Scribd Logo
Upload

Welcome to Scribd!

  • Tax Rates

    Uploaded by

    Haneef Shaik
    16 views3 pages
    This document outlines income tax rates in India for assessment years 2012-2013 and 2011-2012. It provides tax rates for various categories of individuals including resident women, senior citizens, super senior citizens, and individuals under other categories. It also provides tax rates for firms, domestic and foreign companies, cooperative societies, and local authorities. Tax rates vary from nil to 30% depending on the income level and category of assessee. Surcharge and education cess are also levied in addition to income tax for some categories.

    Original Description:

    Original Title

    Tax rates

    Copyright

    © Attribution Non-Commercial (BY-NC)

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document
    This document outlines income tax rates in India for assessment years 2012-2013 and 2011-2012. It provides tax rates for various categories of individuals including resident women, senior citizens, super senior citizens, and individuals under other categories. It also provides tax rates for firms, domestic and foreign companies, cooperative societies, and local authorities. Tax rates vary from nil to 30% depending on the income level and category of assessee. Surcharge and education cess are also levied in addition to income tax for some categories.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    16 views3 pages

    Tax Rates

    Uploaded by

    Haneef Shaik
    This document outlines income tax rates in India for assessment years 2012-2013 and 2011-2012. It provides tax rates for various categories of individuals including resident women, senior citizens, super senior citizens, and individuals under other categories. It also provides tax rates for firms, domestic and foreign companies, cooperative societies, and local authorities. Tax rates vary from nil to 30% depending on the income level and category of assessee. Surcharge and education cess are also levied in addition to income tax for some categories.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    of 3

    Rates of Income Tax

    Assessment year : 2012 - 13 Previous year : 2011 - 12 Assessment year : 2011 - 12 Previous year : 2010 - 11

    1. For resident women below the age of 60 years. Upto Rs. 1,90,000 Nil

    1. For resident women below the age of 65 years. Upto Rs. 1,90,000 Nil

    Rs. 1,90,001 to Rs. 5,00,000 10% Rs. 5,00,001 to Rs. 8,00,000 20% Above Rs. 8,00,000 30%

    Rs. 1,90,001 to Rs. 5,00,000 10% Rs. 5,00,001 to Rs. 8,00,000 20% Above Rs. 8,00,000 30%

    2. For resident Senior Citizens. (Age above 60 Years) Up to Rs 2,50,000 Nil

    2. For resident Senior Citizens. (Age above 65 Years) Upto Rs 2,40,000 Nil

    Rs. 2,50,001 to Rs. 5,00,000 10% Rs. 5,00,001 to Rs. 8,00,000 20% Above Rs. 8,00,000 30%

    Rs. 2,40,001 to Rs. 5,00,000 10% Rs. 5,00,001 to Rs. 8,00,000 20% Above Rs. 8,00,000 30%

    3. For resident Super Senior Citizens. (Age above 80 Years)

    Up to Rs 5,00,000

    Nil

    Rs. 5,00,001 to Rs. 8,00,000 20% Above Rs. 8,00,000 30% 3. Individuals, [other than those mentioned above, HUF, AOP/BOI (other than co-operative societies). Upto Rs. 1,60,000 Nil

    4. Individuals, [other than those mentioned above, HUF, AOP/BOI (other than co-operative societies). Upto Rs. 1,80,000 Nil

    Rs. 1,80,001 to Rs. 5,00,000 10% Rs. 5,00,001 to Rs 8,00,000 Above Rs. 8,00,000 20% 30%

    Rs. 1,60,001 to Rs. 5,00,000 10% Rs. 5,00,001 to Rs 8,00,000 Above Rs. 8,00,000 20% 30%

    Surcharge : NIL Education Cess : 2% on income-tax plus surcharge. Secondary and Higher Education cess : 1% on income-tax plus surcharge Long-Term Capital Gains: 20% on income-tax plus surcharge. Short-Term Capital Gains u/s 111A:15% on income-tax plus surcharge.

    Surcharge : NIL Education Cess : 2% on income-tax plus surcharge. Secondary and Higher Education cess : 1% on income-tax plus surcharge Long-Term Capital Gains: 20% on income-tax plus surcharge. Short-Term Capital Gains u/s 111A:15% on income-tax plus surcharge.

    Firms Income tax : 30%. Surcharge : NIL Education Cess : 2% on income-tax plus surcharge Secondary and Higher Education cess : 1% on income-tax plus surcharge Companies (A) Domestic Companies Income tax : 30% Surcharge: 5% if the taxable income exceeds Rs. 100,00,000. Education Cess: 2% on income-tax plus surcharge. Secondary and Higher Education cess : 1% on income-tax plus surcharge (B) Foreign Companies Income tax : 40% (in general ) 50% on royalty or fee for technical services (agreement 1.04.1961 to 31.03.1976.) Surcharge : Education Cess : Secondary and Higher Education cess : 1% on income-tax plus surcharge 2% if the taxable income exceeds Rs. 100,00,000. 2% on income-tax plus surcharge

    Firms Income tax : 30%. Surcharge : NIL Education Cess : 2% on income-tax plus surcharge Secondary and Higher Education cess : 1% on income-tax plus surcharge Companies (A) Domestic Companies Income tax : 30% Surcharge: 7.5% if the taxable income exceeds Rs. 100,00,000. Education Cess: 2% on income-tax plus surcharge. Secondary and Higher Education cess : 1% on income-tax plus surcharge (B) Foreign Companies Income tax : 40% (in general ) 50% on royalty or fee for technical services (agreement 1.04.1961 to 31.03.1976.) Surcharge : Education Cess : Secondary and Higher Education cess : 1% on income-tax plus surcharge 2% if the taxable income exceeds Rs. 100,00,000. 2% on income-tax plus surcharge

    Cooperative Societies Upto Rs. 10,000 10%

    Cooperative Societies Upto Rs. 10,000 10%

    Rs. 10,001 to Rs. 20,000 20% Rs. 20,001 to Above 30%

    Rs. 10,001 to Rs. 20,000 20% Rs. 20,001 to Above 30%

    Surcharge : Surcharge Is Not Applicable Education Cess : 2% on income-tax. Secondary And Higher EducationCess : 1% on income tax plus surcharge

    Surcharge : Surcharge Is Not Applicable Education Cess : 2% on income-tax. Secondary And Higher EducationCess : 1% on income tax plus surcharge

    Local Authorities Income tax : 30%. Surcharge : NIL Education Cess : 2% on income-tax plus surcharge. Secondary and Higher Education cess : 1% on income-tax plus surcharge

    Local Authorities Income tax : 30%. Surcharge : NIL Education Cess : 2% on income-tax plus surcharge. Secondary and Higher Education cess : 1% on income-tax plus surcharge

    You might also like