Income Tax rates for FY 2012-13

Income Tax rates for FY 2012-13 (Financial Year 2012-13)and AY (Assessment Year)2013-14 as per Budget 2012.

Income Tax rates for FY 2012-13

Individuals/HUFs/AOPs/BOI/Artificial Judicial Person Co-operative Socities 
FOR RESIDENT MEN and WOMEN (Age less than or equal to 60 Years) Income Slab Rates (INR)Percentage
Income Slab Rates (INR)PercentageUpto 10,000NIL
Upto 2,00,000NIL10,000 to 20,00010%
2,00,001 to 5,00,00010%Above 20,00020%
5,00,001 to 10,00,00020%No surcharge will be levied in above cases 
Above 10,00,00030%  
    
FOR SENIOR CITIZENS (Age 60-80 Years) Firms 
Income Slab Rates (INR)PercentageIncome tax rates30%
Upto Rs. 2,50,000NILSurchargeNIL
2,50,001 to 5,00,00010%Education Cess2%
5,00,001 to 10,00,00020%Secondary and Higher Education Cess1%
Above 10,00,00030%  
    
FOR VERY SENIOR CITIZENS (Age Above 80 Years) Local Authorities 
Income Slab Rates (INR)PercentageIncome tax rates30%
Upto 5,00,000NILSurchargeNIL
5,00,001 to 10,00,00020%Education Cess2%
Above 10,00,00030%Secondary and Higher Education Cess1%
No surcharge will be levied in above cases  
Income Tax rates for FY(Financial Year) 2012-13 and AY (Assessment Year)2013-14
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