What is the new tax slab for the assessmnet year 2010-11?????
Answer Posted / saurav singh
In case of individual (other than II and III below) and HUF
Income Level Income Tax Rate
i. Where the total income does not exceed Rs.1,60,000/-. NIL
ii. Where the total income exceeds Rs.1,60,000/- but does
not exceed Rs.3,00,000/-. 10% of amount by which the total
income exceeds Rs. 1,60,000/-
iii. Where the total income exceeds Rs.3,00,000/- but does
not exceed Rs.5,00,000/-. Rs. 14,000/- + 20% of the amount
by which the total income exceeds Rs.3,00,000/-.
iv. Where the total income exceeds Rs.5,00,000/-. Rs.
54,000/- + 30% of the amount by which the total income
exceeds Rs.5,00,000/-.
II. In case of individual being a woman resident in India
and below the age of 65 years at any time during the
previous year:-
Income Level Income Tax Rate
i. Where the total income does not exceed Rs.1,90,000/-. NIL
ii. Where total income exceeds Rs.1,90,000/- but does not
exceed Rs.3,00,000/-. 10% of the amount by which the total
income exceeds Rs.1,90,000/-.
iii. Where the total income exceeds Rs.3,00,000/- but does
not exceed Rs.5,00,000/-. Rs. 11,000- + 20% of the amount
by which the total income exceeds Rs.3,00,000/-.
iv. Where the total income exceeds Rs.5,00,000/-
Rs.51,000/- + 30% of the amount by which the total income
exceeds Rs.5,00,000/-.
III. In case of an individual resident who is of the age of
65 years or more at any time during the previous year:-
Income Level Income Tax Rate
i. Where the total income does not exceed Rs.2,40,000/-. NIL
ii. Where the total income exceeds Rs.2,40,000/- but does
not exceed Rs.3,00,000/- 10% of the amount by which the
total income exceeds Rs.2,40,000/-.
iii. Where the total income exceeds Rs.3,00,000/- but does
not exceed Rs.5,00,000/- Rs.6,000/- + 20% of the amount by
which the total income exceeds Rs.3,00,000/-.
iv. Where the total income exceeds Rs.5,00,000/-
Rs.46,000/- + 30% of the amount by which the total income
exceeds Rs.5,00,000/-.
Surcharge: The surcharge on Income Tax for Individuals for
total income exceeding Rs.10 lacs stands removed.
Education Cess: 3% of the Income-tax.
| Is This Answer Correct ? | 4 Yes | 2 No |
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