Income tax is paid on the total sum of money or income that you have earned during preceding financial year.You have to pay tax on last years income not this year.For year 2012 you have to pay what you have earned in 2011.It is calculated from beginning on 1st April to 31st March of previous year.
For Individual male,Age less than 60 Years
Up to 180000 : Nil
180001-500000 : 10%
500001-800000 : 20%
800001 & above : 30%
For Individual female,Age less 60 years
Up to 190000 : Nil
190001-500000 : 10%
500001-800000 : 20%
800001 & above : 30%
For Individual, Age more than 60 Years ( Senior Citizen)
Up to 250000 : Nil
250001-500000 : 10%
500001-800000 : 20%
800001 & above : 30%
For Individual ,Age more than 80 Years ( Super Citizen )
Up to 500000 : Nil
500001-800000 : 20%
800001 & above : 30%
Further there is no change in education and other cess.