Income Tax rates After Budget 2012-13 is available here Income tax rate chart /slabs for Assessment year 2011-12 and earlier years has be...
Income Tax rates After Budget 2012-13 is available here
Income tax rate chart /slabs for Assessment year 2011-12 and earlier years has been given chart form as under in respect of Individual , HUF(hindu undivided Family) ,BOI(body of individuals) ..So download The charts for Link given below or you can read the same online as shown below
INCOME TAX RATES FOR AY 2006-07 TO AY 2011-12 FOR INDIVIDUAL ,HUF ,BOI,AOP
Tags:INCOME TAX RATES CHART AY 2011-12 INCOME TAX RATES CHART AY 2010-11 INCOME TAX RATES CHART AY 2009-10 INCOME TAX RATES CHART AY 08-09 INCOME TAX RATES CHART AY 2007-08 INCOME TAX RATES CHART AY 2006-07 ,TAX RATES FOR INDIVIDUALS ,TAX RATE FOR HUF ,TAX RATES FOR BOI, TAX RATES FOR COMPANIES,
Income tax rate chart /slabs for Assessment year 2011-12 and earlier years has been given chart form as under in respect of Individual , HUF(hindu undivided Family) ,BOI(body of individuals) ..So download The charts for Link given below or you can read the same online as shown below
As per the Finance Act, 2011, income-tax rates for the financial year 2011-2012 (i.e. Assessment Year 2012-2013) for individual,BOI,AOP,HUF is given as under.
Income Tax rates After Budget 2012-13 is available here
Income Tax rates After Budget 2012-13 is available here
RATES OF INCOME-TAX
A. Normal Rates of tax:
1. Where the total income does not exceed Rs. 1,80,000/-.
|
Nil
|
2. Where the total income exceeds Rs. 1,80,000 but does not exceed Rs. 5,00,000/-
|
10 per cent of the amount by which the total income exceeds Rs. 1,80,000/-
|
3. Where the total income exceeds Rs. 5,00,000/- but does not exceed Rs. 8,00,000/-.
|
Rs. 32,000/- plus 20 per cent of the amount by which the total income exceeds Rs. 5,00,000/-.
|
4. Where the total income exceeds Rs. 8,00,000/-.
|
Rs. 92,000/- plus 30 per cent of the amount by which the total income exceeds Rs. 8,00,000/-.
|
B. Rates of tax for a woman, resident in India and below sixty years of age at any time during the financial year:
1. Where the total income does not exceed Rs. 1,90,000/-.
|
Nil
|
2. Where the total income exceeds Rs. 1,90,000 but does not exceed Rs. 5,00,000/-.
|
10 per cent, of the amount by which the total income exceeds Rs. 1,90,000/-
|
3. Where the total income exceeds Rs. 5,00,000/- but does not exceed Rs. 8,00,000/-.
|
Rs. 31,000/- plus 20 per cent of the amount by which the total income exceeds Rs. 5,00,000/-.
|
4. Where the total income exceeds Rs. 8,00,000/-.
|
Rs. 91,000/- plus 30 per cent of the amount by which the total income exceeds Rs. 8,00,000/-.
|
C. Rates of tax for an individual, resident in India and of the age of sixty years or more but less than eighty years at any time during the financial year:
1. Where the total income does not exceed Rs. 2,50,000/-.
|
Nil
|
2. Where the total income exceeds Rs. 2,50,000 but does not exceed Rs. 5,00,000/-.
|
10 per cent, of the amount by which the total income exceeds Rs. 2,50,000/-
|
3. Where the total income exceeds Rs. 5,00,000/- but does not exceed Rs. 8,00,000/-.
|
Rs. 25,000/- plus 20 per cent of the amount by which the total income exceeds Rs. 5,00,000/-.
|
4. Where the total income exceeds Rs. 8,00,000/-.
|
Rs. 85,000/- plus 30 per cent of the amount by which the total income exceeds Rs. 8,00,000/-.
|
D. In case of every individual being a resident in India, who is of the age of eighty years or more at any time during the financial year:
1. Where the total income does not exceed Rs. 5,00,000/-
|
Nil
|
2. Where the total income exceeds Rs. 5,00,000/- but does not exceed Rs. 8,00,000/-
|
20 per cent of the amount by which the total income exceeds Rs. 5,00,000/-
|
3. Where the total income exceeds Rs. 8,00,000/-
|
Rs. 60,000/- plus 30 per cent of the amount by which the total income exceeds Rs. 8,00,000/-
|
- Surcharge on Income tax: There will be no surcharge on income tax payments by individual taxpayers during FY 2011-12 (AY 2012-13).
