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) | Percentage | Upto 10,000 | NIL |
| Upto 2,00,000 | NIL | 10,000 to 20,000 | 10% |
| 2,00,001 to 5,00,000 | 10% | Above 20,000 | 20% |
| 5,00,001 to 10,00,000 | 20% | No surcharge will be levied in above cases | |
| Above 10,00,000 | 30% | ||
| FOR SENIOR CITIZENS (Age 60-80 Years) | Firms | ||
| Income Slab Rates (INR) | Percentage | Income tax rates | 30% |
| Upto Rs. 2,50,000 | NIL | Surcharge | NIL |
| 2,50,001 to 5,00,000 | 10% | Education Cess | 2% |
| 5,00,001 to 10,00,000 | 20% | Secondary and Higher Education Cess | 1% |
| Above 10,00,000 | 30% | ||
| FOR VERY SENIOR CITIZENS (Age Above 80 Years) | Local Authorities | ||
| Income Slab Rates (INR) | Percentage | Income tax rates | 30% |
| Upto 5,00,000 | NIL | Surcharge | NIL |
| 5,00,001 to 10,00,000 | 20% | Education Cess | 2% |
| Above 10,00,000 | 30% | Secondary and Higher Education Cess | 1% |
| No surcharge will be levied in above cases |
