WHAT IS THE SLAB RATE FOR A.Y 2011-12?
REPLY
5 Replies
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 26 August 2011
varahi
(STUDENT)
(2373 Points)
Replied 26 August 2011
Union Budget 2010: New Income Tax Rates for A.Y. 2011-12
The new income tax rates orIncome tax slab applicable for F.Y. 2010-11, A.Y. 2011-12 as announced in Budget 2010 . This is very good news for taxpayer to raise the limit of 10% bracket upto 5 Lakh. Most of the people are confused about income tax ratesbecause a lots of amendments have done like direct tax code (DTC Income Tax Rates). So first find for which year you want to file a return then see the income tax rates/ income tax slab for that year. Suppose now you are going to file income tax returns for F.Y. 2009-10 i.e from 1-4-2009 to 31-03-2010. So you see the income tax slab for Assessment year 2010-11. For more detail read the guide about assessment year and previous year.
Income Tax Slab for A.Y. 2009-10
Income Tax Slab for A.Y. 2010-11
The following are the income tax rates announced in union budget 2010 applicable for financial year 2010-11.
|
Individual Male (Below the Age 65 Years) |
|
|
Up to 1,60,000 |
NIL |
|
From 1,60,001 to 5,00,000 |
10% |
|
From 5,00,001 to 8,00,000 |
20% |
|
Above Than 8,00,000 |
30% |
|
Individual Female (Below the Age of 65 Years) |
|
|
Up to 1,90,000 |
NIL |
|
From 1,90,001 to 5,00,000 |
10% |
|
From 5,00,001 to 8,00,000 |
20% |
|
Above Than 8,00,000 |
30% |
|
Senior Citizen (Above than 65 years of age) |
|
|
Up to 2,40,000 |
NIL |
|
2,40,001 to 5,00,000 |
10% |
|
5,00,001 to 8,00,000 |
20% |
|
Above Than 8,00,000 |
30% |
Manika Venkata Siva Prasad
(IPCC-student)
(84 Points)
Replied 26 August 2011
|
Individual Male (Below the Age 65 Years) |
|
|
|
|
|
|
Up to 1,60,000 |
|
|
|
NIL |
|
From 1,60,001 to 5,00,000 |
10% |
|
From 5,00,001 to 8,00,000 |
20% |
|
Above Than 8,00,000 |
30% |
|
Individual Female (Below the Age of 65 Years) |
|
|
Up to 1,90,000 |
NIL |
|
From 1,90,001 to 5,00,000 |
10% |
|
From 5,00,001 to 8,00,000 |
20% |
|
Above Than 8,00,000 |
30% |
|
Senior Citizen (Above than 65 years of age) |
|
|
Up to 2,40,000 |
NIL |
|
2,40,001 to 5,00,000 |
10% |
|
5,00,001 to 8,00,000 |
20% |
|
Above Than 8,00,000 |
30% |
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