- Education Cess on Income tax: The amount of income-tax shall be increased by Education Cess on Income Tax at the rate of two percent of the income-tax.
- Additional surcharge on Income Tax (Secondary and Higher Education Cess on Income-tax):From Financial Year 2007-08 onwards, an additional surcharge is chargeable at the rate of one percent of income-tax (not including the Education Cess on income tax).
- Education Cess, and Secondary and Higher Education Cess are payable by both resident and non-resident assessees.
DEDUCTIONS FROM GROSS TOTAL INCOME (CHAPTER VIA):
Sl.No.
|
I.T. Sec.
|
Nature of Deduction
|
Amount of deduction
|
1.
a.
b.
c.
|
80 CCE
80 C
80 CCC
|
Limit on Deduction u/s.80C, 80CCC & 80CCD
Life Insurance Premia, PF, PPF, NSC, ELSS, Units of Mutual Fund referred to u/s.10(23D), Tuition Fees(max. 2 Children), Repayment of Principal of Housing loan, Bank Fixed Deposit of 5 yrs period, notified Bonds of NABARD, Deposit in an account under Senior Citizens Savings Scheme rules, 5 year time deposit in an account under Post Office Time Deposit Rules, 1981 etc. Premium paid towards approved Pension Fund (like LIC’s Jeevan Suraksha) max. 1 lakh. Contribution to Central Government Pension Schemes. Upto 10% of salary with matching contribution from Government. |
Maximum overall
Deductions
allowed u/s. 80C,
80CCC & 80CCD
is Rs. 1,00,000
(Employer contribution is deductible without any limit from fy 2011-12) |
2.
|
Amount paid/deposited as subscription to long-term infrastructure bonds being notified by the Central Government.
|
Rs. 20,000
| |
3.
|
(a) Medical Insurance Premium paid by an individual/HUF by any mode of payment other than cash to effect or keep in force an insurance on the health of the assessee(self) or his family(spouse & dependent children) for policies taken from General Insurance Corporation /other approved Insurance Regulatory and Development Authority or any contribution made to the Central Government Health Scheme.
(b) Medical Insurance Premium paid by an individual/HUF by any mode of payment other than cash to effect or keep in force an insurance on the health of his/her parent or parents for policies taken from General Insurance Corporation /other approved Insurance Regulatory and Development Authority or any contribution made to the Central Government Health Scheme.
(c) For Senior Citizens
|
Upto Rs.15,000
Upto Rs.15,000
Upto Rs.20,000
| |
3.
|
(a) Any expenditure for Medical, Nursing & Rehabilitation incurred on dependant suffering from permanent disability including blindness, mental retardation, autism, cerebral palsy or multiple disabilities
(b) Deposits under LIC, UTI’s Scheme & other IRDA approved insurers for the benefit of physically handicapped dependent |
Rs.50,000 (Rs.1,00,000 if the disability is severe exceeding 80%)
| |
4.
|
(a) Actual expenditure incurred on Medical treatment of Self or dependant or a member of HUF suffering from terminal diseases like Cancer, AIDS, Renal failure etc.
(b) For Senior Citizens(self or dependent on whom expenditure on medical treated is taken)
|
Upto Rs.40,000
Upto Rs.60,000
| |
5.
|
Interest on loan taken from Financial/Charitable Institutions for Self/Spouse/Children for pursuing Higher Education (for a max. period of 8 yrs)
|
Actual Interest repaid
| |
6.
|
(a) Donations made to National Defence Fund, Prime Minister’s Relief Fund, approved Funds of reputed Educational Institutions, National Trust for Welfare of persons with Autism, Cerebral Palsy etc.
