New Income Tax Rate slabs for Individual, HUF, Women, Senior Citizen for A.Y. 2010-11 & F.Y. 2009-2010
Basic exemption for individual tax payers was increased by Rs 10,000 for general tax payers and women and Rs 15,000 for senior citizens (i.e. 65 years and above) by the finance minister on Monday.
The current income tax exemption limit is Rs 1.5 lakh (Rs 150,000) for men, Rs 1.8 lakh (Rs 180,000) for women and Rs 2.25 lakh (Rs 225,000) for senior citizens.
Surcharge and Education Cess—
Levy of surcharge has been withdrawn for personal income tax payers . Earlier surcharge was levied at 10% having total income exceeding Rs. 10,00,000/- on such cases.
“Education Cess on Income-tax” and “Secondary and Higher Education Cess on income-tax” shall continue to be levied at the rate of two per cent and one per cent respectively of income-tax.
Income tax slab tables for your quick reference
India Income tax slabs 2009-2010 for Men
| Income tax slab (in Rs.) | Tax |
|---|---|
| 0 to 1,60,000 | No tax |
| 1,60,001 to 3,00,000 | 10% |
| 3,00,001 to 5,00,000 | 20% |
| Above 5,00,000 | 30% |
India Income tax slabs 2009-2010 for women
| Income tax slab(in Rs.) | Tax |
|---|---|
| 0 to 1,90,000 | No tax |
| 1,90,001 to 3,00,000 | 10% |
| 3,00,001 to 5,00,000 | 20% |
| Above 5,00,000 | 30% |
India Income tax slabs 2009-2010 for Senior citizen
| Income tax slab(in Rs.) | Tax |
|---|---|
| 0 to 2,40,000 | No tax |
| 2,40,001 to 3,00,000 | 10% |
| 3,00,001 to 5,00,000 | 20% |
| Above 5,00,000 | 30% |
The rates for persons not resident in India, including companies other than domestic companies,are the same. Basically, for corporate there are no tax rate changes and hence is at statuesque.
Is the incme tax exemption limit of
Rs.2.4 lakh for seniorcitizens
applicable for both men & women?
I need clarication apart from salary income ,i have income from share trading my turn over more than 2.5crores. is it my I.Tax comes under tax audit or not for A.Y.2010.11
Dear Sir,
I need a clarification on filing my IT returns. I have worked in 2 companies in 2009-2010, so i have 2 form 16 dated 1.4.2009-20.05.2009 i quit the job & for joined a new company Form 16 dated 1.6.2009-31.3.2010. In the first company i have to get a refund of 373 as per the Form16 & in the second company i have already paid tax of 10998. Could you please assist me in clarifiny my doubt whether i have to get refund or i have to pay tax.
Regards,
Shabbir
Mr. K. hari chandana Meher,
U/s 80 C, u can avail a benefit upto Rs. 100000.
dear sir,
please answer my question
I need maximum limit for LIC
This Tax Guru is very helpful to all.you are doing a good job.
what is the maximum exemption limit for gratuity, is it not 3,50,000 please tell me and reply me on my mail id –
dear sir,
please guide me.I left the company in january 2010.I found on net company has not filled my IT return of 2008-2009 and 2009-2010.and now company is not giving me 16 no. form.comapany did not pay my last one year salary also.but i have all salary slip and company deducted the tax in every salary.company deposited my PF till date.so company will not give me 16 no. form.
Can i fill IT return after gap of two year ?
i want current IT return for some purchasing purpose.
can i fill the it return without adding my salary income?
please guide me
sir, I will earning Rs 35000/ per month effective July 31st. I will not have PF and other contributions. Personally i have deposited such an amount in Post office which gives me rs 2700/qrtly interest.I am aged 61 and what would be my must and least tax deduction upto Match 31st 2011.
Kindly reply
thanks for updation
Please advice my Gross salary Rs.7.50Lacs. Please let me know the Investment part, where i will save my Income Tax. I have read carefully your site and found very nice.
Please reply my querry urgently to save my fund and invest in new scheme & housing loan. Regards.
Dear Sir,
I have gone through your website and like it very much. I was finding it difficult to get a new copy of ITR 4. Thanks for upgrading and uploading the same on website. Thanks and best wishes to taxguru.
Dear Sir,
This is a good helping website
and also very usefull for all
Thanks to tax guru
Please reply me the following question.
1.Write me the slab rate of income tax of Indian origin person who has acquired USA citizenship and remain Non-resident.Now his income is investment in india.
2.Write me the slab rate income tax for USA citizen(origin of India)and now resident in India for uncertain period ,if his income of investment in India and other income.
3.Can Citizen of USA get benefit slab rate of income tax which is given to Indian citizen.
Hi , the note above the slabs say that the current tax exemtion limit is 1,80,000 for women.. and the slabs inform that its till 1,90,000. Can you please clear it out. Thanks
thnx…..info’ z reli helpful……..:)
DAER SIR
ALL TAXES SLAB.
REGARDS & THANKS
JAGDISH
We – My wife- House wife nd me have House at ahmedabad.
I have taken loan on the house and also claim Intrest benefit.
