The new and revised income tax slabs and rates applicable for the financial year (FY) 2010-11 and assessment year (AY) 2011-12 are mentioned below:
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%
For normal category the simple calculation is as follows
• Taxable Income in 10% slab maximum tax will be Rs 34000
• Taxable Income in 20% slab maximum tax will be Rs 34000 + Rs 60000 total Rs 94000
• Taxable Income in 30% slab minimum tax will be Rs 94000
Education and other cess will be in addition to this
Income Tax Slabs for ay 10-11 are mentioned below
Income tax slab for ay 10-11
Income Tax Slabs for ay 10-11 for Resident Senior Citizens (FY 2009-10)
S. No. Income Range Tax percentage
1 Up to Rs 2,40,000 No tax / exempt
2 2,40,001 to 3,00,000 10%
3 3,00,001 to 5,00,000 20%
4 Above 5,00,000 30%
Income Tax Slabs for ay 10-11 for Resident Women (below 65 years) (FY 2009-10)
1 Up to Rs 1,90,000 No tax / exempt
2 1,90,001 to 3,00,000 10%
3 3,00,001 to 5,00,00 20%
4 Above 5,00,000 30%
Income Tax Slabs for ay 10-11 Others & Men (FY 2009-10)
1 Up to Rs 1,60,000 No tax / exempt
2 1,60,001 to 3,00,000 10%
3 3,00,001 to 5,00,000 20%
4 Above 5,00,000 30%