rs. 5,00,000/-. |
| 4.The Total Income exceeds Rs. 10,00,000/-. | Rs. 130,000/- plus 30 per cent of the amount by which the total income exceeds Rs. 10,00,000/-. |
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
| Income Amount | Tax Liability |
|---|
| 1. The Total Income is less than Rs.2,50,000/- | Nil |
| 2. The Total Income is between Rs. 2,50,000/- and Rs. 5,00,000/- | 10 per cent, of the amount by which the total income exceeds Rs. 2,50,000/- |
| 3. The Total Income is between Rs. 5,00,000/- and Rs. 10,00,000/- | Rs. 25,000/- plus 20 per cent of the amount by which the total income exceeds Rs. 5,00,000/-. |
| 4.The Total Income exceeds Rs. 10,00,000/-. | Rs. 125,000/- plus 30 per cent of the amount by which the total income exceeds Rs. 10,00,000/-. |
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
| Income Amount | Tax Liability |
|---|
| 1. The Total Income is less than Rs.5,00,000/-. | Nil |
| 2. The Total Income is between Rs. 5,00,000/- and Rs. 10,00,000/- | 20 per cent of the amount by which the total income exceeds Rs. 5,00,000/- |
| 3.The Total Income exceeds Rs.10,00,000/- | Rs. 1,00,000/- plus 30 per cent of the amount by which the total income exceeds Rs.10,00,000/- |
