Imcome tax exemption limit changes

Save Share

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

07 December 2012 Hai Experts,

Is there any changes in Income tax exemption limit for the Fy 2012-13.

Please asap.

Thanks in advance

CA Roshan Jha

CA Roshan Jha (Expert)
Follow

07 December 2012 Yes, it is now Rs.2 lakhs for male and female both.

CA Manish

CA Manish (Expert)
Follow

08 December 2012 B. Rates of tax for a woman, resident in India and below sixty years of age at any time during the financial year:

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 exceeds Rs. 5,00,000/-.
4. Where the total income exceeds Rs. 10,00,000/-.

Rs. 130,000/- plus 30 per cent of the amount by which the total income exceeds Rs. 10,00,000/-.

CA Manish

CA Manish (Expert)
Follow

08 December 2012 C. Rates of tax for an individual, resident in India and of the age of sixty years or more but less than eighty years at any time during the financial year:

1. Where the total income does not exceed Rs. 2,50,000/-.

Nil
2. Where the total income exceeds Rs. 2,50,000 but does not exceed Rs. 5,00,000/-.

10 per cent, of the amount by which the total income exceeds Rs. 2,50,000/-
3. Where the total income exceeds Rs. 5,00,000/- but does not exceed Rs. 10,00,000/-.

Rs. 25,000/- plus 20 per cent of the amount by which the total income exceeds Rs. 5,00,000/-.
4. Where the total income exceeds Rs. 10,00,000/-.

Rs. 125,000/- plus 30 per cent of the amount by which the total income exceeds Rs. 10,00,000/-.

CA Manish

CA Manish (Expert)
Follow

08 December 2012 D. In case of every individual being a resident in India, who is of the age of eighty years or more at any time during the financial year:

1. Where the total income does not exceed Rs. 5,00,000/-

Nil
2. Where the total income exceeds Rs. 5,00,000/- but does not exceed Rs. 10,00,000/-

20 per cent of the amount by which the total income exceeds Rs. 5,00,000/-
3. Where the total income exceeds Rs.10,00,000/-

Rs. 1,00,000/- plus 30 per cent of the amount by which the total income exceeds Rs.10,00,000/-

CA Ayush Agarwal

CA Ayush Agarwal (Expert)
Follow

08 December 2012 As Correctly replied by Roshan, Now Male and Female No Biased Nature by IT Authorities.
Same Slab i.e. 200000/-.

After That in Detail Wanna to go for Then Manish Given You in Total Detail Slab.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now