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Thursday, November 24, 2011
INCOME TAX SLAB RATE FOR ASSESSMENT YEAR 2012 - 13 OR FINANCIAL YEAR 2011-12 ( Association of Persons (AOP) and Body of Individuals (BOI))
Up to 180000 : Nil
180001-500000 : 10%
500001-800000 : 20%
800001 & above : 30%
Eg. 1) Income of assessment year 2012-13. Rs. 180000.
Ans) 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. 190000.
Ans) Income-tax(Including surcharge,EC & SHEC) on Rs.1,000 is
Rs. 1,030.00
Surcharge Rs. 0.00 Education Cess Rs. 20.00 Secondary and Higher
Education Cess Rs. 10.00
Eg. 3) Income of assessment year 2012-13. Rs. 300000.
Ans) Income-tax(Including surcharge,EC & SHEC) on Rs.12,000
is Rs. 12,360.00
Surcharge Rs. 0.00 Education Cess Rs. 240.00 Secondary and
Higher Education Cess Rs. 120.00
Eg. 4) Income of assessment year 2012-13. Rs. 500000.
Ans) Income-tax(Including surcharge,EC & SHEC) on Rs.32,000
is Rs. 32,960.00
Surcharge Rs. 0.00 Education Cess Rs. 640.00 Secondary and
Higher Education Cess Rs. 320.00
Eg. 5) Income of assessment year 2012-13. Rs. 600000.
Ans) Income-tax(Including surcharge,EC & SHEC) on Rs.52,000
is Rs. 53,560.00
Surcharge Rs. 0.00 Education Cess Rs. 1,040.00 Secondary and
Higher Education Cess Rs. 520.00
Eg. 6) Income of assessment year 2012-13. Rs. 900000.
Ans) Income-tax(Including surcharge,EC & SHEC) on Rs.122,000
is Rs. 125,660.00
Surcharge Rs. 0.00 Education Cess Rs. 2,440.00 Secondary and Higher Education Cess Rs. 1,220.00
Surcharge Rs. 0.00 Education Cess Rs. 2,440.00 Secondary and Higher Education Cess Rs. 1,220.00
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