Income tax slab 2012 13 pdf

There will be no surcharge on income tax payments by individual taxpayers during fy 2012 ay 2014 2. Income tax rates for assessment year 200304 income slab rs. Income tax income tax rates ay 2012 fy 2011 referencer. Income tax rates slabs for the financial year 2011 2012 a. In the budget 20 announcement the tax slabs has been broadened for men and senior citizens by the indian finance ministry. The amount of income tax shall be increased by education cess on income tax at the rate of 2% percent of the income tax payable by both resident and nonresident assessees. Assessment year ay 2012 income tax slabs 2011 2012 for general tax payers income tax slab in rs. The amount of income tax shall be increased by education cess on income tax at the rate of two per cent of the income tax. The following it rates were applicable for the financial year ending march 31, 20. The amount of income tax shall be further increased by education cess of 3% on income tax.

Pranab mukherjee, the finance minister of india, announced the new personal income tax slab rates while presenting the union budget of india, also called the indian general budget, on monday, february 28, 2011 in new delhi. Income tax slab rates for last 25 years in india 199293. Now itr5 and itr6 has also been released in paper form. There are lot of changes in tax rates and cess in the last 25 years. This category is abolished from this year and is thus is same as that of. Click here to save tax with hdfc lifes various online insurance products. Full income tax slabs, education cess, surcharge and higher education cess for financial year 2012 are as follows. Income tax rates applicable for the financial year fy 2012 and assessment. Latest income tax slabs and rates for fy 2012 and as 2014. Income tax return form for assessment year 2012 has been released by income tax department. Income tax rates for fy financial year 2012 ay assessment year 2014,for individuals,men, women, senior citizens, hufs and other categories surcharge and education cess. Tax in the case of a salaried taxpayer shall be computed in accordance with sections 12, and 14 of income tax ordinance 2001, read with rules 3, 4, and 5 of income tax rules 2002. There will be no surcharge on income tax payments by individual taxpayers during fy 201112 ay 2012. Applicable to individual male below the age of 60 years and huf.

Following are the new income tax slab in the budget 2012 announced by ministry of finance, pakistan. Tax on salary as per budget 2012 saturday, june 2, 2012 tax slabs of salary income are proposed to be reduced from 17 to 5 in the finance bill 2012 which are as under. Use our free income tax calculator for getting an idea of how much tax you will be saving compared to last year per the latest tax rates. Tax exemption limit raised to rs 2 lakhs and tax rates has changed for other slabs too. From 2012, women were also a part of the general slab. Assessment year ay 2014 the latest income tax slab to calculate your tax for year 2012 20 based on budget 2012 budget. The slab of income tax rates for fy 2012 ay 2014 is to some extent different from that of slab of fy 1112 ay 2012. There will be no surcharge on income tax payments by individual taxpayers during fy 2012 ay 2014. For normal category the simple calculation is as follows. Another significant change in this budget was abolishing lower tax slab for women. Income tax slab ub 12 free download as powerpoint presentation. Income tax rates for financial year 2012 and ay 2014. Income tax rates applicable for individuals, hindu undivided family huf, association of persons aop and body of individuals boi in india is as under. Income tax rates after budget 2012 is available here income tax rate chart slabs for assessment year 201112 and earlier years has been given chart form as under in respect of individual, hufhindu undivided family,boibody of individuals so download the charts for link given below or you can read the same online as shown below.

We shall be now discussing on importance and income tax deductions under sections 80d, 80dd and 80ddb for the purpose of tax saving which this means that there will be no tax if total income of individual is up. Taxable income in 10% slab maximum tax will be rs 32000. In case of individual other than ii, iii and iv below and huf. Assessment year 2014, relevant to financial year 2012. These rates are applicable for filing tax return for all individuals i. Income tax rates for year 2014, 2012, 20112012, 20112011 for filing income tax returns in india for salaried and business income of individuals. Looking for the income tax slabs and rates for the financial year 2012 or assessment year 2014. This is the income tax slabs for financial year 2012 and the analysis year 2014. There are three categories in income tax slabs which is for individual, senior citizen and senior citizen with the age of 80 years and more. The amount of income tax shall be increased by education cess on income tax at the rate of two percent of the income tax. In india, we have a progressive method of taxation, this means the more your income is the more tax you will. Reorganizing the different income tax slabs and simplify overall tax. Income tax rates income tax slabs for assessment year 2012. Individual other than ii and iii below huf, aop, boi, artificial juridical person.

The amount of income tax as computed in accordance with above rates, and after being reduced by the amount of tax rebate shall be increased by a surcharge at the rate of 5% of such income tax, provided that the total income exceeds rs. Itr1 sahaj,itr2,itr3, itr4 and itr4s sugam has been released. Have a look at the past 25 years income tax slab rates for individuals in india. The good news is the income tax slabs has been altered by the finance minister pranab mukarjee in budget 2012 today. The amount of incometax shall be increased by education cess on income tax at the rate of two per cent of the incometax. Latest income tax slabs and rates for fy 2012 and as. Latest income tax slabs in india fy 201617 or as 201718. Income tax is one thing which every salaried man on the street is interested in. For individuals below 60 years age including woman assessees. As i have to urgently put up a claim to it dept for refund related to previous 20 years can you please send me the details of entire it slabs surcharge etc from 1991 upto date. Government of india income tax slab rates for ay 201220. Tax slab for financial year 201516 assessment year 1617. Income tax rates for year 2014, 2012 , 2011 2012, 20112011 for filing income tax returns in india for salaried and business income of individuals.

In case of individual other than ii and iii below and huf. Salient features of the amendments made in the income tax ordinance, 2001 through finance act, 2012 are explained as under. Income tax rates for assessment year 201112 all others male individuals, nris. Income tax slabs in budget 2012, new income tax slab 2012. Income tax ratesslabs for financial year 201112 assessment year 2012 exemptions, deduction capital gain, set off carry forward losses a small ready reckoned by. Income tax rates income tax slabs bihar chamber of commerce. Hdfc life provides the latest income tax slab rates and deductions in india for tax payers in different age groups and tax benefits offered by its online insurance products, for the financial year 2014. The new income tax rates or income tax slabs are applicable for the incomes earned or generated from april 01, 2011 to march 31, 2012.

Income tax slabs for filing tax return for individuals and hufs. Income tax rates for assessment year 2012 resident senior citizens above 80 years super senior citizens. Income tax rates slabs for the financial year 20112012 a. The following is the new income tax structure for the year 2012. Labels how to save money 1 investment plans 1 investment tips 2 investment tools 1 investments 9 money saving tips 1 save money 1 tax 18 tax deduction limits 1 tax saving 1. The income tax rates applicable for the financial year 2012 assessment year 2014 have been revised. The latest income tax slab to calculate your tax for year 2012 20 based on budget 2012 budget. Return form applicable to download excel utility 1. Watch out this space on 28th february for all the latest details about the tax slabs and their impact on your own budget. Use our free income tax calculator for getting an idea of how much tax you will be saving compared to last year per the latest tax. New income tax slab 201920budget 2019 find latest income tax slab rates in india for individuals, nri, huf, boi, aop, llp, local authority, cooperative society and company. Dear sir, i had read he report income tax slabs history in india which gives various details from 1991. Income tax slab for filing tax return on income in india.