India Income Tax Slabs and Rates for FY 2012-13 (AY 2013-14)
Historical income tax rates for individuals, Hindu Undivided Families, associations, co-operative societies, partnership firms, local authorities and companies in India.
Meaning of financial year and assessment year
The financial year (previous year) is the period in which income is earned. The assessment year is the following year in which that income is assessed. Accordingly, FY 2012-13 corresponds to AY 2013-14. The rates below follow the Finance Act, 2012 and official CBDT Circular No. 8/2012, where applicable.
Individuals below 60 years and HUFs
| Taxable income | Income tax |
|---|---|
| Up to Rs. 2,00,000 | Nil |
| Rs. 2,00,001 to Rs. 5,00,000 | 10% of income above Rs. 2,00,000 |
| Rs. 5,00,001 to Rs. 10,00,000 | Rs. 30,000 plus 20% of income above Rs. 5,00,000 |
| Above Rs. 10,00,000 | Rs. 1,30,000 plus 30% of income above Rs. 10,00,000 |
Resident senior citizens aged 60 to below 80 years
The higher basic exemption was available to resident individuals meeting the age condition during the relevant previous year.
| Taxable income | Income tax |
|---|---|
| Up to Rs. 2,50,000 | Nil |
| Rs. 2,50,001 to Rs. 5,00,000 | 10% of income above Rs. 2,50,000 |
| Rs. 5,00,001 to Rs. 10,00,000 | Rs. 25,000 plus 20% of income above Rs. 5,00,000 |
| Above Rs. 10,00,000 | Rs. 1,25,000 plus 30% of income above Rs. 10,00,000 |
Resident super senior citizens aged 80 years or more
| Taxable income | Income tax |
|---|---|
| Up to Rs. 5,00,000 | Nil |
| Rs. 5,00,001 to Rs. 10,00,000 | 20% of income above Rs. 5,00,000 |
| Above Rs. 10,00,000 | Rs. 1,00,000 plus 30% of income above Rs. 10,00,000 |
Age-based basic exemption limits were restricted to qualifying resident individuals, not HUFs or non-resident individuals.
Associations of Persons (AOP) and Bodies of Individuals (BOI)
The general slab schedule for FY 2012-13 was nil up to Rs. 2,00,000; 10% from Rs. 2,00,001 to Rs. 5,00,000; 20% from Rs. 5,00,001 to Rs. 10,00,000; and 30% above Rs. 10,00,000. Special rules under sections 167A and 167B of the Income-tax Act, 1961 could require taxation at the maximum marginal rate or other applicable rates depending on the members and their income. The ordinary slab schedule must therefore not be assumed to apply to every AOP or BOI.
Co-operative societies
| Taxable income | Income tax |
|---|---|
| Up to Rs. 10,000 | 10% of taxable income |
| Rs. 10,001 to Rs. 20,000 | Rs. 1,000 plus 20% of income above Rs. 10,000 |
| Above Rs. 20,000 | Rs. 3,000 plus 30% of income above Rs. 20,000 |
Partnership firms and local authorities
For FY 2012-13, a partnership firm, including an LLP assessed as a firm, was generally taxed at a flat 30% of taxable income. A local authority was also generally taxed at 30%. Applicable education cess was additional.
Domestic companies
The normal corporate income tax rate for a domestic company was 30%. A surcharge of 5% of income tax applied where total income exceeded Rs. 1 crore, subject to applicable marginal relief. Education cess and secondary and higher education cess were charged in addition.
Foreign companies (companies other than domestic companies)
The general rate was 40%. A 50% rate applied to specified royalty and fees for technical services received under qualifying older agreements with the Government or an Indian concern, subject to statutory conditions, including the relevant agreement dates and approvals. A 2% surcharge applied where total income exceeded Rs. 1 crore, subject to marginal relief.
Education cess and surcharge for AY 2013-14
Education cess of 2% and secondary and higher education cess of 1% together amounted to 3% of income tax plus applicable surcharge. This historical cess must not be confused with the present health and education cess of 4%. Taxation of particular income, including certain capital gains and other special-rate income, may differ from the general slabs.
Current income tax slabs: FY 2025-26 (AY 2026-27)
Under section 115BAC, the new tax regime is generally the default for eligible individuals, HUFs and certain other taxpayers, subject to the applicable option rules. For AY 2026-27 the new-regime slabs are:
| Taxable income | New regime rate |
|---|---|
| Up to Rs. 4,00,000 | Nil |
| Rs. 4,00,001 to Rs. 8,00,000 | 5% |
| Rs. 8,00,001 to Rs. 12,00,000 | 10% |
| Rs. 12,00,001 to Rs. 16,00,000 | 15% |
| Rs. 16,00,001 to Rs. 20,00,000 | 20% |
| Rs. 20,00,001 to Rs. 24,00,000 | 25% |
| Above Rs. 24,00,000 | 30% |
These are marginal slab rates. Under section 87A, eligible resident individuals with qualifying total income up to Rs. 12 lakh can receive a rebate of up to Rs. 60,000 under the new regime for AY 2026-27; special-rate income and other statutory limitations can affect the rebate. The 4% health and education cess and any applicable surcharge are additional. See the official AY 2026-27 rate tables and rebate rules for details.
Official references and statutory provisions
- CBDT Circular No. 8/2012: FY 2012-13 tax rates
- Finance Bill memorandum: AY 2013-14 rate provisions
- Income Tax Department: current individual tax slabs
- Income Tax Department: HUF tax slabs
- Income Tax Department: AOP and BOI taxation
This article preserves FY 2012-13 rates for historical research and provides a separate current-year reference. Actual liability depends on residential status, classification, deductions, exemptions, special-rate income and the law applicable to the relevant assessment year.