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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% | |||
For further information contact Prajna Capital on 94 8300 8300 by leaving a missed call
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