Assessment year and it rate

nishant (IPCC) (51 Points)

17 March 2011

i am nishant ipcc student and i am confused that which assessment year and tax rate is applicable for may 2011 ipcc exam.

in that my manner the ay is 211-12 but my friends confused me so please give me solution

thanks.

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2 Replies

Athmaram (Articled Assistant) (170 Points)
Replied 17 March 2011

For May 2011 IPCC exam AY 2011-12 is applicable

Regards

Ram.

Jay Bodha (Employed) (139 Points)
Replied 17 March 2011

AY 2011-12 is applicable

the slab applicable shaal be:

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%