Finance Minister has Just announce the Income Tax rates for Individuals , HUF(Hindu Undivided Family ),Female Senior citizen and very senior citizen In Union Budget 2012-13 and these rates are applicable for Financial year 2012-13 .We have prepared a small Calculator which will help you to calculate the tax benefit due to change in Income Tax rates and changes in slabs. You just have to click on "click on edit" button and then fill your taxable income in yellow cell , income tax benefit for Financial year 2012-13 due to union budget 2012-13 will be shown to you. Income tax calculation is shown for Individual less than 60, female less than 60 and individual between 60 to 80 year and very senior citizen above 80Years separately for each categories.
Finance Minister has Increased the exemption Limit to 2,00,000 from earlier 1,80,000 .Further Tax slab for 20% has now extended up to 10 Lakhs . No change in exemption limit for senior citizen and very senior citizen. After implementation of these limit and changes maximum benefit to females assessee less than 60 is 21630 , male less than 60 will be 22660 and senior citizen and very senior citizen tax benefit will be 20600.
Good news for taxpayers , now you can check your status of Income Tax Refund with click of their mouse! the scheme is called Refund pilot scheme.As shown in TIN-NSDL website you can check refund status Assessment year 1998-99 to 2010-11.The Scheme is restricted to few CIT butwill soon extended to other area also.
Status will be available only for those taxpayers whose refunds are to go through refund banker pilot scheme.To check the refund status please fill the form and press submit and you will guided to new page from where you can check your refund status by pan ...so check now.