PLEASE CLICK HERE FOR LATEST PERSONAL INCOME TAX RATES
Income Tax Rates applicable for Individuals, Hindu Undivided Family (HUF), Association of Persons (AOP) and Body of Individuals (BOI) in India is as under:
Assessment Year 2012-13, Relevant to Financial Year 2011-12
For Individuals below 60 years age, other than Woman Assessees:
|
Income
|
Tax Rate
|
|
Upto 180,000
|
Nil
|
|
180,000 to 500,000
|
10% of the amount exceeding 180,000
|
|
500,000 to 800,000
|
Rs.32,000 + 20% of the amount exceeding 500,000
|
|
800,000 & above
|
Rs.92,000 + 30% of the amount exceeding 800,000
|
For Woman Assessees below 60 years:
|
Income
|
Tax Rate
|
|
Upto 190,000
|
Nil
|
|
190,000 to 500,000
|
10% of the amount exceeding 190,000
|
|
500,000 to 800,000
|
Rs.31,000 + 20% of the amount exceeding 500,000
|
|
800,000 & above
|
Rs.91,000 + 30% of the amount exceeding 800,000
|
For Individuals aged 60 years and above but below 80 years (Senior Citizen):
|
Income
|
Tax Rate
|
|
Upto 250,000
|
Nil
|
|
250,000 to 500,000
|
10% of the amount exceeding 250,000
|
|
500,000 to 800,000
|
Rs.25,000 + 20% of the amount exceeding 500,000
|
|
800,000 & above
|
Rs.85,000 + 30% of the amount exceeding 800,000
|
For Individuals aged 80 years and above (Very Senior Citizen):
|
Income
|
Tax Rate
|
|
Upto 500,000
|
Nil
|
|
500,000 to 800,000
|
20% of the amount exceeding 500,000
|
|
800,000 & above
|
Rs.60,000 + 30% of the amount exceeding 800,000
|
Surcharge on Income Tax: Nil
Education Cess: 3% of Income Tax plus Surcharge
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