(b) Donations made to Jawaharlal Memorial Fund, PM’s Drought Relief fund, Any approved Charitable Institution/Trust, Religious Institutions, a corporation established by the Government for promoting interest of the members of a Minority Community
|
100% of Donation
50% of Donation restricted to 10% of Adjusted Gross Total Income
| |
7.
|
Deduction in respect of rents paid, provided the assessee is not in receipt of HRA and no house is owned by self, spouse, minor child or HUF in the place of work subject to filing of declaration in Form No.10BA
|
25% of income
or rent paid in excess of 10% of income or ceiling of Rs.24,000 p.a whichever is less | |
8.
|
80 U
|
Persons suffering from Permanent Physical Disability as specified in Rule 11D
|
Rs.50,000 (Rs.1,00,000 in case of severe disability)
|
INCOME TAX RATES FOR AY 2006-07 TO AY 2011-12 FOR INDIVIDUAL ,HUF ,BOI,AOP
Assessment year
|
Rate
|
Resident woman
|
Resident Sr citizen
|
General/others
|
2011-12
|
Nil
|
Up to 190000
|
Up to 240000
|
Up to 160000
|
10%
|
190000-500000
|
240000-500000
|
160000-500000
| |
20%
|
500000-800000
|
500000-800000
|
500000-800000
| |
30%
|
Above 800000
|
Above 800000
|
Above 800000
| |
Surcharge: NIL
| ||||
Cess: 3% on Income Tax (2 % education cess ,1% Higher secondary cess)
| ||||
2010-11
|
Nil
|
Up to 190000
|
Up to 240000
|
Up to 160000
|
10%
|
190000-300000
|
240000-300000
|
160000-300000
| |
20%
|
300000-500000
|
300000-500000
|
300000-500000
| |
30%
|
Above 500000
|
Above 500000
|
Above 500000
| |
Surcharge: NIL
| ||||
Cess: 3% on Income Tax (2 % education cess ,1% Higher secondary cess)
| ||||
2009-10
|
Nil
|
Up to 180000
|
Up to 225000
|
Up to 150000
|
10%
|
180000-300000
|
225000-300000
|
150000-300000
| |
20%
|
300000-500000
|
300000-500000
|
300000-500000
| |
30%
|
Above 500000
|
Above 500000
|
Above 500000
| |
Surcharge: 10 % on Income Tax if income Exceeding Rs 10,00,000
| ||||
Cess: 3% on Income Tax & surcharge (2 % education cess ,1% Higher secondary cess)
| ||||
2008-09
|
Nil
|
Up to 145000
|
Up to 195000
|
Up to 110000
|
10%
|
145000-300000
|
195000-300000
|
110000-300000
| |
20%
|
300000-500000
|
300000-500000
|
300000-500000
| |
30%
|
Above 500000
|
Above 500000
|
Above 500000
| |
Surcharge: 10 % on Income Tax if income Exceeding Rs 10,00,000
| ||||
Cess: 3% on Income Tax & surcharge (2 % education cess ,1% Higher secondary cess)
| ||||
2006-07 and
2007-08
|
Nil
|
Up to 135000
|
Up to 185000
|
Up to 100000
|
10%
|
135000-300000
|
185000-300000
|
100000-300000
| |
20%
|
300000-500000
|
300000-500000
|
300000-500000
| |
30%
|
Above 500000
|
Above 500000
|
Above 500000
| |
Surcharge: 10 % on Income Tax if income Exceeding Rs 10,00,000
| ||||
Cess: 2% on Income Tax & surcharge (2 % education cess )
|
Income Tax rates applicable on partnership firm is listed below. Basic rates were unchanged in last four years however effective rates were reduced after removal of surcharge from firm tax . Hope you may find this useful.
