In the latest budget announcement on 16th March 2012, the financial minister, Pranab Mukherjee, announced raising the tax exemption limit from the curent level of Rs 1.8 lakh to Rs 2 lakh. For income upto Rs 2 lakh, the tax deduction will now be NIL. For those with an income between Rs 2-5 lakh the tax deduction would be 10%. For income between Rs 5-10 lakh the tax bracket will be 20%. Income above Rs 10 lakh will now come under the 30% tax bracket. Please note the assessment year for this will be AY 2013-2014.
Rest of the details and detailed slabs for women, senior citizens etc are not out yet and will be updated later.
Tags: Assessment Year 2013-2014, Financial Year 2012-2013, Income Tax Slabs, Latest income tax slabs
I shall be glad to be mailed regarding best possible savings schemes for Income Tax FY 2012-20132 for SENIOR CITIZEN having income Rs. 5,00,000.00 to Rs.8,00,000.00
Regards,
Sanjib.k.misra@gmail.com
what is the income tax exemption limit for lady assessee for AY-2013-2014
i neeed income tax slabs for ay-2013-2014
Can I know tax exemption for Women for the financial year 2012-2013
pls. asist me in which date we will calculate increasing service tax rate
i neeed income tax slabs for ay-2013-2014
what is the tax exemption limit for men and women
let me know regarding best possibie savings for income tax FY2012-2013 for SENIOR CITIZEN having income Rs10,00,000 to 15,00,000
I HAVE REQUIRE THE I. TAX SLAB FY-2012-13 FOR ALL,& PLEASE TELL ME IN DATAILS THE PROCEDURES TO FILE THE TDS RETURN.
I would like to know the tax applicable to a proprietorship firm whose income in one financial year is 50 lac and expense is 38 lac, net profit is 12 lac.
whether reimbursement of tution fee as per Central Govt. is texable or will form the part of standard deduction or non texable.
Dear sir,
please send me details of process of tax assumption and income tax retuns process for 2012-3013 to my mail id.
Thanks and regards
Murthy
Dear sir,
please send me details of process of tax assumption and income tax retuns process for 2012-3013 to my mail id.
Thanks and regards