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| Edited By: |Source: PTI |Updated: Mar 18, 2018, 05:06 AM IST
Following is the table of new income tax slabs proposed by Finance Minister Pranab Mukherjee in the Budget for 2012-13, and the likely savings.
Individual Tax Payers
|
Income
|
Tax rate
|
Savings
|
| Up to Rs2,00,000 | NIL | Rs2,060 |
| Rs2,00,001 to Rs5,00,000 | 10% | Rs2,060 |
| Rs5,00,001 to Rs10,00,000 | 20% | Rs2,060 |
| Rs10,00,001 and above | 30% | Rs22,660 |
For Women
|
Income
|
Tax rate
|
Savings
|
| Up to Rs2,00,000 | NIL | Rs1,030 |
| Rs 2,00,001 to Rs5,00,000 | 10% | Rs1,030 |
| Rs5,00,001 to Rs10,00,000 | 20% | Rs1,030 |
| Rs10,00,001 and above | 30% | Rs21,630 |
For Senior Citizens of 60 years but less than 80 years
|
Income
|
Tax rate
|
Savings
|
| Up to Rs2,50,000 | NIL | NIL |
| Rs 2,50,001 to Rs5,00,000 | 10% | NIL |
| Rs5,00,001 to Rs10,00,000 | 20% | NIL |
| Rs10,00,001 and above | 30% | Rs20,599 |
Very Senior Citizens of 80 Years and above
|
Income
|
Tax rate
|
Savings
|
| Up to Rs5,00,000 | NIL | NIL |
| Rs5,00,001 to Rs10,00,000 | 20% | NIL |
| Rs10,00,001 and above | 30% | Rs20,599 |
