Income Tax Rates for Firms, Companies and Local Authorities are deifferent from the rates generally applicable on Individual Assesses and HUFs. The Tax is charged at a flat rate for these persons wheras the progressive tax rates are being appliable to Individial, HUF, Body of Individuals and Assocoation of Persons, whether incorporated or not, according to the Income Tax Act.
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Tag: Income Tax rates| The Income Tax Rates and Income Slabs as per the Finance Bill 2011, are as follows. These rates are applicable to Assessment Year 2012-13 (Financial Year 2011-12) | |
| Income Tax Slab for Men (age less than 60 years) | |
|---|---|
| Income Level or Income Slab (in Rs.) | Tax Rate |
| 0 -to- 1,80,000 | Exempt |
| 1,80,001 -to- 5,00,000 | 10% |
| 5,00,001 -to- 8,00,000 | 20% |
| Above 8,00,000 | 30% |
| Income Tax Slab for Women (age less than 60 years) | |
| Income Level or Income Slab (in Rs.) | Tax Rate |
| 0 -to- 1,90,000 | Exempt |
| 1,90,001 -to- 5,00,000 | 10% |
| 5,00,001 -to- 8,00,000 | 20% |
| Above 8,00,000 | 30% |
| Slab of Income Tax for Senior Citizen (age 60 years or above) | |
| Income Level or Income Slab (in Rs.) | Tax Rate |
| 0 -to- 2,50,000 | Exempt |
| 2,50,001 -to- 5,00,000 | 10% |
| 5,00,001 -to- 8,00,000 | 20% |
| Above 8,00,000 | 30% |
| Income Tax Slab for Super Senior Citizen (age 80 years or above) | |
| Income Level or Income Slab (in Rs.) | Tax Rate |
| 0 -to- 5,00,000 | Exempt |
| 5,00,001 -to- 8,00,000 | 20% |
| Above 8,00,000 | 30% |
| *Other Important Elements for AY 2012-13 | |
|---|---|
| Surcharge on Tax above: NIL | |
| Education Cess on Tax above: 2% | |
| Higher and Secondary Education Cess, on Tax above: 1% | |
| Age for senior citizen is 60 years. |
Income Tax Rates for Assessment Year 2011-12 (Financial Year 2010-11):
Income Tax Rates for Men (age 65 years or less) |
|
|---|---|
| Income Level or Income Slab (in Rs.) | Tax Rate |
| 0 -to- 1,60,000 | Exempt |
| 1,60,001 -to- 5,00,000 | 10% |
| 5,00,001 -to- 8,00,000 | 20% |
| Above 8,00,000 | 30% |
Income Tax Slab for Women (age 65 years or less) |
|
| Income Level or Income Slab (in Rs.) | Tax Rate |
| 0 -to- 1,90,000 | Exempt |
| 1,90,001 -to- 5,00,000 | 10% |
| 5,00,001 -to- 8,00,000 | 20% |
| Above 8,00,000 | 30% |
Rates of Income Tax for Senior Citizen (age above 65 years) |
|
| Income Level or Income Slab (in Rs.) | Tax Rate |
| 0 -to- 2,40,000 | Exempt |
| 2,40,001 -to- 5,00,000 | 10% |
| 5,00,001 -to- 8,00,000 | 20% |
| Above 8,00,000 | 30% |
*Other Important Elements for AY 2011-12 (FY 2010-11) |
|
|---|---|
| Surcharge on Tax above: NIL | |
| Education Cess on Tax above: 2% | |
| Higher and Secondary Education Cess, on Tax above: 1% | |
| Age for senior citizen is 65 years. |
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List of Gold Rates (24 Carats)
Date
Rate per 10 grams (Rs.)
% of +/- from last Year
Date
Rate per 10 grams (Rs.)
% of +/- from last Year01-04-1981
1670
-
31-3-1997
4725
-8.43%31-3-1982
1645
-1.50%
31-3-1998
4045
-14.39%31-3-1983
1800
9.42%
31-3-1999
4235
4.70%31-3-1984
1975
9.72%
31-3-2000
4380
3.42%31-3-1985
2130
7.85%
31-3-2001
4190
-4.34%31-3-1986
2140
0.47%
31-3-2002
5010
19.57%31-3-1987
2570
20.09%
31-3-2003
5310
5.99%31-3-1988
3130
21.79%
31-3-2004
6065
14.22%31-3-1989
3140
0.32%
31-3-2005
6180
1.90%31-3-1990
3200
1.91%
31-3-2006
8490
37.38%31-3-1991
3466
8.31%
31-3-2007
9395
10.66%31-3-1992
4334
25.04%
31-3-2008
12125
29.06%31-3-1993
4140
-4.48%
31-3-2009
15105
24.58%31-3-1994
4598
11.06%
31-3-2010
16320
8.04%31-3-1995
4680
1.78%
31-3-2011
20775
27.30%31-3-1996
5160
10.26%
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