Assessment year
| ||||
FIRM
|
2009-10
|
2010-11
|
2011-12
|
2012-13
|
Tax Rate
|
30%
|
30%
|
30%
|
30%
|
Surcharg e (if net income exceeds 1 Crore)
|
10%
|
-
|
-
|
-
|
Edu. Cess & SHE Cess
|
3%
|
3%
|
3%
|
3%
|
Income tax rates of LLP(limited partnership Firm ) is listed out for assessment year 2012-13 , 2011-12 and 2010-11.The basic rates has no change in last three year . However from assessment year 2012-13 ,Alternate Minimum Tax (AMT) has been introduced from ay 2012-13 for LLP also .Income tax rates for LLP last three years has given in the table below.
llp,limited liability partnership, income tax rates, income tax rates llp, tax rate on llp., amt on llp
LLP (Concept introduced from AY 2010-11)
|
2009-10
|
2010-11
|
2011-12
|
2012-13
|
Tax Rate
|
-
|
30%
|
30%
|
30%
|
Surcharge (if net income exceeds 1 Crore)
|
-
|
-
|
-
|
-
|
Alternate Min. Tax (AMT) (% of adjusted total income) (115JC to 115 JF )
|
-
|
-
|
-
|
18.5%
|
Edu. Cess & SHE Cess
|
-
|
3%
|
3%
|
3%
|
Note: 115JC
(I) Where the regular tax of LLP is less than the AMT on adjusted total income, LLP shall be liable to pay AMT | ||||
(ii) Adjusted total income shall be the total income increased by deduction claimed, if any, under any section included in chapter VIA and deduction claimed if any u/s 10AA
|
Income tax rates on domestic companies for last four year has been given in table below.Three types of rates has been given in the table .First Income tax rates ,dividend distribution tax ,Minimum alternate tax . Tax rates are for assessment year 2012-13, assessment year 2011-12, assessment year 2010-11,ay 2009-10.Basic rates for companies are same ,however surcharge has been reduced to 5 % from 10% .Dividend Distribution tax rate are same in last four years .Mat(minimum alternate tax) rate has been increased in last four years.
Tages: companies tax rates, income tax rates , mat(minimum alternate tax ) ,dividend distribution tax (DDT)
Download Income tax rates /slab for Individual/HUF/BO AY 2006-07 to AY 2011-12
DOMESTIC COMPANY
|
2009-10
|
2010-11
|
2011-12
|
2012-13
|
Tax Rate
|
30%
|
30%
|
30%
|
30%
|
Surcharge (if net income > 1 Crore)
|
10%
|
10%
|
7.5%
|
5%
|
Min. Alt. Tax (MAT) (% of Book Profit)(115JB)
|
10%
|
15%
|
18%
|
18.5%
|
C/F of MAT Credit
|
10 yrs
|
10 yrs
|
10 yrs
|
10 yrs
|
Dividend Tax U/s 115-O
|
15%
|
15%
|
15%
|
15%
|
Surcharge
|
10%
|
10%
|
7.5%
|
5%
|
Edu. Cess & SHE Cess
|
3%
|
3%
|
3%
|
3%
|
Tags:INCOME TAX RATES CHART AY 2011-12 INCOME TAX RATES CHART AY 2010-11 INCOME TAX RATES CHART AY 2009-10 INCOME TAX RATES CHART AY 08-09 INCOME TAX RATES CHART AY 2007-08 INCOME TAX RATES CHART AY 2006-07 ,TAX RATES FOR INDIVIDUALS ,TAX RATE FOR HUF ,TAX RATES FOR BOI, TAX RATES FOR COMPANIES,
in this coloum you can also advice how individual can use 80C/80D and also exemption limit for senior citizen above 60 and also above 80 which will be very mucch useful. Veeraraghavan
ReplyDeleteDear R Venky
ReplyDeleteDetails as required by you is already available at link given below
http://www.simpletaxindia.net/2011/12/income-tax-rates-2011-12-exemption.html
This comment has been removed by a blog administrator.
ReplyDeleteCan Huf get slab rate if karta is above 60 yrs?
ReplyDeleteyes , there is no relation between Karta age and slabs of HUF.so you can claim HUF slabs
Delete