New Income Tax Slabs for AY 13-14 for Resident Super Senior Citizens above 80 years (FY 2012-13)

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

New Income Tax Slabs for AY 13-14 for Resident Senior Citizens above 60 years (FY 2012-13)

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 10,00,000 20%
4 Above 10,00,000 30%
 

Income Tax Slabs for AY 13-14 for Resident Citizens (below 60 years) (FY 2012-13)

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

For normal category the simple calculation is as follows

  • Taxable Income in 10% slab maximum tax will be Rs. 30000
  • Taxable Income in 20% slab maximum tax will be Rs. 30000 + Rs. 100000 total Rs. 130000
  • Taxable Income in 30% slab minimum tax will be Rs. 130000

3% Cess will be in addition to this.