Thursday, March 4, 2010

New Tax Slabs post Budget 2010

Budget 2010 has been out and there has been a change in the Income Tax Rates that one would pay in FY 2010-11. This post has a brief detail about the changes:

Income Tax Slab  for Financial Year 2010-11
Assessment Year 2011-12
Tax Men  Women Senior  Citizen
Rate (In Rupees) (In Rupees) (In Rupees)
0.00% Upto 1,60,000 Upto 1,90,000 Upto 2,40,000
10.00% 1,60,001 to 5,00,000 1,90,001 to 5,00,000 2,40,001 to 5,00,000
20.00% 5,00,001 to 8,00,000 5,00,001 to 8,00,000 5,00,001 to 8,00,000
30.00% Above 8,00,000 Above 8,00,000 Above 8,00,000
1) Surcharge is Nil and 3% Cess will be charged on Above Tax
2) Age of Senior Citizen is 65 Years


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