Income tax slabs for AY 2012-2013 (FY 2011-12)

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.

Comments

  1. income tax slabs AY 2012/2013 and returns of business/professional/salaried

  2. K.S.Nayak says:

    I am 81 and tax payer.Kindlt inform me the cap for tax payment and other benefits as a senior ultra citizen.

  3. Ramesh Kohli says:

    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.

    • TheWealthWisher says:

      It amounts to short term capital gains for sure. Please consult a tax consultant for the calculations.

  4. G RANGARAJAN says:

    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.

  5. Praneet Bajpaie says:

    Well this budget was the absolute worst I have ever seen. Pranabda could at least have increased the tax slab to Rs.300000.

  6. Dear Sir,

    IF a NRI women is 35 years old what will be exemption limit to her 180k or 190k?

  7. 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

  8. Ramesh Kohli says:

    Is standard deduction allowed from salary? (Expenses on travelling to work and stationary etc,)

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