Friday, March 30, 2012

Income Tax Slabs for Financial Year 2012-13

Here’s the Income Tax Slabs for the financial year 2012-13, based on the budget presented by the Finance Minister on 16th March 2012.

Till 2,00,000 – 0%
2,00,001 ~ 5,00,000 – 10%
5,00,001 ~ 10,00,000 – 20%
Above 10,00,000 – 30%

Senior Citizen (Between 60 & 80 years)
Till 2,50,000 – 0%
2,50,001 ~ 5,00,000 – 10%
5,00,001 ~ 10,00,000 – 20%
Above 10,00,000 – 30%

Very Senior Citizen (Above 80 years)
Till 5,00,000 – 0%
5,00,001 ~ 10,00,000 – 20%
Above 10,00,000 – 30%

The Finance Minister didn’t mention about a separate tax slab for women. Either it is awaited or we will see that it is unified with the General category. I think the unification of tax slabs for men and women makes greater sense.

The first slab is raised from 1,80,000 to 2,00,000 leading to a maximum tax savings of 2,000 in this slab. People earning income between 8,00,000 and 10,00,000 are the biggest beneficiaries of the new tax slabs as this range of income moves from a 30% slab to 20% slab, resulting in a maximum tax savings of 20,000.

Overall, this is not a great relaxation for the income earning populace at a time when the cost of living has consistently been higher and is not showing any signs of cooling.

Related Articles
- India moving closer to adopt GST
- New Income Tax Slabs
- How does Short Term Capital Gain/Loss work?
- No proof required for LTA & Conveyance allowance claims
- How to file Income Tax returns online
- How to check whether your employer/financial institution have deposited your TDS?


«Oldest   ‹Older   201 – 225 of 225
Ayushi Jain said...

Thanks for sharing such a excellent blog.this really helpful.

finance write for us

BINOD Gautam said...

Thanks for sharing Great article. Hope all like it.
Also check out...
8 methods of job design

maxwellglenn353 said...

Gracefully written information on this blog are going to support me for my coming assignments. Every point was very clear and taught me few new parameters. I would like to use this information in coming future. small business finance

Wania Sheikh said...

Thanks for writing this, I will surely refer this to other people, do write more about Investments in Pakistan & Mutual funds in Pakistan.

Gloria Scott said...

i dont agree with your post

Porn Sex & Anel Sex Collection

Unknown said...

There is no doubt that Bangalore escorts have emerged as the best option to go with when it comes to catering the hidden requirements of men.
Bangalore escorts
Female Escort in Bangalore
Independent Escort in Bangalore
High profile escort in Bangalore
Russian Escort in Bangalore

Digital Marketing said...

Excellent information, I like your blog.

Current Political News in India

Latest Entertainment News in India

Bollywood News in India

Riya Sharma said...

Thank you for sharing such a useful informations. I really enjoyed while reading your article and it is good to know the latest updates. Do post more. Please also read my topics about

Tax Consultant in Mumbai
International tax consulting services
Top CA Firm in Mumbai
Top Audit firms in Mumbai
Risk Management Services
Taxation Regulatory & Advisory Services

Digital Marketing said...

Excellent information, I like your blog.

Current Political News in India

Latest Entertainment News in India

Bollywood News in India

Mark said...

Thanks for the post and your effort.
Form 2290

braincarve said...

nice post..Low Cost Franchise Opportunities in chennai
education franchise opportunities
franchise opportunities in chennai
franchise opportunities chennai said...

Canon Printer Tech Support Phone Number - Is it accurate to say that you are hunting down Canon printer bolster? Well, you have arrived on the correct page on the grounds that the Canon Printer Support Phone Number is presently accessible to fix all your printer related issues. Canon is a worldwide brand that is generally known for its printer segments at a sensible expense.

Canon fabricates such printers that satisfy all your printing necessities and gives you the best printing arrangements. Yet, here and there it can fall into a few issues and mistakes that can influence your work. To fix the issues, you can call us at our Canon Printer Support Phone Number and the help group will be there to help you in a matter of moments.

HP Printer Tech Support Phone Number | QuickBooks Tech Support Phone Number | Norton Tech Support Phone Number

Digital Marketing said...

Excellent information, I like your blog.

Latest Business News in UK

Breaking News in UK

Hollywood Celebrity News in UK

kristinahojholt said...

Thanks for all of your hard work on this site. Gloria really likes engaging in internet research and it's really easy to see why. We learn all regarding the dynamic method you give effective tips and tricks by means of this web site and recommend response from other ones on that situation so my child is undoubtedly becoming educated a lot of things. Enjoy the remaining portion of the year. You are always carrying out a very good job. τελευταιεσ ειδησεισ ελλαδα τωρα

Loan Offer said...

Do not use all of these Private Money Lender here.They are located in Nigeria, Ghana Turkey, France and Israel.My name is Mrs.Ramirez Cecilia, I am from Philippines. Have you been looking for a loan?Do you need an urgent personal or business loan?contact Fast Legitimate Loan Approval he help me with a loan of $78.000 some days ago after been scammed of $19,000 from a woman claiming to be a loan lender from Nigeria but i thank God today that i got my loan worth $78.000.Feel free to contact the company for a genuine financial call/whats-App Contact Number +918929509036 Email:(

Saru Rajput said...

Great blog forex trading is one of the most recommended way to earn money in this era. Click here to know Best ECN Forex Broker.

Anonymous said...

I want you to thank for your time of this wonderful read. I definitely enjoyed every little bit of it and I
Have you bookmarked to check out new stuff on your blog a must read blog.

Financial Adviser

Digital Marketing said...

Excellent information, I like your blog.

Hollywood Celebrity News in UK

Latest Business News in UK

Top 10 Business & Finance News in UK

Johny said...

Sarcastic CA

Chris Hardy said...

Thanks for sharing above information with me, can you please share this year 2018-2019 it will helpful for all.

Khetigaadi said...

Great news, escorts tractor models shares gained on Intraday.

Mantis Funding said...

I agree with your conclusions and looking forward to your coming updates. Thanks for sharing.

If the working capital corpus is low, or there are expansion plans, companies borrow money from lenders such as Mantis Funding to ensure they can stay on the growth path.

Martin said...

Working capital is important as it increases the operational efficacy of business organizations. It also increases their chances of profitability and growth as they get the funds to invest in equipment and personnel.
For more information you can visit at here- Mantis Funding

Ok said...

Nice post sir Click here

Andrian said...

Thanks for sharing your valuable information on this article. This post is helpful to many people.stocks4all is a stock related website which provides all stocks related information like new stocks and shares available in the stock market.
share market
tax in India

«Oldest ‹Older   201 – 225 of 225   Newer› Newest»