Friday, March 16, 2012

TAX SLABS FOR AY 2012 - 2013

Posted by Sharath Chandra

These are the tax slabs as per the budget 2012-2013 in India.



Upto Rs 2 lakh - Nil 

Rs 2-5 lakh - 10% 

Rs 5–10 lakh – 20% 

Above Rs 10 lakh – 30%

Interest from savings account up to Rs 10,000 to be exempt from tax

In addition to medical insurance, an additional Rs 5000 to be exempted for preventive health check-ups

Senior Citizens exempted from filing advance tax 

Compulsory reporting of assets sold abroad