Income Tax
Burden has to come down a bit but not much as Personal income tax exemption
limit raised from Rs 1,80,000 to Rs 2,00,000 by just Rs 20,000 only; 10 per
cent tax slab will be applied for 2 lakhs-Rs 5 lakhs income bracket; 20 per
cent tax slab applied for Rs 5 lakhs-Rs 10 lakhs income bracket and 30 per cent
tax slab will be applied for income beyond Rs 10,00,000;
To have a clear
idea & understanding, The Income Tax slabs announced by
our honourable Finance Minister, Mr. Pranab Mukherjee on 16th March 12 in his Union General Budget for the Financial Year 2012 -13 are as under in a table format with 2011-12 comparison:
our honourable Finance Minister, Mr. Pranab Mukherjee on 16th March 12 in his Union General Budget for the Financial Year 2012 -13 are as under in a table format with 2011-12 comparison:
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| Personal Income Tax Slab Rate Comparison 2011-12 vs 2012-13 |
Usually budget
will provide extra benefit for female taxpayers in basic exemption limit but
this time, the difference of male & female discrimination is eliminated as the
basic exemption limit for everyone stands at Rs 2 lakh irrespective of the
gender.
I want to know the Income Tax Slab of new financial year (2013-2014), to check in which income bracket my income lies and how much tax i'll have to pay for my income....can you provide the details of income tax slab for the new financial year...
ReplyDeleteGood Comparison show about Income Tax Slab rates. Income Tax Slab helps the tax payers to know about their deductable amount according to the slab rates. Thanks for giving the comparison of different year Income Tax Slab.
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