INCOME TAX SLAB RATES 2012-13
INCOME-TAX DEDUCTION FROM SALARIES DURING THE FINANCIAL YEAR 2012-2013-UNDER SECTION 192 OF THE IT ACT,1961. |
INCOME TAX SOFTWARE 2012-13 DOWNLOAD
INCOME TAX SOFTWARE 2011-12 DOWNLOAD(Last Year)
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Reference is invited to Circular No.08/2010 dated 13.12.2010 whereby the rates of deduction of income-tax from the payment of income under the head "Salaries" under Section 192 of the Income-tax Act, 1961(hereinafter the Act), during the financial year 2010-2011, were intimated. The present Circular contains the rates of deduction of income-tax from the payment of income chargeable under the head "Salaries" during the financial year 2011-2012 and explains certain related provisions of the Income-tax Act. The relevant Acts, Rules, Forms and Notifications are available at the website of the Income Tax Department- |
2. FINANCE ACT, 2012 |
As per the Finance Act, 2012, income-tax is required to be deducted under Section 192 of the Income-tax Act 1961 from income chargeable under the head "Salaries" for the financial year 2012-2013 (i.e. Assessment Year |
Normal Rates of Tax for 2012-13: |
1. Where the total income does not exceed Rs. 2,00,000/-. |
NIL |
2. Where the total income exceeds Rs. 2,00,000 but does not exceed Rs. 5,00,000/-. |
10 per cent of the amount by which the total income exceeds Rs. 2,00,000/- |
3. Where the total income exceeds Rs. 5,00,000/- but does not exceed Rs. 10,00,000/-. |
Rs. 30,000/- plus 20 per cent of the amount by which the total income exceed Rs. 5,00,000/-. |
4.Where the total income exceeds Rs. 10,00,000/-. |
Rs. 1,30,000/- plus 30 per cent of the amount by which the total income exceeds Rs.10,00,000 |
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Rates of Tax for women : 2012-2013 |
1. Where the total income does not exceed Rs. 2,00,000/- |
NIL |
2. Where the total income exceeds Rs. 2,00,000 but does not exceed Rs. 5,00,000/-. |
10 per cent of the amount by which the total income exceeds Rs. 2,00,000/- |
3. Where the total income exceeds Rs. 5,00,000/- but does not exceed Rs. 10,00,000/-. |
Rs. 30,000/- plus 20 per cent of the amount by which the total income exceed Rs. 5,00,000/-. |
4.Where the total income exceeds Rs. 10,00,000/-. . |
Rs. 1,30,000/- plus 30 per cent of the amount by which the total income exceeds Rs.10,00,000 |
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