Income tax rates for the financial year 2011-2012

Income tax rates for the financial year 2011-2012:-

Applicable Income tax rates for Indian individual persons (Men/HUF) having age less than 60

Income from all sources Income tax rate ( Percentage ) Applicable Education cess on Income tax  ( percentage ) Effective tax rate
0 to 180000 0 0 0
180001 to 500000 10 3 10.3
500001 to 800000 20 3 20.6
800001 and above 30 3 30.6

Applicable Income tax rates for Indian individual women having age less than 60

Income from all sources Income tax rate ( Percentage ) Applicable Education cess on Income tax  ( percentage ) Effective tax rate
0 to 190000 0 0 0
190001 to 500000 10 3 10.3
500001 to 800000 20 3 20.6
800001 and above 30 3 30.6

Applicable Income tax rates for Indian individual persons having age more than 60 and less than 80 (Senior citizens)

Income from all sources Income tax rate ( Percentage ) Applicable Education cess on Income tax  ( percentage ) Effective tax rate
0 to 250000 0 0 0
250001 to 500000 10 3 10.3
500001 to 800000 20 3 20.6
800001 and above 30 3 30.6

Applicable Income tax rates for Indian individual persons having age more than 80 (Very Senior citizens)

Income from all sources Income tax rate ( Percentage ) Applicable Education cess on Income tax  ( percentage ) Effective tax rate
0 to 500000 0 0 0
500001 to 800000 20 3 20.6
800001 and above 30 3 30.6

Related posts:

  1. Filing income Tax returns online
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27 Responses to Income tax rates for the financial year 2011-2012

  1. S.Sivasankaran says:

    Income Ageupto 65 Ageupto 70 Age upto75 Ageupto80&ab0ve
    0-250000 0 0 0 0
    250001to
    500000 10 10 10 10
    500001to
    800000 15 10 10 10
    800001&
    above 20 15 15 10

  2. S.Sivasankaran says:

    I have suggested due to the reason that the age between 60 and80 should get tax concession at every completion of 65,70,75 &80 and above ages since the age slab
    duration is much longer.

  3. Anil singh says:

    what is the income tax chart according 2012 financial year .
    My age is 25 – 30.and my total CTC is 2.51

  4. Anil singh says:

    Sir , My CTC is 2.51.and my campany 17 lacks tranfer in my personal A/C for site fund .So I,m requesting to you please suggest me.
    How to clearence my IT.B,coz till the date company don’t provided any certificates for me.Please sir guide me as soon as possible.

  5. prasad says:

    is there surcharge on income above 10 lakhs for salaried pepple

    • C.K.Shah says:

      Several rates may be considered but there will be so many complications to the students, consultants and workers of income tax department.

      There is no surcharge to a salaried persons. Not only to the salaried persons but to all individuals.

  6. anuj kumar singh says:

    its fantastic decision of law for differenciate exemption limit under siner citizen age

  7. anuj kumar singh says:

    pls any one tell m journal entries of tds receive

  8. Amol Ramdasrao Bhangale says:

    i am teacher, my salary 4,00,000
    RETURN

  9. Amol Ramdasrao Bhangale says:

    i am teacher, my salary 4,00,000
    RETURN compalsary ? or any option?

  10. rama naik says:

    i have purchased a small house in the village where it is 100km from my working place and i have in rented house. i am not given the house for rent. how to calculate for income tax purpose please guide us

  11. DHANASEKARAN says:

    Sir i am an physical challenged person pls consider an reduce an amount for income tax. please allot a spefic category for physical challenge persons also

  12. Akash says:

    Hi Prasad I think surcharge is not applicable to individual, so there is no question of surcharge for salaried people, weather his income is Rs.10 lakhs or above.

  13. N. MOHAN KRISHNA says:

    IF A SALARIED EMPLOYEE GET OTHER INCOME FROM OTHER COMPANIES THROUGH INTREST MONEY I.E FIANCE BUSSINESS. THAT PERSON HAVE ALSO HOUSE PROPERTY. TOTAL MONTHLY INCOME 38000/- BUT HE HAD A INSURANCE POLOCY & OTHER SAVINGS LIKE POST OFFICE ,BANKING . HOW MUCH HE PAID TAX ,& HE PAID TDS EVERY QUARTER

  14. pcabraham says:

    FINANCE MINISTER has done a good thing for the seniors

  15. pcabraham says:

    thanks to finance minister for considering the seniors

  16. pcabraham says:

    how nice of you

  17. Amit Surpuriya says:

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  18. VEENA MALIK says:

    I am completing the age of 60 years on 4th Feb., 2012. Kindly confirm that in my case I can get the benefit for senior citizen i.e. no income tax on 0 – 250,000.

  19. NABANITA SAIKIA says:

    CAN SALARIED PERSON FILE A RETURN IN ITR1 WITOUT FORM16

  20. Dr. Varun Kumar Asthana says:

    I would like to suggest to the Govt. Of India Min. Of Finance that since the income after the age of retirement from service of any kind is drastically reduced.There is too much expenditure on keeping good health, Therefore after the age of 60 years the tax liability of an individual could be nil up to income of 500000.00 and at the age of 65 years it should be nil up to 800000.00 and further,there should be no tax liability.The tax collection from
    grocery stores and other shop keepers in the colonies who do not give receipts for the purchases steal hell of a lot of income tax, foolproof method can be devised to collect income tax from them which will compensate the the loss of income tax from senior citizens.

  21. S.KANNAN says:

    DOES 80 C APPLIES TO VERY SENIOR CITIZENS
    MY FATHER IS 82,HIS ANNUAL PENSION RS 3,80,000
    INTEREST ON FIXED DEPOSITS/ SB RS 1,35,000
    Taken Infra structure bond(80CCF) RS 50,000
    SHOULD HE PAY TAX ?

  22. jumping jack says:

    Sir,

    If my total income for AY 11-12 is 200000. This includes a short term capital gain of Rs. 15000. i have paid a premium of Rs 5000 to LIC in this AY. Kindly tell me on what amount will I be taxed and at what rate. What is the penalty that I have to pay for filing my returns late? Please help as I am confused a lot.

  23. Sachin Panchal says:

    A salaried employee whose monthly salary is Rs. 10000/- and is not getting form 16/16A due to any reasons. If he intends to file nil income tax return for loan purposes, can he be able to file income tax return. if yes, in which form he can file a return. can he be shown as salaried employee

  24. P.K.kotha says:

    Sir, How much i Can Deduction For My Wife Who Has Brain Malagency With Severe Disability

  25. Ram Sharma says:

    sir,
    My total income is 210000/-
    pls tell me know.
    how many calculate tax

    thanks