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.
Tags: Income Tax Slab
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Comments (23)
pravir v.gawande
| #
thanks
Reply
Nityanand
| #
IF THERE IS ANY REBATE ON ITax UPTO SAVING OF RS 1 LAKHS AND MORE
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RAMESH
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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.
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Abhinav
| #
It would be around 333 Rs per month..
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Prakash
| #
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.
Reply
Naveen Thirthahalli
| #
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%
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pramod
| #
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.
Reply
Sikander
| #
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.
Reply
uday kumar
| #
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
Reply
ASHOK ANAND
| #
I AM A RETIRED FAMILY PENSIONER, CAN EMLPLOYER DEDUCT TDS ON FAMILY PENSION AND ARREAR OF PENSION, UNDER WHAT RULES.
Reply
ravi vyas
| #
TDS deducted under sec 192 just like deduction as per Salary.
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jitendra sah
| #
pse send slab 2012-13 and saving limitation.
Reply
pradnya W
| #
salary 92000 pm
how will duduct tds & what will be % on it
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Ganesh
| #
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/-
Reply
Rajnagiri
| #
What is tax?
Reply
Shashi
| #
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.
Reply
ravi vyas
| #
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)
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Mukarram Rasheed Ansari
| #
Tax slab & Calcultor 2013
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Varun
| #
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
Reply
KRISHNA SHAH
| #
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.
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R Sreedhar rao
| #
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.
Reply
Sushmita Poddar
| #
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?
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Manish Singh
| #
You can buy policy to save tax for period 2013-14 or if u paying any rent or Home loan u can save tax.
Reply