Income Tax Rate ……………..
Up to Rs. 200000 Nil (For woman same)
From Rs. 200001 to Rs.500000 10%
From Rs. 500001 to Rs. 1000000 20%
Rs. 1000001 and above 30%
New Tax for Senior Citizen with the age between 60 years to 80 years
Income Tax Rate
Up to Rs. 250000 Nil
From Rs. 250001 to Rs.500000 10%
From Rs. 500001 to Rs. 1000000 20%
Rs. 1000001 and above 30%
New Income Tax Rate for Very Senior Citizen (80 years and above)……
Income Tax Rate
Up to Rs. 500000 Nil
From Rs. 500001 to Rs. 1000000 20%
Rs. 1000001 and above 30%
Tax benefit at a glance as per new budget 2012 -2013………………………..
1. Tax Exemption for interest income (Saving A/C) up to Rs. 10000
2. Health checkup cost up to Rs. 5000 (with in 80D,15000 Limit)
3. 50% exemption for Rajiv Gandhi Equity Saving Scheme.Rs50000
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