20 March 2010
The applicable assessment year is A. Y. 2010 - 11.
SO the slab rates applicable for that year is relevant for you.
Income Tax Rates for A. Y. 2010 - 11
Type of Assessee Range of Income Tax Liability Personal Taxation Residential Women below 65yrs Upto Rs. 190000 NIL of age Rs. 190001-Rs. 300000 (Taxable Income-Rs.190000)*10.30% Rs. 300001-Rs.500000 (Taxable Income-Rs.300000)*20.60%+Rs.11330 Rs.500001 and above (Taxable Income-Rs.500000)*30.90%+Rs.52530 Residential individuals 65yrs and Upto Rs. 240000 NIL above Rs. 240001-Rs300000 (Taxable Income - Rs.240000)*10.30% Rs 300001-Rs.500000 (Taxable Income - Rs.300000)*20.60%+Rs.6180 Rs.500001 and above (Taxable Income - Rs.500000)*30.90%+Rs.47380 Other individuals, Upto Rs. 160000 NIL hindu undivided family, Rs. 160001-300000 (Taxable Income - Rs.160000)*10.30% association of persons and Rs.300001-500000 (Taxable Income - Rs.300000)*20.60%+Rs.14420 body of individuals Rs.500001 and above (Taxable Income - Rs.500000)*30.90%+Rs.55620 Firm Taxation All firms Rs. 5 and above 30.90% on taxable income Corporate Taxation Domestic company Rs. 5 - Rs. 10000000 30.90% on taxable income Above 10000000 33.99% on taxable income Foreign Company Rs. 5 - Rs. 10000000 41.20% on taxable income Above 10000000 42.23% on taxable income Minimun Alternate Tax Domestic company Rs. 5 - Rs. 10000000 15.45% on book profit Above 10000000 16.995% on book profit Foreign Company Rs. 5 - Rs. 10000000 15.45% on book profit Above 10000000 15.83625% on book profit Note: The above rates are inclusive of surcharge,education cess and higher education cess wherever applicable.
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