Income Tax Slabs for 2012 - 2013

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Income Tax Rates for 2012 - 2013

We present to you a snapshot of Income Tax Rates for FY 2012-13 along with Capital Gains tax on Mutual Fund redemptions, Dividends treatment and DDT (Dividend Distribution Tax) for Resident individuals and NRIs.

I. Income Tax Slab Rates for Individuals:

Male/Female less than 60 years’ age

	INCOME		TAX RATE
Upto Rs 2 Lakhs		NIL
> INR 2 Lakhs-INR 5 Lakhs		10%
> INR 5 Lakhs-INR 10 Lakhs		20%
>INR 10 Lakhs		30%

Senior Citizen (60 years and above)

	INCOME		TAX RATE
Upto Rs 2.5 Lakhs		NIL
> INR 2.5 Lakhs-INR 5 Lakhs		10%
> INR 5 Lakhs-INR 10 Lakhs		20%
>INR 10 Lakhs		30%

Very Senior Citizen (80 years and above)

	INCOME		TAX RATE
Upto Rs 5 Lakhs		NIL
> INR 5 Lakhs-INR 10 Lakhs		20%
>INR 10 Lakhs		30%

II. Dividends Received from Mutual Fund investments:

	Equity-Oriented Schemes		Tax Free
Debt-Oriented Schemes		Tax Free

III. DDT or Dividend Distribution tax:

DDT or Dividend Distribution Tax is applicable on debt-oriented mutual fund schemes. The tax is payable directly by the company distributing the dividends and the investor receives the dividend net of such tax payment. Such dividends received are fully tax exempt for investors.

	Money Market or Liquid Schemes		25%+ 5% Surcharge+ 3% Cess
Effective DDT Rate		=27.0375%
Non-Liquid Schemes		12.5%+ 5% Surcharge+ 3% Cess
Effective DDT Rate		=13.519%

IV. Short-Term Capital Gains Tax:

For mutual fund units held for less than 1 year, short-term capital gains tax is applicable as below.

	Equity-Oriented Schemes		15% + 3% Cess =15.450%
Debt-Oriented Schemes		As per individual tax slab rate + 3% Cess

V. Long-Term Capital Gains Tax:

For mutual fund units held for more than 1 year, long-term capital gains tax is applicable as below.

	Equity Schemes		Nil
Non- Equity Schemes (listed)		[10% without indexation or 20% with indexation, whichever is lower] + 3% Cess
[A] Without Indexation		=10.30%
[B] With Indexation		=20.60%

 

 

 

 

 

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