Income tax rates for the financial year 2012-2013:-
Applicable Income tax rates for Indian individual persons (Men/Women/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 200000 | 0 | 0 | 0 |
200000 to 500000 | 10 | 3 | 10.3 |
500001 to 1000000 | 20 | 3 | 20.6 |
1000001 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 1000000 | 20 | 3 | 20.6 |
1000001 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 1000000 | 20 | 3 | 20.6 |
1000001 and above | 30 | 3 | 30.6 |