The basic exemption limits and the rates of income-tax will continue to be the same as those specified for assessment year 2010-11. However, the tax slabs are revised as under:—
INCOME TAX SLAB FOR MALE RESIDENT INDIVIDUAL AND HINDU UNDIVIDED FAMILY (HUF) BELOW THE AGE OF 65 YEARS
SLAB INCOME TAX RATE
Upto Rs. 1,60,000 Nil.
Rs. 1,60,001 to Rs. 5,00,000 - 10 per cent.
Rs. 5,00,001 to Rs. 8,00,000 - 20 per cent.
Above Rs. 8,00,000 - 30 per cent.
No Surcharge.However add Education Cess @3% on the tax amount
INCOME TAX SLAB FOR FEMALE RESIDENT INDIVIDUAL BELOW THE AGE OF 65 YEARS
In the case of every individual, being a woman resident in India, and below the age of sixty-five years at any time during the previous year,—
SLAB INCOME TAX RATE
Upto Rs. 1,90,000 Nil.
Rs. 1,90,001 to Rs. 5,00,000 - 10 per cent.
Rs. 5,00,001 to Rs. 8,00,000 - 20 per cent.
Above Rs. 8,00,000 - 30 per cent.
No Surcharge.However add Education Cess @3% on the tax amount
SENIOR CITIZEN
In the case of every individual, being a resident in India, who is of the age of sixty-five years or more at any time during the previous year,—
SLAB INCOME TAX RATE
Upto Rs. 2,40,000 Nil.
Rs. 2,40,001 to Rs. 5,00,000 - 10 per cent.
Rs. 5,00,001 to Rs. 8,00,000 - 20 per cent.
Above Rs. 8,00,000 - 30 per cent.
No Surcharge.However add Education Cess @3% on the tax amount
No comments:
Post a Comment