Wednesday, 16 January 2013

Income tax slab for 2012-13

Income tax slab for  2012-13


The new and revised income tax slabs and rates applicable for the financial year (FY) 2012-13 and assessment year (AY) 2013-14 are mentioned below:



New Income tax slab for fy 2012-13 / ay 2013-14
முதல் பிரிவு (பொது)
S. No.
Income Range
Tax percentage
1
Up to Rs 2,00,000
No tax / exempt
2
2,00,001 to 5,00,000
10%
3
5,00,001 to 10,00,000
20%
4
Above 10,00,000
30%
2வது பிரிவு (60 வயதிற்கு உட்பட பெண்கள்)
S. No.
Income Range
Tax percentage
1
Up to Rs 2,00,000
No tax / exempt
2
2,00,001 to 5,00,000
10%
3
5,00,001 to 10,00,000
20%

Above 10,00,000
30%
3வது பிரிவு (60 முதல் 80 வயதிற்கு உட்பட்ட மூத்த குடிமக்கள்)
1
Up to Rs 2,50,000
No tax / exempt
2
2,50,001 to 5,00,000
10%
3
5,00,001 to 10,00,000
20%

Above 10,00,000
30%
4வது பிரிவு (80 வயதை கடந்த மிக மூத்த குடிமக்கள்)
1
Up to Rs 5,00,000
No tax / exempt
2
5,00,001 to 10,00,000
20%
3
Above 10,00,000
30%

For normal category the simple calculation is as follows
Taxable Income in 10% slab maximum tax will be Rs 30000
Taxable Income in 20% slab maximum tax will be Rs 30000 + Rs 1,00,000 total Rs 1,30,000
Taxable Income in 30% slab minimum tax will be Rs Rs 1,30,000

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