Expected New Income tax slab from 2012-13

NEW TAX CODE TAX DEDUCTION LIMIT ON SAVINGS LIKELY  TO BE HIKED To Rs 3 lakh (Rs 3,00,000).
Proposed Income Tax Rates for Individuals
Up to Rs.1,60,000	Nil
From Rs.1,60,000 to Rs.10,00,000	10 Per cent (Income exceeds Rs.1,60,000)
From Rs.10,00,000 to 25,00,000	20 Per cent (Rs.84,000 + Income exceeds Rs.10,00,000)
Above Rs.25,00,000	30 Per cent (Rs.3,84,000 + Income exceeds Rs.25,00,000)

Proposed Income Tax Rates for Women-below 65 years

 

Up to Rs.1,90,000	Nil
From Rs.1,90,000 to Rs.10,00,000	10 Per cent (Income exceeds Rs.1,90,000)
From Rs.10,00,000 to 25,00,000	20 Per cent (Rs.81,000 + Income exceeds Rs.10,00,000)
Above Rs.25,00,000	30 Per cent (Rs.3,81,000 + Income exceeds Rs.25,00,000)

Proposed Income Tax Rates for Senior Citizens
Up to Rs.2,40,000	Nil
From Rs.2,40,000 to Rs.10,00,000	10 Per cent (Income exceeds Rs.2,40,000)
From Rs.10,00,000 to 25,00,000	20 Per cent (Rs.76,000 + Income exceeds Rs.10,00,000)
Above Rs.25,00,000	30 Per cent (Rs.3,76,000 + Income exceeds Rs.25,00,000)