Thursday, November 24, 2011

INCOME TAX SLAB RATE FOR ASSESSMENT YEAR 2012 - 13 or FINANCIAL YEAR 2011-12 ( For Individual ,Age more than 80 Years ( Super Citizen ) )

Up to 500000 :    Nil
500001-800000 : 20%
800001 & above : 30%

Eg. 1)  Income of assessment year 2012-13. Rs. 500000
Income-tax(Including surcharge,EC & SHEC) on Rs. 0 is Rs. 0.00 
Surcharge Rs. 0.00 Education Cess Rs. 0.00 Secondary and Higher Education Cess Rs. 0.00

Eg. 2)  Income of assessment year 2012-13. Rs. 700000

Income-tax(Including surcharge,EC & SHEC) on Rs.40,000 is Rs. 41,200.00 
Surcharge Rs. 0.00 Education Cess Rs. 800.00 Secondary and Higher Education Cess Rs. 400.00

Eg. 3)  Income of assessment year 2012-13. Rs. 900000

Income-tax(Including surcharge,EC & SHEC) on Rs.90,000 is Rs. 92,700.00 
Surcharge Rs. 0.00 Education Cess Rs. 1,800.00 Secondary and Higher Education Cess Rs. 900.00

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