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:
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
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.
what is the income tax chart according 2012 financial year .
My age is 25 – 30.and my total CTC is 2.51
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.
is there surcharge on income above 10 lakhs for salaried pepple
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.
its fantastic decision of law for differenciate exemption limit under siner citizen age
pls any one tell m journal entries of tds receive
i am teacher, my salary 4,00,000
RETURN
i am teacher, my salary 4,00,000
RETURN compalsary ? or any option?
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
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
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.
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
FINANCE MINISTER has done a good thing for the seniors
thanks to finance minister for considering the seniors
how nice of you
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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.
CAN SALARIED PERSON FILE A RETURN IN ITR1 WITOUT FORM16
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.
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 ?
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.
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
Yes he can file Income Tax Returns with nil tax by using ITR1
Sir, How much i Can Deduction For My Wife Who Has Brain Malagency With Severe Disability
sir,
My total income is 210000/-
pls tell me know.
how many calculate tax
thanks