Related links
- Apprentice Act,1961
- Building & Other Construction Workers Welfare Cess Act,1996
- Contract Labour Act,1970
- Employees Provident Fund Act, 1952
- Employees State Insurance Act,1948
- Factories Act, 1948
- Income Tax Act,1961
- Industrial Disputes Act, 1947
- Maternity Benefit Act,1961
- Minimum Wages Act,1948
- Payment of Bonus Act,1965
- Payment of Gratuity Act,1972
- Payment of Wages Act,1936
- Professional Tax
- Trade Unions Act, 1926
- Workmen Compensation Act, 1923
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Income tax
Object of the Act:
Every Person whose total income exceeds the maximum amount which is not chargeable to the income tax is an assesse, and shall be chargeable to the income tax at the rate or rates prescribed under the finance act for the relevant assessment year, shall be determined on basis of his residential status.
Income tax is a tax payable, at the rate enacted by the Union Budget (Finance Act) for every Assessment Year, on the Total Income earned in the Previous Year by every Person.
Income Tax Rates/Slabs for A.Y. (2011-12)
| Slab (Rs.) |
Tax (Rs.) |
| less than 1,80,000 |
Nil |
| 1,80,000 to 3,00,000 |
(TI – 1,80,000) * 10% |
| 3,00,000 to 5,00,000 |
14,000 + (TI – 3,00,000) * 20% |
| Greater than 5,00,000 |
54,000 + (TI – 5,00,000) * 30% |
Women aged 65 years or less
| Slab (Rs.) |
Tax (Rs.) |
| less than 1,90,000 |
Nil |
| 1,90,000 to 3,00,000 |
(TI – 1,90,000) * 10% |
| 3,00,000 to 5,00,000 |
11,000 + (TI – 3,00,000) * 20% |
| Greater than 5,00,000 |
51,000 + (TI – 5,00,000) * 30% |
Senior Citizens (Individuals aged above 65 years)
| Slab (Rs.) |
Tax (Rs.) |
| less than 2,50,000 |
Nil |
| 2,50,000 to 3,00,000 |
(TI – 2,50,000) * 10% |
| 3,00,000 to 5,00,000 |
6,000 + (TI – 3,00,000) * 20% |
| Greater than 5,00,000 |
46,000 + (TI – 5,00,000) * 30% |
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Current time
Tax Calculator 2011-12
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