Tax proposals for 2012-13 main points for writing essay or
an article for competitors appearing in forthcoming competition. . It can be also taken as GK tips.
*Exemption limit for the general category of individual
taxpayers enhanced from Rs 1,80,000 to Rs 2,00,000 giving tax relief of Rs
2,000.
* Upper limit of 20 per cent tax slab raised from Rs 8 lakh
to Rs 10 lakh.
*Individual tax payers got a deduction of upto Rs 10,000 for
interest from savings bank accounts.
*Deduction of up to Rs 5,000 for preventive health check up.
India Income tax slabs 2012-2013 for various type of Payers
India Income tax slabs 2012-2013 for General tax payers
|
|
Income tax slab (in Rs.)
|
Tax Rate
|
0 to 2,00,000
|
No tax
|
2,00,001 to 5,00,000
|
10%
|
5,00,001 to 10,00,000
|
20%
|
Above 10,00,000
|
30%
|
India Income tax slabs 2012-2013 for Female tax payers
|
|
Income tax slab (in Rs.)
|
Tax Rate
|
0 to 2,00,000
|
No tax
|
2,00,001 to 5,00,000
|
10%
|
5,00,001 to 10,00,000
|
20%
|
Above 10,00,000
|
30%
|
India Income tax slabs 2012-2013 for Senior Citizens tax payers, Aged
60 years but less than 80 years
|
|
Income tax slab (in Rs.)
|
Tax Rate
|
0 to 2,50,000
|
No tax
|
2,50,001 to 5,00,000
|
10%
|
5,00,001 to 10,00,000
|
20%
|
Above 10,00,000
|
30%
|
India Income tax slabs 2012-2013 for very Senior Citizens tax payers, Aged above 80 years
|
|
Income tax slab (in Rs.)
|
Tax Rate
|
0 to 5,00,000
|
No tax
|
5,00,001 to 10,00,000
|
20%
|
Above 10,00,000
|
30%
|
Raise customs duty on some vehicle imports to 75% from 50%
Branded silver jewellery exempt from excise duty
10% advalorem duty on cigarettes
Advolarom duty on some cigarettes
Doubled custom duty on refined gold
Excise duty on cigarettes raised
Customs duty on non std gold raised to 10% from 5%
Customs duty on std gold raised from 2% to 4%
Duty reduced on energy saving lamps
Duty on bicycles and bicycle parts reduced
Titanium dioxide customs duty cut to 7.5% from 10%
Automated shuttle looms exempted from customs duty
Full exemption on imported equipments for road construction projs
Thermal power co exempted from customs duty for 2 yrs
Import of aircraft parts exempt from basic customs duty
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