etds tds on salary income

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Querist : Anonymous

Querist : Anonymous (Querist)

26 April 2011 what is the tds rate for salary fy 10-11 and SCEC? what is the impact of non availability of pan under 24Q.

RANGA SRINIVAS

RANGA SRINIVAS (Expert)
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26 April 2011 Dear all

Income tax slab for ay 11-12
New Income Tax Slabs for ay 11-12 for Resident Senior Citizens (FY 2010-11)
S. No. Income Range Tax percentage
1 Up to Rs 2,40,000 No tax / exempt
2 2,40,001 to 5,00,000 10%
3 5,00,001 to 8,00,000 20%
4 Above 8,00,000 30%
Income Tax Slabs for ay 11-12 for Resident Women (below 65 years) (FY 2010-11)
1 Up to Rs 1,90,000 No tax / exempt
2 1,90,001 to 5,00,000 10%
3 5,00,001 to 8,00,00 20%
4 Above 8,00,000 30%
New Income Tax Slabs for ay 11-12 Others & Men (FY 2010-11)
1 Up to Rs 1,60,000 No tax / exempt
2 1,60,001 to 5,00,000 10%
3 5,00,001 to 8,00,000 20%
4 Above 8,00,000 30%

In case PAN is not available, TDS to be deducted at 20%

regards

ranga K S

CA. BIJENDER KR. BANSAL

CA. BIJENDER KR. BANSAL (Expert)
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26 April 2011 Now for FY 2011-12 there is four slab
1. Male Age below 60 years

2. Female Age below 60 years

3. Male or Female age equal to more than 60 year but less than 80 years

4. Male or Female age more than 80 years.

A. Individual, Hindu undivided family, association of persons, body of individuals, artificial
juridical person
Paragraph A of Part-III of First Schedule to the Bill provides following rates of income-tax:-
(i) The rates of income-tax in the case of every individual (other than those mentioned in (ii), (iii) and
(iv) below) or Hindu undivided family or every association of persons or body of individuals,
whether incorporated or not, or every artificial juridical person referred to in sub-clause (vii) of
clause (31) of section 2 of the Income-tax Act (not being a case to which any other Paragraph of Part
III applies) are as under :—
Upto Rs. 1,80,000 Nil. Rs. 1,80,001 to Rs. 5,00,000 10 per cent. Rs. 5,00,001 to Rs. 8,00,000 20 per cent.
Above Rs. 8,00,000 30 per cent.

(ii) In the case of every individual, being a woman resident in India, and below the age of sixty years
at any time during the previous year,—
Upto Rs. 1,90,000 Nil. Rs. 1,90,001 to Rs. 5,00,000 10 per cent.
Rs. 5,00,001 to Rs. 8,00,000 20 per cent.
Above Rs. 8,00,000 30 per cent.

(iii) In the case of every individual, being a resident in India, who is of the age of sixty years or more
but less than eighty years at any time during the previous year,—
Upto Rs. 2,50,000 Nil. Rs. 2,50,001 to Rs. 5,00,000 10 per cent. Rs. 5,00,001 to Rs. 8,00,000 20 per cent.
Above Rs. 8,00,000 30 per cent.

(iv) in the case of every individual, being a resident in India, who is of the age of eighty years or more
at anytime during the previous year, -
Upto Rs. 5,00,000 Nil. Rs. 50,00,001 to Rs. 8,00,000 20 per cent.
Above Rs. 8,00,000 30 per cent.

No surcharge will be levied in the cases of persons covered under paragraph-A of part-III of the First
Schedule.

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