TAX SAVINGS UNDER NEW TAX SLAB 2010-11

Indraneel Sen Gupta , Last updated: 26 February 2010  
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Tax Impact for Resident Individuals and Hindu Undivided Families 
Gross Total Income (Rs)  3,00,000  5,00,000 
  A.Y. 2010-11  A.Y. 2011-12  A.Y. 2010-11  A.Y. 2011-12 
Gross Income  300000 300000 500000 500000
Tax Benefit u/s 80C 100000 100000 100000 100000
Tx exemption under Infra Bonds   20000   20000
Net Taxable Income post sec. 80C  200000 180000 400000 380000
Income Exempt from Tax as per slabs 160000 160000 160000 160000
Taxable Amount  40000 20000 240000 220000
Amount taxable @ 10% 40000 20000 140000 220000
Amount taxable @ 20% 0 0 100000 0
Amount taxable @ 30% 0 0 0 0
Tax Amount Pre-Cess  4000 2000 34000 22000
Education cess @3% 120 60 1020 660
Total Tax Payable  4120 2060 35020 22660
Tax Impact for Resident Individuals and Hindu Undivided Families 
Gross Total Income (Rs)  8,00,000  10,00,000 
  A.Y. 2010-11  A.Y. 2011-12  A.Y. 2010-11  A.Y. 2011-12 
Gross Income  800000 800000 1000000 1000000
Tax Benefit u/s 80C 100000 100000 100000 100000
Tx exemption under Infra Bonds   20000   20000
Net Taxable Income post sec. 80C  700000 680000 900000 880000
Income Exempt from Tax as per slabs 160000 160000 160000 160000
Taxable Amount  540000 520000 740000 720000
Amount taxable @ 10% 140000 340000 140000 340000
Amount taxable @ 20% 200000 180000 200000 300000
Amount taxable @ 30% 200000 0 400000 80000
Tax Amount Pre-Cess  114000 70000 174000 118000
Education cess @3% 3420 2100 5220 3540
Total Tax Payable  117420 72100 179220 1215
         
         
Tax Impact for Resident Woman below 65 years of age 
Gross Total Income (Rs)  3,00,000  5,00,000 
  A.Y. 2010-11  A.Y. 2011-12  A.Y. 2010-11  A.Y. 2011-12 
Gross Income  300000 300000 500000 500000
Tax Impact for Resident Senior Citizens             
Gross Total Income (Rs)  3,00,000  5,00,000  8,00,000  10,00,000  15,00,000 
  A.Y. 2010-11  A.Y. 2011-12  A.Y. 2010-11  A.Y. 2011-12  A.Y. 2010-11  A.Y. 2011-12  A.Y. 2010-11  A.Y. 2011-12  A.Y. 2010-11  A.Y. 2011-12 
Gross Income  300000 300000 500000 500000 800000 800000 1000000 1000000 1500000 1500000
Tax Benefit u/s 80C 100000 100000 100000 100000 100000 100000 100000 100000 100000 100000
Tx exemption under Infra Bonds   20000   20000   20000   20000   20000
Net Taxable Income post sec. 80C  200000 180000 400000 380000 700000 680000 900000 880000 1400000 1380000
Income Exempt from Tax as per slabs 240000 240000 240000 240000 240000 240000 240000 240000 240000 240000
Taxable Amount  0 0 160000 140000 460000 440000 660000 640000 1160000 1140000
Amount taxable @ 10% 0 0 60000 140000 60000 260000 60000 260000 60000 260000
Amount taxable @ 20% 0 0 100000 0 200000 180000 200000 300000 200000 300000
Amount taxable @ 30% 0 0 0 0 200000 0 400000 80000 900000 580000
Tax Amount Pre-Cess  0 0 26000 14000 106000 62000 166000 110000 316000 260000
Education cess @3% 0 0 780 420 3180 1860 4980 3300 9480 7800
Total Tax Payable  0 0 26780 14420 109180 63860 170980 113300 325480 267800
Tax Impact for Resident Woman below 65 years of age             
Gross Total Income (Rs)  3,00,000  5,00,000  8,00,000  10,00,000  15,00,000 
  A.Y. 2010-11  A.Y. 2011-12  A.Y. 2010-11  A.Y. 2011-12  A.Y. 2010-11  A.Y. 2011-12  A.Y. 2010-11  A.Y. 2011-12  A.Y. 2010-11  A.Y. 2011-12 
Gross Income  300000 300000 500000 500000 800000 800000 1000000 1000000 1500000 1500000
Tax Benefit u/s 80C 100000 100000 100000 100000 100000 100000 100000 100000 100000 100000
Tx exemption under Infra Bonds   20000   20000   20000   20000   20000
Net Taxable Income post sec. 80C  200000 180000 400000 380000 700000 680000 900000 880000 1400000 1380000
Income Exempt from Tax as per slabs 190000 190000 190000 190000 190000 190000 190000 190000 190000 190000
Taxable Amount  10000 0 210000 190000 510000 490000 710000 690000 1210000 1190000
Amount taxable @ 10% 10000 0 110000 190000 110000 310000 110000 310000 110000 310000
Amount taxable @ 20% 0 0 100000 0 200000 180000 200000 300000 200000 300000
Amount taxable @ 30% 0 0 0 0 200000 0 400000 80000 900000 580000
Tax Amount Pre-Cess  1000 0 31000 19000 111000 67000 171000 115000 321000 265000
Education cess @3% 30 0 930 570 3330 2010 5130 3450 9630 7950
Total Tax Payable  1030 0 31930 19570 114330 69010 176130 118450 330630 272950
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Indraneel Sen Gupta
(Researcher|Writer| Economist| Product |Business Development |Speaker| Sales |Financial Planning| Private Equity |Investment Banking |Model Portfolio Strategist| Business Strategist| AI Models |Global Macro Analyst|)
Category Income Tax   Report

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