AMD & CO

search-site

Search this site

INCOME TAX >

HOME

COST INFLATION INDEX

DEPRECIATION CHART

FEMA

EXCHANGE CONTROL
FORMS

FEMA FORMS

IMPORTANT DATES

INCOME TAX

Download Income Tax

Return

INCOME TAX FORMS

INCOME TAX RATES For

AY 2010-11 (FY 2009-10)

INCOME TAX RATES (AY

2012-13)
INCOME TAX RATES
FOR AY 2011-12
S/234B and C Interest
calculator

NEWS

1. Amendment in TDS
effective from 1-4-2010

INCOME TAX RATES (AY

2012-13)
The new and revised income tax slabs and rates
applicable for the financial year (FY) 2011-12 and
assessment year (AY) 2012-13 are mentioned
below:

New Income tax slab for ay 12-13

New Income Tax Slabs for ay 12-13 for
Resident Senior Citizens above 60 years (FY
2011-12)
S. No.

Income Range

Tax percentage

Up to Rs 2,50,000

No tax / exempt

2,50,001 to 5,00,000 10%

5,00,001 to 8,00,000 20%

Above 8,00,000

30%

New Income Tax Slabs for ay 12-13 for

Resident Senior Citizens above 80 years (FY
2011-12)
S. No.

Income Range

Tax percentage

Up to Rs 5,00,000

No tax / exempt

5,00,001 to 8,00,000 20%

Above 8,00,000

30%

Income Tax Slabs for ay 12-13 for Resident

Women (below 60 years) (FY 2011-12)
1

Up to Rs 1,90,000

No tax / exempt

7. BUDGET HIGHLIGHTS
**

1,90,001 to 5,00,000 10%

5,00,001 to 8,00,000 20%

Article on CA Arvind M
Darji - Economic Times
dated 14th Sept, 2010 -

Above 8,00,000

30%

New Income Tax Slabs for ay 12-13 Others &

High Flier Section - pg 20

NSC INTEREST

RESOLUTION

ROC

ROC FEES

ROC FORMS

SERVICE TAX FORMS

TDS RATES

TDS RATES (A Y 201213)

Sitemap

Men (FY 2011-12)

1

Up to Rs 1,80,000

No tax / exempt

1,80,001 to 5,00,000 10%

5,00,001 to 8,00,000 20%

Above 8,00,000

30%

For normal category the simple calculation is as

follows

Taxable Income in 10% slab maximum tax

will be Rs 32000

Taxable Income in 20% slab maximum tax

will be Rs 32000 + Rs 60000 total Rs
92000

Taxable Income in 30% slab minimum tax

will be Rs 92000

Education and other cess will be in addition to this

Add comment
Sign in Recent Site Activity Terms Report Abuse Print page Powered by Google Sites

INCOME TAX RATES FOR AY 2011-12

Income Tax Rates

a) Personal Tax Slab Revised

Basic exemption limit has remained same as that of last financial year but slab limits
have been extended.

SLAB

INCOME TAX RATE

Up to Rs. 160000
Rs. 1,60,001 to Rs. 5,00,000
Rs. 5,00,001 to Rs. 8,00,000
Above Rs. 8,00,000

Nil.
10 per cent.
20 per cent.
30 per cent.

Male
Resident
Individual And Hindu
Divided Family (HUF)

No Surcharge.
Female Resident Individual
In the case of every individual, being a woman resident in India, and below the age of
sixty-five years at any time during the previous year

INCOME TAX RATE$

SLAB
Up to Rs. 1,90,000
Rs. 1,90,001 to Rs. 5,00,000
Rs. 5,00,001 to Rs. 8,00,000

Nil.
10 per cent.
20 per cent.

Above Rs. 8,00,000

30 per cent.

No Surcharge.
Senior Citizen
In the case of every individual, being a resident in India, who is of the age of sixty-five
years or more at any
$
time during the
SLAB
INCOME TAX RATE
previous year
Up to Rs. 2,40,000
Nil.
Rs. 2,40,001 to Rs. 5,00,000

10 per cent.

Rs. 5,00,001 to Rs. 8,00,000

20 per cent.

Above Rs. 8,00,000

30 per cent.

No Surcharge.
$ Education cess @3% is leviable on the amount of income tax if any.

a) Co-Operative Society
TAXABLE INCOME
Up to Rs.10000
Rs.10001 to Rs.20000
Rs. 20001 and above

SLAB RATE
(%)*
10%
20%
30%

No surcharge is levied on co-operative society.

