You all must have known about the new income tax rate after union budget 2011. We are posting income tax rate for the financial year 2011-12 and for the assessment year 2012-2013 for your reference.This time a new tax catogary has been added for the benefit of individual whos is 80 or above.
Income tax rate for individual ,Hindu undivided family or association of persons or body of individuals ,
| Income tax slab | Rate of income tax | |
| 1 | Income up to Rs 180000 | Nil |
| 2 | Rs 180000 to 500000 | 10 % of the amount after Rs 180000 |
| 3 | Rs 500000 to Rs 800000 | Rs 32000+20 % on the amount after Rs 500000 |
| 4 | 800000 and above | Rs 92000+30 % on the amont after Rs 800000 |
Every individual being a women resident in india and below the age of sixy years at any time during the previous year
| Income tax slab | Rate of income tax | |
| 1 | Income up to Rs 190000 | Nil |
| 2 | Rs 190000 to 500000 | 10 % of the amount after Rs 190000 |
| 3 | Rs 500000 to Rs 800000 | Rs 31000+20 % on the amount after Rs 500000 |
| 4 | 800000 and above | Rs 91000+30 % on the amont after Rs 800000 |
Every individual being resident in india , who is of the age of sixty years or more but less than eighty years
| Income tax slab | Rate of income tax | |
| 1 | Income up to Rs 250000 | Nil |
| 2 | Rs 250000 to 500000 | 10 % of the amount after Rs 250000 |
| 3 | Rs 500000 to Rs 800000 | Rs 25000+20 % on the amount after Rs 500000 |
| 4 | 800000 and above | Rs 85000+30 % on the amont after Rs 800000 |
Individual , being a resident in india , who is of the age of eighty years or more at any time during previous year
more but less than eighty years
| Income tax slab | Rate of income tax | |
| 1 | Income up to Rs 500000 | Nil |
| 3 | Rs 500000 to Rs 800000 | 20 % on the amount after Rs 500000 |
| 4 | 800000 and above | Rs 60000+30 % on the amont after Rs 800000 |
Income tax of Co-operative society for the financial year 2011-12
| Income tax slab | Rate of income tax | |
| 1 | Income up Rs 10000 | 10% of total income |
| 3 | Above Rs 10000 to up to Rs 20000 | Rs 1000+ 20 % of income above 10000 |
| 4 | 20000 and above | Rs 3000+ 30 % of income above 20000 |
Income tax rate of partnership firm for the financial year 2011-12
| Income tax slab | Rate of income tax | |
| 1 | On total income | 30% on total income |
Income tax rate of Local authority for the financial year 2011-12
| Income tax slab | Rate of income tax | |
| 1 | On total income | 30% on total income |
Income tax rate for companies for the financial year 2011-12
| Income tax slab | Rate of income tax | |
| 1 | In case of domestic company | 30% on total income |
| 2 | Case of a company other than a domestic company-
i. on so much of the total income as consist of- (a)royalties received from government or an indian concern in pursuance of an agreement made by it with the government or the indian concern after 31st day of march . 1961 but before the 1 st day of april 1976
or (b)fees for rendering technical services received from government or an indian concern in pursuance of an agreement made by it with the governenment or the indian concern after the 29th day of february 1964 but before the 1st day of april 1976
And where such agreement has , in either case, been approved by central government
ii. on the balance , if any , of the total income
|
50 %
40% |
A very good site to find tax information
This is very good attempt due to which everybody gets all reply of his querry.
kuch nahi… sab bakwaas he, ye to hume bhi pata he
sir,whether there is no education cess this year
If my Taxable Income from business is Rs. 7,00,000/- & Income from Agriculture Plantation ( Sale of Alphonso Mangos ) is Rs. 250,000/- Then is my Agri. income Taxable ?? Is there any exemption on Agri. Income ??
How to get refund of TDS amount in partnership firm?
Thank you
It is very clear statement to about income tax
slab rate for the financial year 2011-2012.