INCOME TAX SLAB RATE FOR A.Y. 2013-14 (F.Y.2012-13)

INCOME TAX SLAB RATE FOR A.Y.2013-14
The new and revised income tax slabs and rates applicable for the financial year (FY) 2012-13 and assessment year (AY) 2013-14 are mentioned below:

For Individual male,Age less than 60 Years

Up to 200000 :    Nil

200001-500000 : 10%

500001-1000000 : 20%

1000001 & above : 30%

 

For Individual female,Age less 60 years

Up to 200000 :    Nil

200001-500000 : 10%

500001-1000000 : 20%

1000001 & above : 30%

For Individual, Age more than 60 Years ( Senior Citizen)

Up to 250000 :    Nil

250001-500000 : 10%

500001-1000000 : 20%

1000001 & above : 30%

For Individual ,Age more than 80 Years ( Super Citizen )

Up to 500000 :    Nil

500001-1000000 : 20%

1000001 & above : 30%

Further there is no change in education and other cess.

March 17, 2012

28 Responses on INCOME TAX SLAB RATE FOR A.Y. 2013-14 (F.Y.2012-13)"

  1. pravir v.gawande says:

    thanks

  2. Nityanand says:

    IF THERE IS ANY REBATE ON ITax UPTO SAVING OF RS 1 LAKHS AND MORE

    • S. B. Daptardar says:

      I am pensioner and paying 10% Income tax on pension. My savings are 100000 in PPF, 4000 in LIC and 50000 in ICICI Preduntial Life Inssurance Poly for my employed son from my retirement benefits deposited in FD. How much I can claim under 80C. UP government treasury inspite of requesting twice has not given me Form 16 or statement of pension paid during 2012-13 how I should file income tax return. I am settled in Chinchwad Pune-411033

  3. RAMESH says:

    I get 240000 pa. my company want to deduct tds every month from my salary. if they deduct tds from my salary.what is the amount of tds for every month,what is the rate. i have no other income.how can i refund these amount .pls give your valuable information.

    • Abhinav says:

      It would be around 333 Rs per month..

    • Prakash says:

      Dear Ramesh..for the AY 13-14 Basic exemption limit is 200000 after that taxed @10% upto 5 lakhs
      In your case salary 2.4 lakhs so taxble income rs 40000(2.4-2.0lak).
      Taxpayable 40000*10/100=4000
      Tds to be deducted=4000/12=333/-
      Best you would make some LIC Premium for reducing tax
      If u want to get the refund u have to file income tax return for the AY 13-14.

      • Naveen Thirthahalli says:

        Dear Ramesh if u get gross amount of Rs. 240000/- p a. meance you are having rs.40000/- taxable income. but in that they should deduct Savings like (professional Tax, Pf, Vpf,) nd if you are paying (LIC, Medical Insurance, House rent/HRA, Housing loan) aft dat dey should deduct 10%

    • pramod says:

      total tax for AY 13-14 will be 40000*10% = 4000/- Tds per month will be
      4000/12= 333.33 if you are not having any Deduction u/s 80 of the IT Act. If you are having any investment than that amount will be deducted from the above Rs 40000/- and the calculation of TDS will be according to that.

    • Sikander says:

      Ramesh ji pvt companies deduct 10% every month from your salary it may be around 2000/- it means 24000/- per annum. According to your income tax payable is 4000+120(3% education assess) 4120. File your income tax return. Access amount refunded to you as income tax refund.

  4. uday kumar says:

    can u tell me what is the Income tax salb rate for the year 2012-13 & i get salary
    Rs-196000/- p.a salary & the company is tell to save Rs-10000/- otherwise tds will be deducted

  5. ASHOK ANAND says:

    I AM A RETIRED FAMILY PENSIONER, CAN EMLPLOYER DEDUCT TDS ON FAMILY PENSION AND ARREAR OF PENSION, UNDER WHAT RULES.

  6. jitendra sah says:

    pse send slab 2012-13 and saving limitation.

  7. pradnya W says:

    salary 92000 pm
    how will duduct tds & what will be % on it

  8. Ganesh says:

    Hello sir,

    My annual income for the FY 2012-13 (i.e, Assessment Year 2013-14) is as follows.

