Income qualify for slab rate
hitesh
(Querist) 07 February 2012
This query is : Resolved
Dear all can anyone please tell me applicability of Income tax Slab on various heads on Income.
And under which section Income qualify to be taxed under the slab rate
C. P. CHUGH
(Expert) 07 February 2012
During the FY 2011-12 relevant to AY 2012-13 the following rates are applicable :
Baisc Exemption Limit Rs. 1.80 Lac
Tax on Income >1.80 5.00 8.00 Lac @ 30%
for Female Assessee;s Basic Exemption Limit is Rs. 1.90 Lac and for Senior Citizens I.e. age > 60 Yrs Basic Exemption Limit is Rs. 2.50 Lac.
Education Cess and Higher Education Cess @ 2% and 1% is payable in addittion to Normal Tax Calculated as above.
On Certain Incomes Like Long Term Capital Gains (Other than from Listed Securities after Payment of STT) is 20% and on Short Term Capital Gains (Listed Securities) is 15%.
V R SHROFF
(Expert) 07 February 2012
“SORRY, Can't reply THESE TYPE OF QUERY having Repetitions, Academic, contains SMS Language, Commercial, Vague and Imaginary query.”