I have moved to chennai and have rented acoomodation and claim House rent exemtion coupled with Housing loan intrest benefit.
I ma geting prposal for renting my house at Ahmedabad.
Please suggest will there be tax liability if the house is rented by my wife, and be filed with IT as her Return, or the income will necessarily be accounting in my as MY business income only..
Can a HUF claim a tax rebate for the payment of school fees upto Rs 1 lac for the children of the Karta
Sir,
I’m rahul. i have completed b.com in 2005. so there is gap of 5 years in my career. my age=29yrs.
i do many jobs b/w this gap.in call centre and bpo and other computer jobs.
now , iam very hopeless from my life.
because i am feeling that i am unable to get a good job. and i am the only earning person in my family.
So, plz can u give me a job of rs.10000.
i have good computer knowledge and average a/c knowlege.
plz help me someone.
thanks
rahul
rahulthebodycare@rediffmail.com
May I know what is the Limit for the year2010-11 for Men and Women. Be soecify,
What is the income tax slab for disabled senior citizen.
Please advise current benefits under 80U
I retired from Bank in May 2009, will I get enhanced gratutity?
Thanks for updation
my daughter is in usa since july2008.there are some investment like bank fd, shares, ppf in her name. TDS also deducted from bank fdr interest. there is also some income from share trading upto march31st 2010.Please tell me what is her status for filing IT RETURN?
WHAT IS THE LIMIT? WEATHER I HAVE TO CLOSE HER SAVINGS A/C AND OPEN NEW NRO A/C OR DEMAT A/C.i HAVE GOT POWER OF ATTORNEY. MY ADDRESS PARESH.PANDYA@GMAIL.COM
thanks
Resp.sir/Madam.
How much time it will get to answer our questions & where we can get our answers
sheetal
Resp Sir/ Madam,
We have an education institute. We have Deposited TDS amount for last quarter in Bank on 31st March 2010.
While depositing these amount we have made payment through separate challans, for our Internal purpose.
We are having PAN Nos of most of the deductees. But some deductees(Teachers) are not having PAN card & we have
paid their TDS through separate challan (94J).
1. I want to know last date for filing the TDS return for March.10.
2. Is it possible that we will file return immediately for those , which PAN no we are having & Can we file separate TDS Return whose PAN no is not available(They have applied for PAN card & will get it within 15 days)
Thanks,
Sheetal
Hi,
I’m Salaried, I have taken Mortgage loan, where the Owner of the property is my mother, The loan was taken in Joint like primary applicant is My mother and Co-applicant is I, Is there any possibility to get the Interest waiver from TAX
i have to take mortgage loan against property.will get any benefit in income. can i claim against buisness income as expense
Where i can get the income tax slab rate from 1961 to tii.
WHAT IS THE INCOME TAX SLAB FOR INDIVIDUAL HUF ABOVE 65 YEARS
hello sir/madam,
this information of urs has helped me a lot nd also has heped me for my studies ………and do update me with the relevant facts and figures …..i would be very obliged………
I was retired from National Highways Authority of India on 31stJanuary, 2008 as General Manager(Tech). As per revised circular of Central Goverment regarding ‘Gratuity'(enhanced to Rs. 10 lacs), whthere I am also be paid the areares of grauity enhanced amount. (B. R. Salwan)
The tables are great and looks very familiar.
GOI pensioner of 61 yrs moots senior citizen relef of rs 10% of basic pension as DR alone is highly insufficient due augmenting debility and lonesome life of utter moroseness and mental fatigue.Medical facilities currently available are damn useless with arrogant doctors and supply of poor standard drugs.
But you should always mention the age for Senior Citizenship. Why the Govt. taking into consideratin the age of senior citizen’s age in different segments means consider sometimes 60 years and for some segments its 65 years so Govt. must take it & should mark be declared the age of senior citizen in clear terms either 60 or 65 for all segments.
how to calculate HRA relief for 2009-10 for salaried people
Dear Sir,
Please letm\ me know the least amount where t.d.s is not applicable.like contract, sub contract. and so.
Please let me know the slab
Dipesh
vipul sethi :
You will be taxed on the amount you “recieve” in a financial year and nnot what you have been “Promised”
Hello
I would like to know how HUF funds can be used.HUF has both fixed and liquid assets. For what purpose can the liquid assets be used by the members of the HUF.
Hello .
I have CTC of 3,50,000 but out of which , 48,000 is for Performance pay which we dont get with our salary .Its an amount to paid with Dec salary,which is usuallf half of what has been promised by my company.
I want to know , that shall I have to give 19,000 as Tax , because out of this slab its coming out to be 28,000 (excluding performance pay).
Please through some light on it
Dear Sir, If a person is having a shop & he wants to file his IT Return & his net income for the year is only 47000 , than is their any tax liabilities to pay & what about Profession Tax
hai would like tro know about income tax deduction for salaried persons under 80c
iwould like to income tax exemption under sec80c
1. What all the eligible elements can be deducted from the gross to arrive at Net Salary?
2. Whether the members of HUF contributing to HUF account qualifies for tax exemption?
3. Whether Investment on trading and reaping the returns, already suffered TDS,will attract another while arriving at the net taxable income?
thanks for your support to us.