    My father (age 60Yrs and wholly dependent on me ) undergone Heart bypass operation in jun-12 at a private hospital

    and the expenditure is around Rs1,60,000/- I claimed for reimbursement and an amount of

    Rs.1,26,000/- sanctioned to me in Sep-12.I am living in a rent free quarter provided by the Company. Please

    tell me how much tax i have to pay for this FY12-13. can i show medical expenses U/S 80DDB? Please help me

    in this regard.

    Gross Income
    1.Basic Pay- Rs 3,71,350/-
    2.DA -Rs.97,339/-
    3.Other allowances–Rs 1,05,378/-
    4.Medical Reimbursment- Rs.1,26,000/-

    Salary Savings
    1.EPF -Rs53,571/-
    2.LIC -RS.53,724/-
    3.Professional Tax- Rs.2,400/-
    4.TDS (Income TAX)— Rs,36,033/-

  9. Shashi says:

    My Annual Salary is Rs 278000/- Govt exemption is Rs 2 lakh and remaining 78000/- will be taxable income. I am paying Rent @ Rs 8000 per month, My wife has taken LIC in my name and paying Rs 700 premium every month. How much declaration i have to show to my company now. Pls suggest.

    • Profile photo of ravi vyas ravi vyas says:

      You will get deduction for LIC payment if payment is made by you only and even now also u take because LIC is on your name, but take care that your wife not taking deduction of such LIC payment Rs. 700.
      You also take deduction for house rent payment you can take deduction upto Rs. 24000/- for the year only.(w.r.t section 80gg of IT Act- entitled to a deduction in respect of house rent paid by him in excess of 10% of his total income, subject to a ceiling of 25% thereof or Rs. 2,000/- per month, whichever is less. The total income for working out these percentages will be computed before making any deduction under section 80GG)

    • rahul sharma says:

      Dear frnd,

      if u r eligible for HRA. than you will get deduction of rent. otherwise u will not eligible for deduction of rent 8000 pm. only u will eligible for lic premium. so that your taxable income is 278000-200000-8400= 69600
      and tax on 69600*10.30= 7169 rs.

  10. Mukarram Rasheed Ansari says:

    Tax slab & Calcultor 2013

  11. Varun says:

    Hi..
    I am getting 2.85Lac p.a there is a fixed deduction of Rs 3000/month for Cab facility and Rs 750/Month for PF Deduction..

    Please tell me what amount of tax will be deducted from my Salary..?? and how much I will get in hand..??

    Please Resolve this Problem…

    Thanks
    Varun

  12. KRISHNA SHAH says:

    If i earn rs.2,50,000 income from winnigs & i have no other income, then what amt tds i have to pay. because as per my view i can’t get baic exemption limit from winnings.

  13. R Sreedhar rao says:

    Hello sir,
    My annual income for the FY 2012-13 (i.e, Assessment Year 2013-14) is as follows. Gross salary : 260520, Net pay: 247320

    My total ecemption; HRA: 3600 , Conveyance allowance: 9600, Medical allowance:15000,
    My Total investments Breakup: Provident Fund: 212940, Hounsing Loan Principal: 12000

    But my company Income Tax will be deducted accordingly in FEB Rs. 2112/- & MAR’13 rs. 2112/- salaries (Deducted Rs.4224/- Feb & Mar’13)

    how can i refund these amount .pls give your valuable information.

    Thanks
    R. sreedhar rao
    91-8801108188.

  14. Sushmita Poddar says:

    Hello Sir/Ma’am, I am earning 2,40,000 p.a..My Taxable Income is 40,000. Is there any way to save my income from tax? Can i take Life Insurance policy or is there any other option?

    • Profile photo of Manish Singh Manish Singh says:

      You can buy policy to save tax for period 2013-14 or if u paying any rent or Home loan u can save tax.

    • rahul sharma says:

      dear sushmita poddar,

      u can save your income from tax. for tax saving u will have to invested in LIC. than u will become eligible for deduction of sec 80C .
      eg. if u paid 1000 rs per month premium of lic than u will get deduction of rupees 12000 from in taxable income 40000 rs. ok and for further deduction you can avail the school fees.and medical insurance like.

  15. DN Prasad says:

    I am a pensionar aged 63 yrs.
    My total income is 3,50,000/- per year
    including my pension and interest on FDs
    how much i have to pay the income tax

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