Insight On Tax Laws

TAX STRUCTURE AY ð BASIC EXEMPTION Upto 300000 nigh 200000 Upto 500000 Next 300000 Upto 800000 Rest imbue (if engagement income exceeds Rs. 10 lac ) Edu. Cess & SHE Cess Basic privilege: Super Senior Citizen (80 yrs & above) Senior Citizen (60 yrs or more) (65 yrs till 31.03.2011) house physician Woman below 60 yrs (65 yrs till 31.03.2011) IND/HUF/AOP/BOI 2009-10 150000 10% 20% 30% 30% 10% 3% 225000 180000 2010-11 160000 10% 20% 30% 30% 3% 240000 190000 2011-12 160000 10% 10% 20% 30% 3% 240000 190000 2012-13 180000 10% 10% 20% 30% 3% 500000 250000 190000

FIRM AY ð revenue Rate Surcharge (if net income exceeds 1 Crore) Edu. Cess & SHE Cess LLP (Concept introduced from AY 2010-11) AY ð valuate Rate Surcharge (if net income exceeds 1 Crore) Alternate Min. tax (AMT) (% of adjusted total income) (115JC to 115 JF) Edu. Cess & SHE Cess

2009-10 30% 10% 3% 2009-10 -

2010-11 30% 3% 2010-11 30% 3%

2011-12 30% 3% 2011-12 30% 3%

2012-13 30% 3% 2012-13 30% 18.5% 3%

Note: 115JC (I) Where the regular tax of LLP is little than the AMT on adjusted total income, LLP shall be liable to devote AMT.



(ii) Adjusted total income shall be the total income increased by deduction claimed, if any, under any section included in chapter VIA and deduction claimed if any u/s 10AA DOMESTIC gild AY ð Tax Rate Surcharge (if net income exceeds 1 Crore) Min. Alt. Tax (MAT) (% of Book Profit)(115JB) C/F of MAT Credit Dividend Tax U/s 115-O Surcharge Edu. Cess & SHE Cess TAX ON LTCG AY ð Tax Rate (with indexation benefit) Surcharge on Ind/ HUF/ AOP / BOI (if net income exceeds 10 lac) Surcharge on Firm / LLP (if net income exceeds 1 Crore) Surcharge on Domestic Company (if net income exceeds 1 Crore) Edu. Cess & SHE Cess 2009-10 30% 10% 10% 10 yrs 15% 10% 3% 2010-11 30% 10% 15% 10 yrs 15% 10% 3% 2009-10 20% 10% 10% 10% 3% 2010-11 20% 10% 3% 2011-12 30% 7.5% 18% 10 yrs 15% 7.5% 3% 2011-12 20% 7.5% 3% 2012-13 30% 5% 18.5% 10 yrs 15% 5% 3% 2012-13 20% 5% 3%

Note: 1. Tax on LTCG can be taken as 10% + SC +...If you want to get a full essay, order it on our website: Orderessay



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