Analysis of Direct Tax Under Union Budget 2012

                             FINANCE BILL 2012

                   DIRECT TAX PROVISIONS

Tax Rates for AY 2012-13 i.e. AY 2013-14

Individual/HUF/AOP,BOI, Artificial Juridical Person

Up to 200000	NIL
2000001 to 500000	10%
50000o1 to 1000000	20%
Above 1000000	30%

Exemption limit for senior citizen (age of sixty years or more but less than eighty years) Rs. 250000

Exemption limit for senior citizen (age of sixty years or more but less than eighty years) Rs. 500000

Rates of taxes for companies, firms, co operative societies, local authorities to continue