2012 - 13 Budget : New Tax Slabs


MALES - 2012 - 13  Budget
Exemption up  to  Rs 2 lakh for taxpayers. The upper limit of 20% tax slab raised  to  Rs 10 lakh.

TAX RATE            NOW            POST BUDGET
Nil                   1.8 lakh           2.0 lakh
10%               1.8 to 5 lakh      2  to  5 lakh
20%               5 to 8 lakh         5 to 10 lakh
30%              Above 8 lakh      Above 10 lakh

FEMALES

Exemption up  to  Rs 2 lakh for taxpayers. The upper limit of 20% tax slab raised  to  Rs 10 lakh.

TAX RATE    NOW                     POST BUDGET
Nil               1.9 lakh                 2.0 lakh
10%             1.9 to 5 lakh         2 to 5 lakh
20%             5 to 8 lakh            5 to 10 lakh
30%             Above 8 lakh       Above 10 lakh

SENIOR CITIZENS (60 to 80 YRS)
The upper limit of 20% tax slab raised  to  Rs 10 lakh.

TAX RATE       NOW                   POST BUDGET
Nil                   2.5 lakh              2.5 lakh
10%                2.5 to 5 lakh        2.5 to 5 lakh
20%                5 to 8 lakh           5 to 10 lakh
30%                Above 8 lakh      Above 10 lakh

VERY SENIOR CITIZENS (80 YRS & ABOVE)
The upper limit of 20% tax slab raised to  Rs 10 lakh.

TAX RATE     NOW                        POST BUDGET
Nil                      5 lakh                      5 lakh
20%                 5 to 8 lakh               5 to 10 lakh
30%               Above 8 lakh           Above 10 lakh


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