Imcome tax exemption limit changes
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
07 December 2012
Hai Experts,
Is there any changes in Income tax exemption limit for the Fy 2012-13.
Please asap.
Thanks in advance
Is there any changes in Income tax exemption limit for the Fy 2012-13.
Please asap.
Thanks in advance
07 December 2012
Yes, it is now Rs.2 lakhs for male and female both.
08 December 2012
B. Rates of tax for a woman, resident in India and below sixty years of age at any time during the financial year:
1. Where the total income does not exceed Rs.2,00,000/-.
Nil
2. Where the total income exceeds Rs. 2,00,000 but does not exceed Rs. 5,00,000/-.
10 per cent, of the amount by which the total income exceeds Rs. 2,00,000/-
3. Where the total income exceeds Rs. 5,00,000/- but does not exceed Rs. 10,00,000/-.
Rs. 30,000/- plus 20 per cent of the amount by which the total income exceeds Rs. 5,00,000/-.
4. Where the total income exceeds Rs. 10,00,000/-.
Rs. 130,000/- plus 30 per cent of the amount by which the total income exceeds Rs. 10,00,000/-.
1. Where the total income does not exceed Rs.2,00,000/-.
Nil
2. Where the total income exceeds Rs. 2,00,000 but does not exceed Rs. 5,00,000/-.
10 per cent, of the amount by which the total income exceeds Rs. 2,00,000/-
3. Where the total income exceeds Rs. 5,00,000/- but does not exceed Rs. 10,00,000/-.
Rs. 30,000/- plus 20 per cent of the amount by which the total income exceeds Rs. 5,00,000/-.
4. Where the total income exceeds Rs. 10,00,000/-.
Rs. 130,000/- plus 30 per cent of the amount by which the total income exceeds Rs. 10,00,000/-.
08 December 2012
C. Rates of tax for an individual, resident in India and of the age of sixty years or more but less than eighty years at any time during the financial year:
1. Where the total income does not exceed Rs. 2,50,000/-.
Nil
2. Where the total income exceeds Rs. 2,50,000 but does not exceed Rs. 5,00,000/-.
10 per cent, of the amount by which the total income exceeds Rs. 2,50,000/-
3. Where the total income exceeds Rs. 5,00,000/- but does not exceed Rs. 10,00,000/-.
Rs. 25,000/- plus 20 per cent of the amount by which the total income exceeds Rs. 5,00,000/-.
4. Where the total income exceeds Rs. 10,00,000/-.
Rs. 125,000/- plus 30 per cent of the amount by which the total income exceeds Rs. 10,00,000/-.
1. Where the total income does not exceed Rs. 2,50,000/-.
Nil
2. Where the total income exceeds Rs. 2,50,000 but does not exceed Rs. 5,00,000/-.
10 per cent, of the amount by which the total income exceeds Rs. 2,50,000/-
3. Where the total income exceeds Rs. 5,00,000/- but does not exceed Rs. 10,00,000/-.
Rs. 25,000/- plus 20 per cent of the amount by which the total income exceeds Rs. 5,00,000/-.
4. Where the total income exceeds Rs. 10,00,000/-.
Rs. 125,000/- plus 30 per cent of the amount by which the total income exceeds Rs. 10,00,000/-.
08 December 2012
D. In case of every individual being a resident in India, who is of the age of eighty years or more at any time during the financial year:
1. Where the total income does not exceed Rs. 5,00,000/-
Nil
2. Where the total income exceeds Rs. 5,00,000/- but does not exceed Rs. 10,00,000/-
20 per cent of the amount by which the total income exceeds Rs. 5,00,000/-
3. Where the total income exceeds Rs.10,00,000/-
Rs. 1,00,000/- plus 30 per cent of the amount by which the total income exceeds Rs.10,00,000/-
1. Where the total income does not exceed Rs. 5,00,000/-
Nil
2. Where the total income exceeds Rs. 5,00,000/- but does not exceed Rs. 10,00,000/-
20 per cent of the amount by which the total income exceeds Rs. 5,00,000/-
3. Where the total income exceeds Rs.10,00,000/-
Rs. 1,00,000/- plus 30 per cent of the amount by which the total income exceeds Rs.10,00,000/-
08 December 2012
As Correctly replied by Roshan, Now Male and Female No Biased Nature by IT Authorities.
Same Slab i.e. 200000/-.
After That in Detail Wanna to go for Then Manish Given You in Total Detail Slab.
Same Slab i.e. 200000/-.
After That in Detail Wanna to go for Then Manish Given You in Total Detail Slab.
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