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RETURNING NRIs CORNER - RATES OF TAXABLE INCOME
FINANCIAL YR 2012-13^1.)FOR THE FINANCIAL YR 2011-12^2.)

^1.)FOR THE FINANCIAL YEAR 2012-13

1. For Individual / HUF

	TOTAL INCOME (INR)	RATE OF INCOME TAX
i)	0 < 2,00,000	NIL
ii)	2,00,001 < 5,00,000	10% of the amount by which the total income exceeds Rs.2,00,000
iii)	5,00,001 < 10,00,000	Rs.30,000 + 20% of amount by which the total income exceeds Rs.5,00,000
iv)	Total income more than 10,00,000	Rs.1,30,000 + 30% of amount by which the total income exceeds Rs.10,00,000

2. For Resident Senior Citizen i.e. who is of an age of 60 years and above, but below 80 years.

	TOTAL INCOME (INR)	RATE OF INCOME TAX
i)	0 < 2,50,000	NIL
ii)	2,50,001 < 5,00,000	10% of the amount by which the total income exceeds Rs.2,50,000
iii)	5,00,001 < 10,00,000	Rs.25,000 + 20% of amount by which the total income exceeds Rs.5,00,000
iv)	Total income more than 10,00,000	Rs.1,25,000 + 30% of amount by which the total income exceeds Rs.10,00,000

3. For Resident Very Senior Citizen i.e. who is of an age of 80 years and above.

	TOTAL INCOME (INR)	RATE OF INCOME TAX
i)	0 < 5,00,000	NIL
ii)	5,00,001 < 10,00,000	20% of amount by which the total income exceeds Rs.5,00,000
iii)	Total income more than 10,00,000	Rs.1,00,000 + 30% of amount by which the total income exceeds Rs.10,00,000

^2.)FOR THE FINANCIAL YEAR 2011-12

1. For Individual / HUF

	TOTAL INCOME (INR)	RATE OF INCOME TAX
i)	0 < 1,80,000	NIL
ii)	1,80,001 < 5,00,000	10% of the amount by which the total income exceeds Rs.1,80,000
iii)	5,00,001 < 8,00,000	Rs.32,000 + 20% of amount by which the total income exceeds Rs.5,00,000
iv)	Total income more than 8,00,000	Rs.92,000 + 30% of amount by which the total income exceeds Rs.8,00,000

2. For Resident woman who is below the age of 60 years.

	TOTAL INCOME (INR)	RATE OF INCOME TAX
i)	0 < 1,90,000	NIL
ii)	1,90,001 < 5,00,000	10% of the amount by which the total income exceeds Rs.1,90,000
iii)	5,00,001 < 8,00,000	Rs.31,000 + 20% of amount by which the total income exceeds Rs.5,00,000
iv)	Total income more than 8,00,000	Rs.91,000 + 30% of amount by which the total income exceeds Rs.8,00,000

3. For Resident Senior Citizen i.e. who is of an age of 60 years and above, but below 80 years.

	TOTAL INCOME (INR)	RATE OF INCOME TAX
i)	0 < 2,50,000	NIL
ii)	2,50,001 < 5,00,000	10% of the amount by which the total income exceeds Rs.2,50,000
iii)	5,00,001 < 8,00,000	Rs.25,000 + 20% of amount by which the total income exceeds Rs.5,00,000
iv)	Total income more than 8,00,000	Rs.85,000 + 30% of amount by which the total income exceeds Rs.8,00,000

4. For Resident Very Senior Citizen i.e. who is of an age of 80 years and above.

	TOTAL INCOME (INR)	RATE OF INCOME TAX
i)	0 < 5,00,000	NIL
ii)	5,00,001 < 8,00,000	20% of amount by which the total income exceeds Rs.5,00,000
iii)	Total income more than 8,00,000	Rs.86,000 + 30% of amount by which the total income exceeds Rs.8,00,000

Special Rates For Income Tax:- (For the Financial Year 2012-13 & 2011-12)

4. Short Term Capital Gain

	INCOME (INR)	RATE OF INCOME TAX %
i)	Short Term Capital Gain of Equity Shares or unit of an equity oriented fund	15%
ii)	Other Short Term Capital Gain	Normal rate of Tax of 0% to 30%
iii)	Benefit of Threshold Exemption Limit is not available to NRI

5. Long Term Capital Gain

	INCOME (INR)	RATE OF INCOME TAX %
i)	Long Term Capital Gain from equity share or unit of an equity oriented fund	Exempt
ii)	Long Term Capital Gain from listed securities	Tax @ 20% after indexation. or Tax @ 10% without indexation.
iii)	Long term Capital Gains on Specified Assets (In case of NRI)	10%
iv)	Long Term Capital Gain other than the above	20%
v)	Benefit of Threshold Exemption Limit is not available to NRI

TDS RATE CHART FOR FINANCIAL YEAR 2012-13 FOR RETURNING NRIs
Sr. No.	Nature of Payments		Threshold Limit (in Rs.)	Rate in %
			W.e.f. 01.07.10
1	Interest From Bank		10000	10
2	Other Interest – eg. On company Deposits, Post Office accounts, etc.		5000	10
3	Commission/Brokerage		5000	10
4	Property Rent		180000	10
5	Plant/Machinery Rent		180000	2
6	Professional Fees		30000	10
7	Salary		Rs. 2,00,000 (Individual / HUF) Rs. 250000 (Senior Citizen), and Rs. 500000 (Very Senior Citizen)	TDS @ Applicable slab Rate

Note – 1		Surcharge and Education Cess is not applicable on TDS on any payment made to Resident.
Note – 2		If PAN not provided by the Deductee then rate as per above table or 20% which ever is higher is to be deducted.
Note – 3		So forth status of the Returning NRI is Resident but Not Ordinary Resident (R but NOR), Interest on FCNR Deposits and RFC Deposits is exempt from Tax and hence not liable for TDS. His global income will also not be charged to tax in India.

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