INCOME TAX RATES (LAST 8 YEARS)

INCOME TAX RATES OF LAST EIGHT YEARS

A: INCOME TAX FOR INDIVIDUALS, HINDU UNDIVIDED FAMILIES,

BODY OF INDIVIDUAL AND ASSOCIATION OF PERSON OTHER THAN COMPANIES

NOTES –(1) Exemption limit for A.Y. 2010-2011 and 2011-2012, Rs. 1,60,000 for male and Rs. 1,90,000 for female and Rs 2,40,000 for senior citizens.

(2) For F.Y. 2010-2011 (A.Y. 2011-12), slab rates for individuals revised as follows – upto Rs. 5 Lacs, 10% between Rs. 5 Lacs to 8 Lacs, 20%; and above Rs. 8 Lacs 10%.

(3) Exemption limit for A. Y. 2012-13 raised to Rs 1,80,000 for male and female Rs 1,90,000 and Rs 2,50,000 for senior citizens (60-80 years) and above 80 years senior citizens to Rs 5 Lacs.

(4) Qualifying age of senior citizens reduced from 65 years to 60 years w.e.f. A/. Y. 2012-13 (F. Y. 2011-2012).

INCOME	INCOME TAX For Individuals, BOI, AOP's and All type of HUF's
	A.Y.2006-07	A.Y.2007-08	A.Y.2008-09	A.Y.2009-10	A.Y.2010-11	A.Y.2011-12	A.Y.2012-13	A.Y.2013-14
Upto Rs. 50,000	NIL	NIL	NIL	NIL	NIL	NIL	NIL	NIL
Next Rs. 10,000	NIL	NIL	NIL	NIL	NIL	NIL	NIL	NIL
Next Rs. 40,000	NIL	NIL	NIL	NIL	NIL	NIL	NIL	NIL
Next Rs. 20,000	10%	10%	10%	NIL	NIL	NIL	NIL	NIL
Next Rs. 30,000	10%	10%	10%	NIL	NIL	NIL	NIL	NIL
Next Rs. 10,000	20%	20%	20%	10%	NIL	NIL	NIL	NIL
Next Rs. 20,000	20%	20%	20%	10%	10%	10%	NIL	NIL
Next Rs. 20,000	20%	20%	20%	10%	10%	10%	10%	NIL
Next Rs. 1,00,000	30%	30%	30%	20%	10%	10%	10%	10%
Next Rs. 2,00,000	30%	30%	30%	20%	20%	10%	10%	10%
Next Rs. 3,00,000	30%	30%	30%	20%	30%	20%	20%	20%
Next Rs. 2,00,000	30%	30%	30%	30%	30%	30%	30%	20%
On Balance	30%	30%	30%	30%	30%	30%	30%	30%

Surcharge on Income Tax

S. No.	Assessment Year	Income Exceeds	Rate of Tax
1.	2006-2007 Onwards	10,00,000	10%
2.	2010-2011 Onwards	NIL	NIL

Note:- 
(1) From A. Y. 2008-2009, additional Secondary & Higher Education Cess levied @ 1% on I. T. and Surcharge.
(2) Surcharge @ 10% eliminated on Individuals from A. Y. 2010-2011 onwards.
(3) For A. Y. 2014-2015, 10% surcharge levied of Income Tax on individual, HUF, AOP and BOI, if total income exceed Rs. 1 Crore.