28 March , 2017 15:34 IST
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Know your Tax Rates
Income Tax Rates/Slabs for Assessment Year 2012-13 (FY 2011-12)
General Women Senior Citizen Tax Rate (In %)
(a) 0 1,80,000 0 1,90,000 0 2,50,000 Nil
(b) 1,80,001 5,00,000 1,90,001 5,00,000 2,50,001 5,00,000 10%
(c) 5,00,001 8,00,000 5,00,001 8,00,000 5,00,001 8,00,000 20%
(d) More than 8,00,000 More than 8,00,000 More than 8,00,000 30%
Tax amendments for the FY 2011-12 are mentioned below :

Increase in base income tax slab of men and senior citizens.

Tax exemption limit remains the same i.e Rs. 20,000 on investment in tax saving Infrastructure bonds.

A set of New Direct Tax Codes have been proposed, which will be active from Financial Year 2011.

Senior citizen age reduced from 64 years to 60 years.

People above 80 years of age to be included in the newly introduced 'Very Senior citizen' category.

 


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