TaxInfo (Applicable from April,2011 to March,2012)
1. Increase in base income tax slab of men and senior citizens.
2. Tax exemption limit remains the same i.e Rs. 20,000 on investment in tax saving Infrastructure bonds.
3. Senior citizen age reduced from 64 years to 60 years.
4. People above 80 years of age to be included in the newly introduced 'Very Senior citizen' category.
New tax slabs applicable from Apr,2011 to Mar,2012
| For the amount | Tax Rate Including Surcharge& Education cess |
|---|---|
| For Men, upto 1,80,000 rupees For Women, upto 1,90,000 For Senior Citizens 60 to 80 Yrs age, upto 2,50,000 For Very Senior Citizens above 80 Yrs age, upto 5 Lakhs |
No Tax |
| For Men, 1,80,001 to 5 Lakhs For women, from 1,90,001 to 5 Lakhs For senior citizens 60 to 80 Yrs age, from 2,50,001 to 5 Lakhs |
10.30% |
| For anyone, 5,00,001 to 8 Lakhs | 20.60% |
| For anyone, 8,00,001 and Above | 30.90% |
Tax slabs applicable from Apr,2010 to Mar,2011
| For the amount | Tax Rate Including Surcharge& Education cess |
|---|---|
| Upto 1,60,000 rupees (For women this free limit is upto 1,90,000) (For senior citizens(>=65 Yrs age) this free limit is upto 2,40,000) |
No Tax |
| 1,60,001 to 5,00,000 (For women this limit is from 1,90,001 to 5Lakhs) (For senior citizens(>=65 Yrs age) this limit is from 2,40,001 to 5Lakhs) |
10.30% |
| 5,00,001 to 8,00,000 | 20.60% |
| 8,00,001 and Above | 30.90% |
Tax slabs applicable from Apr,2009 to Mar,2010
| For the amount | Tax Rate Including Surcharge& Education cess |
|---|---|
| Upto 1,60,000 rupees(For women this free limit is upto 1,90,000) (For senior citizens(>=65 Yrs age) this free limit is upto 2,40,000) |
No Tax |
| 1,60,001 to 3,00,000 (For women this limit is from 1,90,001 to 3Lakhs) (For senior citizens(>=65 Yrs age) this limit is from 2,40,001 to 3Lakhs) |
10.30% |
| 3,00,001 to 5,00,000 | 20.60% |
| 5,00,001 and Above | 30.90% |
Tax slabs applicable from Apr,2008 to Mar,2009
| For the amount | Tax Rate |
|---|---|
| Upto 1,50,000 rupees(For women this free limit upto 1,80,000 and For senior citizens(>=65 Yrs age) this limit is from 2,25,000) | No Tax |
| 1,50,001 to 3,00,000 (for women its from 1,80,001 to 3,00,000 and For senior citizens(>=65 Yrs age) this limit is from 2,25,001 to 3Lakhs) | 10% |
| 3,00,001 to 5,00,000 | 20% |
| 5 Lakhs to 10 Lakhs | 30% |
| 10 Lakhs and Above | 33% |
Tax slabs applicable from Apr,2007 to Mar,2008
| For the amount | Tax Rate |
|---|---|
| Upto 1,10,000 rupees(For women this free limit upto 1,45,000) | No Tax |
| 1,10,001 to 1,50,000 (for ladies its from 1,45,001 to 1,50,000) | 10% |
| 1,50,001 to 2,50,000 | 20% |
| 2,50,001 and Above | 30% |