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Tax Facts - Income Tax Rates

Back to Tax Facts

Income tax rates usually change annually. Any adjustments are announced by the Ministry of Finance, Government of India.

Income tax rates determine the tax that will be applied to your income. In India, there are different income tax rates for men, women and senior citizens. The table outlines these.

Rate of Income Tax :

Income tax slabs 2012-2013 for General tax payers

Income tax slabs 2011-2012 for General tax payers

Income tax slab
(in Rs.)
Tax Income tax slab
(in Rs.)
Tax
0 to 2,00,000 No tax 0 to 1,80,000 No tax
2,00,001 to 5,00,000 10% 1,80,001 to 5,00,000 10%
5,00,001 to 10,00,000 20% 5,00,001 to 8,00,000 20%
Above 10,00,000 30% Above 8,00,000 30%
Income tax slabs 2012-2013 for Women Income tax slabs 2011-2012 for Women
Income tax slab
(in Rs.)
Tax Income tax slab
(in Rs.)
Tax
0 to 2,00,000 No tax 0 to 1,90,000 No tax
2,00,001 to 5,00,000 10% 1,90,001 to 5,00,000 10%
5,00,001 to 10,00,000 20% 5,00,001 to 8,00,000 20%
Above 10,00,000 30% Above 8,00,000 30%
Income tax slabs 2012-2013 for Senior citizen Income tax slabs 2011-2012 for Senior citizen
(Aged 60 years but less than 80 years) (Aged 60 years but less than 80 years)
Income tax slab
(in Rs.)
Tax Income tax slab
(in Rs.)
Tax
0 to 2,50,000 No tax 0 to 2,50,000 No tax
2,50,001 to 5,00,000 10% 2,50,001 to 5,00,000 10%
5,00,001 to 10,00,000 20% 5,00,001 to 8,00,000 20%
Above 10,00,000 30% Above 8,00,000 30%
Income tax slabs 2012-2013 for very senior citizen Income tax slabs 2011-2012 for Very Senior citizen
(Aged 80 and above) (Above 80 years)
Income tax slab
(in Rs.)
Tax Income tax slab
(in Rs.)
Tax
0 to 5,00,000 No tax 0 to 5,00,000 0%
5,00,001 to 10,00,000 20% 5,00,001 to 8,00,000 20%
Above 10,00,000 30% Above 8,00,000 30%


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