New Income Tax Slabs for AY 12-13 for Resident Senior Citizens above 60 years (FY 2011-12)

S. No. Income Range Tax percentage
1 Up to Rs 2,50,000 No tax / exempt
2 2,50,001 to 5,00,000 10%
3 5,00,001 to 8,00,000 20%
4 Above 8,00,000 30%

New Income Tax Slabs for AY 12-13 for Resident Senior Citizens above 80 years (FY 2011-12)

S. No. Income Range Tax percentage
1 Up to Rs 5,00,000 No tax / exempt
2 5,00,001 to 8,00,000 20%
3 Above 8,00,000 30%

Income Tax Slabs for AY 12-13 for Resident Women (below 60 years) (FY 2011-12)

S. No. Income Range Tax percentage
1 Up to Rs 1,90,000 No tax / exempt
2 1,90,001 to 5,00,000 10%
3 5,00,001 to 8,00,000 20%
4 Above 8,00,000 30%

New Income Tax Slabs for AY 12-13 Others & Men (FY 2011-12)

S. No. Income Range Tax percentage
1 Up to Rs 1,80,000 No tax / exempt
2 1,80,001 to 5,00,000 10%
3 5,00,001 to 8,00,000 20%
4 Above 8,00,000 30%

For normal category the simple calculation is as follows

  • Taxable Income in 10% slab maximum tax will be Rs. 32000
  • Taxable Income in 20% slab maximum tax will be Rs. 32000 + Rs. 60000 total Rs. 92000
  • Taxable Income in 30% slab minimum tax will be Rs. 92000

Education and other cess will be in addition to this.