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Rates of Income Tax

Assessment year : 2012 – 13 Assessment year : 2011 – 12
Previous year : 2011 – 12 Previous year : 2010 – 11
For resident women below the age of 60 years. For resident women below the age of 65 years.
Upto Rs. 1,90,000 Nil
Rs. 1,90,001 to Rs. 5,00,000 10%
Rs. 5,00,001 to Rs. 8,00,000 20%
Above Rs. 8,00,000 30%
Upto Rs. 1,90,000 Nil
Rs. 1,90,001 to Rs. 5,00,000 10%
Rs. 5,00,001 to Rs. 8,00,000 20%
Above Rs. 8,00,000 30%
For resident Senior Citizens. (Age above 60 Years) Investment income from Foreign ExchangeAssets
Up to Rs 2,50,000 Nil
Rs. 2,50,001 to Rs. 5,00,000 10%
Rs. 5,00,001 to Rs. 8,00,000 20%
Above Rs. 8,00,000 30%
Upto Rs 2,40,000 Nil
Rs. 2,40,001 to Rs. 5,00,000 10%
Rs. 5,00,001 to Rs. 8,00,000 20%
Above Rs. 8,00,000 30%
For resident Super Senior Citizens. (Age above 80 Years)  
Up to Rs 5,00,000 Nil
Rs. 5,00,001 to Rs. 8,00,000 20%
Above Rs. 8,00,000 30%
 
Individuals, [other than those mentioned above, HUF, AOP/BOI (other than co-operative
societies).
Individuals, [other than those mentioned above, HUF, AOP/BOI (other than co-operative
societies).
Upto Rs. 1,80,000 Nil
Rs. 1,80,001 to Rs. 5,00,000 10%
Rs. 5,00,001 to Rs 8,00,000 20%
Above Rs. 8,00,000 30%
 
Surcharge : NIL
Education Cess 2% on income-tax plus surcharge.
Secondary andHigher Educationcess 1% on income-tax plus surcharge
Long-Term Capital Gains 20% on income-tax plus surcharge.
Short-Term Capital Gains u/s 111A:15% on income-tax plus surcharge.
Upto Rs. 1,60,000 Nil
Rs. 1,60,001 to Rs. 5,00,000 10%
Rs. 5,00,001 to Rs 8,00,000 20%
Above Rs. 8,00,000 30%
 
Surcharge : NIL
Education Cess 2% on income-tax plus surcharge.
Secondary and Higher Education cess 1% on income-tax plus surcharge
Long-Term Capital Gains 20% on income-tax plus surcharge.
Short-Term Capital Gains u/s 111A:15% on income-tax plus surcharge.
Firms Firms
Income tax 30%.
Surcharge NIL
Education Cess 2% on income-tax plus surcharge
Secondary and Higher Education cess 1% on income-tax plus surcharge
Income tax 30%.
Surcharge NIL
Education Cess 2% on income-tax plus surcharge
Secondary and Higher Education cess 1% on income-tax plus surcharge
Companies Companies
(A) Domestic Companies
Income tax 30%.
Surcharge 5% if the taxable income exceeds Rs. 100,00,000.
Education Cess 2% on income-tax plus surcharge
Secondary and Higher Education cess 1% on income-tax plus surcharge
 

(B) Foreign Companies

Income tax 40% (in general )
50% on royalty or fee for technical services(agreement 1.04.1961 to 31.03.1976.)
Surcharge 2% if the taxable income exceeds Rs. 100,00,000.
Education Cess 2% on income-tax plus surcharge
Secondary and Higher Education cess 1% on income-tax plus surcharge
(A) Domestic Companies
Income tax 30%.
Surcharge 5% if the taxable income exceeds Rs. 100,00,000.
Education Cess 2% on income-tax plus surcharge
Secondary and Higher Education cess 1% on income-tax plus surcharge
 

(B) Foreign Companies

Income tax 40% (in general )
50% on royalty or fee fortechnical services(agreement 1.04.1961 to 31.03.1976.)
Surcharge 2% if the taxable income exceeds Rs. 100,00,000.
Education Cess 2% on income-tax plus surcharge
Secondary and Higher Education cess 1% on income-tax plus surcharge
Cooperative Societies Cooperative Societies
Upto Rs. 10,000 10%
Rs. 10,001 to Rs. 20,000 20%
Rs. 20,001 to Above 30%
 
Surcharge Surcharge Is Not Applicable
Education Cess 2% on income-tax.
Secondary and Higher Education cess 1% on income tax plus surcharge
Upto Rs. 10,000 10%
Rs. 10,001 to Rs. 20,000 20%
Rs. 20,001 to Above 30%
 
Surcharge Surcharge Is Not Applicable
Education Cess 2% on income-tax.
Secondary and Higher Education cess 1% on income tax plus surcharge
Local Authorities Local Authorities
Income tax 30%.
Surcharge NIL
Education Cess 2% on income-tax plus surcharge.
Secondary and Higher Education cess 1% on income-tax plus surcharge
Income tax 30%.
Surcharge NIL
Education Cess 2% on income-tax plus surcharge.
Secondary and Higher Education cess 1% on income-tax plus surcharge

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