Fresher: Income Tax Slab / Rate for FY 2012

Thursday, January 3, 2013

Below are the new income tax slabs for FY 2012-13:

General (Both for Men and Women) Tax Slabs
Income Tax Slab (in Rs.)	Tax
Upto Rs. 2 lakh	No Tax
Rs. 2 Lakhs to Rs. 5 Lakhs	10%
Rs. 5 Lakhs to Rs. 10 Lakhs	20%
Above Rs. 10 Lakhs	30%

Senior Citizens (Aged 60 years but less than 80 years)
Income Tax Slab (in Rs.)	Tax
Upto Rs. 2.5 Lakh	No Tax
Rs. 2.5 Lakhs to Rs. 5 Lakhs	10%
Rs. 5 Lakhs to Rs. 10 Lakhs	20%
Above Rs. 10 Lakhs	30%

Very Senior Citizen (Above 80 years)
Income Tax Slab (in Rs.)	Tax
Upto Rs. 5 Lakh	No Tax
Rs. 5 Lakhs to Rs. 10 Lakhs	20%
Above Rs. 10 Lakhs	30%

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Invest in Tax Saving Mutual Funds ( ELSS Mutual Funds ) to upto Rs 1 lakh and Save tax under Section 80C.

Invest Tax Saving Mutual Funds Online

These links can be used to Purchase Mutual Funds Online that are regular also (Investment, non-tax saving)

Download Tax Saving Mutual Fund Application Forms from all AMCs

These Application Forms can be used for buying regular mutual funds also

Some of the best Tax Saving Mutual Funds available ( ELSS Mutual Funds )

Fresher