Ready Reckoner

TAX STRUCTURE - INCOME
A.Y.
2009-10
A.Y.
2010-11
A.Y.
2011-12
A.Y.
2012-13
1
IND/HUF/AOP/BOI-Basic Exemption
150000#
160000#
160000#
180000#
From 100000
upto
150000
Nil
Nil
Nil
Nil
Next 10000
upto
160000
10+0.3%
Nil
Nil
Nil
Next 20000
upto
180000
10+0.3%
10+0.3%
10+0.3%
Nil
Next 120000
upto
300000
10+0.3%
10+0.3%
10+0.3%
10+0.3%
Next 200000
upto
500000
20+0.6%
20+0.6%
10+0.3%
10+0.3%
Next 300000
upto
800000
30+0.9%
30+0.9%
20+0.6%
20+0.6%
Rest
-
-
30+0.9%
30+0.9%
30+0.9%
30+0.9%
# Basic Exemption
Woman below 65 yrs
180000
190000
190000
190000
Citizen above 65 yrs
225000
240000
240000
250000
Senior Citizen above 80 yrs
225000
240000
240000
500000
** Surcharge of 10% if net income exceeds Rs 10 Lac (AY 06-07 to 09-10) before EC/SHEC included above
2
PARTNERSHIP FIRM
30+3.66%
30+0.9%#
30+0.9%#
30+0.9%
3
DOMESTIC COMPANY
REGULAR TAX
30+3.66%
30+0.9%#
30+0.9%#
30+0.9%*
#if net income exceeds Rs 1.0 Crore: 1) Surcharge of 10% before EC(2%)+SHEC(1%) included above 2) Marginal relief of tax exceeding income.
*if net income exceeds Rs 1.0 Crore: 1) Surcharge of 7.5% before EC(2%)+SHEC(1%) included above 2) Marginal relief of tax exceeding income.
4
TAX ON LONG TERM CAPITALGAIN (with indexation benefit)
# Plus S/C as applicable
IND/HUF/AOP/BOI
20+SC+EC%
20+SC+Cess%
20+SC+Cess%
20+Cess%
DOMESTIC CO./FIRM
22.44%
20+0.6%#
20+0.6%#
20+0.6%#
Notes:
1) Tax on LTCG can be taken as 10%+SC+Cess in case of transfer of shares / securities / units /government
     securities without indexation benefit
2) Income from LTCG is exempt in case of transfer of equity shares / units of equity oriented fund which are
     liable to STT
5
TAX ON S T CAPITAL GAIN (ON TRANSFER OF SECURITIES-SEC 111A)
10+SC+EC%
10+SC+EC%
15+0.45%#
15+0.45%#
#if net income exceeds Rs 1.0 Crore: 1) Surcharge of 10% before EC(2%)+SHEC(1%) included above 2) Marginal relief of tax exceeding income
Interest NSC (on every Rs 1000)
1st year
2nd Year
3rd Year
4th Year
5th Year
6th Year
15.01.2000-28.02.2001
113.0
125.8
140.0
155.8
173.5
193.1
01.03.2001-28.02.2002
97.2
106.7
117.1
128.5
141.0
154.7
01.03.2002-28.02.2003
92.0
100.5
109.7
119.8
130.9
142.9
01.03.2003 and after
81.6
88.3
95.5
103.3
111.7
120.8
INTEREST ON INCOME TAX
1.Filing of return after due date u/sec 234A
Int @ 1% pm or part of the mth from the end of Due Date for filing of return
2.Defaults in pymt of Advance Tax u/s 234B
Int @ 1% pm or part of the mth from the 1st day of April of the AY
3.Deferment in pymt of Advance Tax u/s 234C
Int @ 1% pm or part of the mth on the deficit amt as applicable
4.Interest for late pymt of demand u/s 156
Int @ 1% pm or part of the mth from the end of 30 days of Demand Notice
5.Failure to deduct and pay TDS u/s 201(1A)
Int @ 1% pm or part of mth from the date on which tax was deductible