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Computation of Income tax for Individuals and HUFs for the Assessment Year 2012-13 (FY 2011-12)

A. Individuals and HUFs

In case of individual (other than II, III and IV below) and HUF:-

Education Cess:3% of the Income-tax.

II. In case of individual being a woman resident in India and below the age of 60 years at any time during the previous year:-

Education Cess:3% of the Income-tax.

Clcik Here for Steps of Computation of Income tax for Individuals and HUFs for the Assessment Year 2012-13

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III. In case of an individual resident who is of the age of 60 years or more at any time during the previous year:-

Education Cess:3% of the Income-tax.

IV. In case of an individual resident who is of the age of 80 years or more at any time during the previous year:-

Education Cess:3% of the Income-tax.

B. Association of Persons (AOP) and Body of Individuals (BOI)

i. Income-tax:

ii. Education Cess:3% of the Income-tax.

C. Co-operative Society

i. Income-tax:



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ii. Surcharge:Nil

iii. Education Cess:3% of the Income-tax.

D. Firm

i. Income-tax:30% of total income.

ii. Surcharge:Nil

iii. Education Cess:3% of the total of Income-tax and Surcharge.

E. Local Authority

i. Income-tax:30% of total income.

ii. Surcharge:Nil

iii. Education Cess:3% of Income-tax.

F. Domestic Company

i. Income-tax:30% of total income.

ii. Surcharge:The amount of income tax as computed in accordance with above rates, and after being reduced by the amount of tax rebate shall be increased by a surcharge at the rate of 5% of such income tax, provided that the total income exceeds Rs. 1 crore.

iii. Education Cess:3% of the total of Income-tax and Surcharge.

G. Company other than a Domestic Company

i. Income-tax:

ii. Surcharge:The amount of income tax as computed in accordance with above rates, and after being reduced by the amount of tax rebate shall be increased by a surcharge at the rate of 2.5% of such income tax, provided that the total income exceeds Rs. 1 crore.

iii. Education Cess:3% of the total of Income-tax and Surcharge.

Click here for Free Download'Income Tax Calculating Software in Excel Format
for Individuals and HUFs for the Assessment Year 2012-13 (FY 2011-12)'


Steps of Computation of Income tax for Individuals and HUFs
for the Assessment Year 2012-13

Calculate Your Income Tax Liability for the Financial Year 2011-12 with following simple steps

Step I : Calculate your Gross Income for the Financial Year 2009-10

Procedure to calculate your Gross Income of the year=Monthly Income multiplied by number of months of the year income received (i.e. Monthly Income X 12)

Step II : Investments/ Deductions u/s 80C, 80CCC, 80CCD & 80D for self / family 80D for parents And Other deduction

Calculate your total Investments to get rebate u/s of Income Tax Act. This may include all the eligible savings and investments u/s 80C, 80CCC, 80CCD & 80D. Please Click Here for more details.

Step III : Deduction under Section 80G:

Calculate the various donations made during the year specified in Sec. 80G are eligible for deduction upto either 100% or 50% with or without restriction as provided in Sec. 80G

Step IV : Computation of Taxable Income as per Income Tax Act

Please calculate taxable income with following simple steps

Amount arrived at above Step I - ( Amount arrived at above Step II + Amount arrived at above Step III)=Taxable Income

Step V : Calculation of Income Tax

For calculation of Income tax on taxable income please refer to the tax rates / slabs as under according to your income and calculate your Income tax.

Step VI: Education Cess

Education Cess is 3 % of income tax arrived at step V

Step VII: Calculate total Income Tax Liability

Please add amount of Education Cess arrived at step VI to the amount of Income tax arrived at Step V to calculate Total amount of Income Tax payable










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