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

Author

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  • CA. Kalpesh Karia

    CA. Kalpesh Karia is a Fellow Chartered Accountant . He founded and developed this blog ' FinanceFriend.in ' in 2012. He regularly posts articles related to finance and taxation on his blog. As the name suggests, he is trying to be a Finance Friend and wants to give back to society what he has learned over the years. He shares knowledge based on his 18 years of experiences in areas like Finance, Accounts, Taxation, Forex & Treasury , Wealth Management & Financial Planning, Costing, SAP and Digital Transformation .

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