New Income Tax Slabs for Assessment Year 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 Assessment Year 11-12 for Resident Women (below 65 years)(FY 2010-11)
| S. No. | Income Range | Tax percentage |
| 1 | Up to Rs 1,90,000 | No tax / exempt |
| 2 | 1,90,001 to 5,00,000 | 10% |
| 3 | 5,00,001 to 8,00,000 | 20% |
| 4 | Above 8,00,000 | 30%
|
New Income Tax Slabs for Assessment Year 11-12 Others & Men (FY 2010-11)
| S. No. | Income Range | Tax percentage |
| 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. |