Education cess applicable to society at 3% on income tax.
*Above rates are subject to education cess.

a) Local Authorities
Local authorities are taxable at basic rate of 30% plus education cess @ 3%.No
surcharge is applicable in case of local authorities.
b) Corporate Tax Rates
Partnership Firm
Basic rate of tax is 30%.
No surcharge shall be applicable to partnership firm.
Education cess @ 3% to be added to income tax.
There is no change in the rates of Income Tax for (for both domestic and foreign
companies)

Basic Tax rate on domestic company has remained unchanged i.e. 30% and in
case of foreign company also basic rate of tax is maintained at 40%.
Basic Minimum alternate tax rate u/s 115JB on the book profits proposed to be
increased from 15% to 18%.
The rate of tax on profits from insurance business is 12.5% plus surcharge and
education cess.
But Current surcharge of 10 per cent on domestic companies proposed to be
reduced to 7.5% if the income exceeds Rs.1cr. Surcharge on foreign company is
imposed at 2.5% if the income exceeds Rs. 1cr.
Education cess imposed on domestic as well as foreign company is 3% on income
tax (including surcharge) irrespective of quantum of income.
Summary of consolidated Corporate tax rates including surcharge and education
cess is laid down in given table below:
PARTICULARS

TAX RATE

TAX RATE

(%) ^

(%) ^

UP TO

ABOVE 1CR

1CR
A)Domestic Company
Normal Tax
MAT
Dividend
Distribution Tax
B) Foreign Company
Normal Tax
MAT
^ Tax rate is including surcharge and education cess.

30.90
18.54
16.61

33.22
19.93
16.61

41.2$
18.54$

42.23$
19.00$

$ In case of foreign company surcharge is levied @ 2.5% of income tax

BACK to AMD & CO

Disclaimer : AMD & CO is not responsible for any kind of loss arising due to information

Add comment
Sign in Recent Site Activity Terms Report Abuse Print page Powered by Google

INCOME TAX RATES FOR AY 2011-12

Income Tax Rates

a) Personal Tax Slab Revised

Basic exemption limit has remained same as that of last financial year but slab limits
have been extended.

SLAB

INCOME TAX RATE

Up to Rs. 160000
Rs. 1,60,001 to Rs. 5,00,000
Rs. 5,00,001 to Rs. 8,00,000
Above Rs. 8,00,000

Nil.
10 per cent.
20 per cent.
30 per cent.

Male
Resident
Individual And Hindu
Divided Family (HUF)

No Surcharge.
Female Resident Individual
In the case of every individual, being a woman resident in India, and below the age of
sixty-five years at any time during the previous year

SLAB

INCOME TAX RATE$

Up to Rs. 1,90,000
Rs. 1,90,001 to Rs. 5,00,000
Rs. 5,00,001 to Rs. 8,00,000

Nil.
10 per cent.
20 per cent.

Above Rs. 8,00,000

30 per cent.

No Surcharge.
Senior Citizen
In the case of every individual, being a resident in India, who is of the age of sixty-five
years or more at any
$
time during the
SLAB
INCOME TAX RATE
previous year
Up to Rs. 2,40,000
Nil.
Rs. 2,40,001 to Rs. 5,00,000

10 per cent.

Rs. 5,00,001 to Rs. 8,00,000

20 per cent.

Above Rs. 8,00,000

30 per cent.

No Surcharge.
$ Education cess @3% is leviable on the amount of income tax if any.

a) Co-Operative Society
TAXABLE INCOME
Up to Rs.10000
Rs.10001 to Rs.20000
Rs. 20001 and above

SLAB RATE
(%)*
10%
20%
30%

No surcharge is levied on co-operative society.

Education cess applicable to society at 3% on income tax.
*Above rates are subject to education cess.
a) Local Authorities
Local authorities are taxable at basic rate of 30% plus education cess @ 3%.No
surcharge is applicable in case of local authorities.
b) Corporate Tax Rates
Partnership Firm
Basic rate of tax is 30%.
No surcharge shall be applicable to partnership firm.
Education cess @ 3% to be added to income tax.
There is no change in the rates of Income Tax for (for both domestic and foreign
companies)

Basic Tax rate on domestic company has remained unchanged i.e. 30% and in
case of foreign company also basic rate of tax is maintained at 40%.
Basic Minimum alternate tax rate u/s 115JB on the book profits proposed to be

increased from 15% to 18%.

The rate of tax on profits from insurance business is 12.5% plus surcharge and
education cess.
But Current surcharge of 10 per cent on domestic companies proposed to be
reduced to 7.5% if the income exceeds Rs.1cr. Surcharge on foreign company is
imposed at 2.5% if the income exceeds Rs. 1cr.
Education cess imposed on domestic as well as foreign company is 3% on income
tax (including surcharge) irrespective of quantum of income.
Summary of consolidated Corporate tax rates including surcharge and education
cess is laid down in given table below:
PARTICULARS

TAX RATE

TAX RATE

(%) ^

(%) ^

UP TO

ABOVE 1CR

1CR
A)Domestic Company
Normal Tax
MAT
Dividend
Distribution Tax
B) Foreign Company
Normal Tax
MAT

30.90
18.54
16.61

33.22
19.93
16.61

41.2$
18.54$

42.23$
19.00$

^ Tax rate is including surcharge and education cess.

$ In case of foreign company surcharge is levied @ 2.5% of income tax

BACK to AMD & CO

Disclaimer : AMD & CO is not responsible for any kind of loss arising due to information

Add comment
Sign in Recent Site Activity Terms Report Abuse Print page Powered by Google