Indian Income tax slabs and TDS details for FY 2011-12


Individuals Tax rates

Men

Upto  1,80,000        Nil

180001-  500000   10%

500001-  800000   20%

Above 800000        30%

Women

Upto 1,90,000        Nil

190001-  500000   10%

500001- 800000    20%

Above 800000        30%

Senior Citizen (60 years-80 years)

Upto 250000            Nil

250001-  500000    10%

500001- 800000    20%

Above 800000        30%

Senior Citizen (80 years above)

Upto 500000            Nil

500001- 800000    20%

Above 800000        30%

All deductions and rebates  for individuals remains the same.

TDS rates for 2011-12

Sec. 192     Salaries                                              Average rate        No TDS if amount is within the limit  given below (per annum)

Sec. 193     Interest on securites (banks)      10%                                                            10000

Sec.194A  Interest other than securitie        10%                                                              5000

Sec.194B  Lottery/Crossword puzzle             30%                                                           10000

Sec.194C(1)&(2) Contracts                                  1%  individuals   for others 2%      30000

 Sec.194(H)  Commission& Brokerage          10%                                                             5000

Sec.194(I)    Rent on buildings &Land            10%                                                          180000

                        Rent on Furniture, P&M, Equip  2%                                                          180000

Sec.194 (J)  Professional/technical charges 10%                                                            30000

                            

C.R. Venkata Ramani

(AICWA)

Advertisements

3 thoughts on “Indian Income tax slabs and TDS details for FY 2011-12

  1. Hi Venkataramani
    This is with reference to the income tax slab rates for the financial year 2011-12.
    As I understand the senior citizen benefit of increased deduction is applicabe
    only to Resident Senior Citizens and not for non residents. Please clarify.Thanks,
    S.Ramachandran.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s