Here are the income tax slabs for AY 2012-2013 (FY 2011-12).
Income Tax Slabs – AY 2012-2013
| Income Tax Slabs – AY 2012-2013 | ||
| Tax Slabs (in Rs) | Income tax | |
| Indian Male/NRI/HUF | 0 to 1,80,000 | NIL |
| 1,80,001 to 5,00,000 | 10% | |
| 5,00,001 to 8,00,000 | 20% | |
| Above 8,00,000 | 30% | |
| Women | 0 to 1,90,000 | NIL |
| 1,90,001 to 5,00,000 | 10% | |
| 5,00,001 to 8,00,000 | 20% | |
| Above 8,00,000 | 30% | |
| Senior Citizen (>60 yrs) | 0 to 2,50,000 | NIL |
| 2,50,001 to 5,00,000 | 10% | |
| 5,00,001 to 8,00,000 | 20% | |
| Above 8,00,000 | 30% | |
Significant changes :
-
No increase in base income tax slabs for women, increase only for men and senior citizens.
-
Senior citizens age has been reduced to 60 years from 65 years.
-
People above 80 years of age to be included in the new category called ’Very Senior Citizen’ category.
income tax slabs AY 2012/2013 and returns of business/professional/salaried
I am 81 and tax payer.Kindlt inform me the cap for tax payment and other benefits as a senior ultra citizen.
@K.S.Nayak, Check this –
http://www.thewealthwisher.com/2011/05/04/income-tax-slabs-for-ay-2012-2013-fy-2011-12/
@K.S.Nayak,
Good to see you here, at 81 you are net savvy and eager to learn more.
Hopefully a day will come when senior citizens over 75 need not pay any taxes.
@K.S.Nayak, Unfortunately no change in tax slabs for senior and very senior citizens in this budget from last year.
I have purchased a plot in FY 2011-11. and have statarted building a house on it in 2011-12. Am going sell my esidential house in 2012-13 (FY).
How do I reflect the transaction in my IT for FY 2011-12.
It amounts to short term capital gains for sure. Please consult a tax consultant for the calculations.
I am told the 20% tax slab is from Rs. 500000 to 10,00,000.
please clarify and update the chart.
@Rangarajan,
Yes, you are right….
India Income tax slabs 2012-2013 for General tax payers
Income tax slab (in Rs.) 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%
In case of senior citizen (60-80 yrs): -
Income tax slab (in Rs.) 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%
Very senior (80+): -
Income tax slab (in Rs.) Tax
0 to 5,00,000 No tax
5,00,001 to 10,00,000 20%
Above 10,00,000 30%
Guys, the above that you have put is for FY 2012-13 or AY 2013-14. The above data that I have put originally is still correct as it is for AY 2012-2013 (FY 2011-12). Right ?
What I have put above is for FY 2012-13.
What you have put in the article is for previous FY, so yes it is correct.
Well this budget was the absolute worst I have ever seen. Pranabda could at least have increased the tax slab to Rs.300000.
We had a good amount of discussion on this in comment section of below article. You may have a look if you want: -
http://www.thewealthwisher.com/2012/03/16/union-budget-2012-13-highlights/
Dear Sir,
IF a NRI women is 35 years old what will be exemption limit to her 180k or 190k?
@Sadashiv,
For an NRI earning income in India, right?
190K will be the limit.
i have business income from proprietary concern & can i am claim HRA 24000 in yearly in computation of income. how much amount claim any limit is there.for F.Y 2011-12