| For Financial Year 2012-13 |
| For Individual |
Woman (Below 60 Years) |
Senior Citizen (Above 60 Years but below 80 Years) |
Super Senior Citizen (Above 80 Years) |
Tax Rate |
| Up to Rs. 2,00,000 |
Up to Rs. 2,00,000 |
Up to Rs. 2,00,000 |
Up to Rs. 5,00,000 |
NIL |
| Rs. 2,00,001 - Rs. 5,00,000 |
Rs. 2,00,001 - Rs. 5,00,000 |
Rs. 2,00,001 - Rs. 5,00,000 |
- |
10% |
| Rs. 5,00,001 - Rs. 10,00,000 |
Rs. 5,00,001 - Rs. 10,00,000 |
Rs. 5,00,001 - Rs. 10,00,000 |
Rs. 5,00,001 - Rs. 10,00,000 |
20% |
| Above Rs. 10,00,001 |
Above Rs. 10,00,001 |
Above Rs. 10,00,001 |
Above Rs. 10,00,001 |
30% |
Note:
An education cess of 2 per cent is applicable on the taxable income. A further tax of 1 per cent is charged as a higher education cess payable on taxable income.
| Income Tax Section |
Gross Annual Salary |
How Much Tax Can You Save? |
| Sec. 80C |
Across all income slabs |
Up to Rs. 30,900/- saved on investment of Rs. 1,00,000/- |
| Sec. 80CCC |
Across all income slabs |
Up to Rs. 30,900/- saved on Investment of Rs.1,00,000/- |
| Sec. 80 D* |
Across all income slabs |
Up to Rs. 9,270/- saved on investment of Rs. 30,000/-
(Inclusive of Rs.15,000/- towards health insurance of parents) |
Up to Rs. 10,815/- saved on investment of Rs.35,000/-
(Inclusive of Rs. 20,000/- towards health insurance of parents who
are senior citizens) |
| Sec 80CCF |
Across all income slabs |
Up to Rs. 6,810/- saved on investment of Rs. 20,000/- (Investment In Infrastructure Bonds over and above 80C limit of Rs.1,00,000/-) |
Total Savings
Possible ** |
Rs. 47,895/-
- Rs. 30,900/- under Sec. 80C and Sec. 80CCC
- Rs. 9,270/- or Rs. 10,815/- under Sec. 80D
- Rs.6,180/- under Sec. 80CCF
- Above figures calculated for a male with gross annual income exceeding Rs. 10,00,000/-
|
| Sec. 10 (10)D |
Under Sec. 10(10D), the benefits received by you are completely
tax-free |
- Applicable to premiums paid for all Health Insurance Plans, Critical Illness Benefit, Accelerated Sum Assured and Waiver of Premium Benefit.
-
** These calculations are illustrative and based on our understanding of current tax legislations.
|
* The above-mentioned tax benefits are subject to changes in the tax laws. Please contact your tax consultant for an exact calculation of your tax liabilities
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