New Income tax slab proposed in budget 2010-11 and its impact on Male individual, Female Individual, HUF and senior citizen

The Finance Minister, in the Budget today, changed the tax slabs for men, women and senior citizens. The highest tax slab has now been raised from Rs 5 lakh to Rs 8 lakh.

The FM has also increased the limit of deduction available under section 80C. He has allowed an additional investment of Rs 20,000 for infrastructure bonds taking the total of the limit under section 80C from the current Rs 1 lakh to Rs 1.2 lakh.

Download Income Tax Calculator For A.Y. 2011-12 / Financial Year 2010-11


Male individual below the age of 65 years& HUF tax payers :

New tax slabs:

Slabs (Rs) Rate
0 – 160000 0
160001 – 500000 10
500001 – 800000 20
800001 and above 30

Old tax slabs:

Slabs (Rs) Rate
0 – 160000 0
160001 – 300000 10
300001 – 500000 20
500001 and above 30


Impact:

Taxable income (Rs) Tax -before budget Tax after budget Saving
(Rs) (Rs) (Rs)
200000 4120 4120 0
500000 55620 35019 20601
1000000 210120 158619 51501
1200000 271919 220419 51500
1500000 364619 313119 51500
2000000 519119 467619 51500
2500000 673619 622119 51500
4000000 1137119 1085619 51500

Female individual taxpayer

New tax slabs:

Slabs (Rs) Rate
0 – 190000 0
190001 – 500000 10
500001 – 800000 20
800001 and above 30

Old tax slabs:

Slabs (Rs) Rate
0 – 190000 0
190001 – 300000 10
300001 – 500000 20
500001 and above 30

Impact:

Taxable income (Rs) Tax -before budget Tax after budget Saving
(Rs) (Rs) (Rs)
200000 1029 1029 0
500000 52529 31929 20600
1000000 207029 155529 51500
1200000 268829 217329 51500
1500000 361529 310029 51500
2000000 516029 464529 51500
2500000 670529 619029 51500
4000000 1134029 1082529 51500

Senior Citizens

New tax slabs:

Slabs (Rs) Rate
0 – 240000 0
240001 – 500000 10
500001 – 800000 20
800001 and above 30

Old tax slabs:

Slabs (Rs) Rate
0 – 240000 0
240001 – 300000 10
300001 – 500000 20
500001 and above 30

Impact:

Taxable income (Rs) Tax before budget Tax after budget Saving
(Rs) (Rs) (Rs)
200000 0 0 0
500000 47379 26780 20599
1000000 201879 150379 51500
1200000 263679 212179 51500
1500000 356379 304879 51500
2000000 510879 459379 51500
2500000 665379 613879 51500
4000000 1128879 1077379 51500
 ALSO READ
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1. Income Tax Slabs for FY 2016-17 / AY 2017-18
2. Income Tax Slab for FY 2015-16 AY 2016-17
3. Income Tax Slab for FY 2014-15 AY 2015-16
4.
5.  Income tax Slab for FY 2012-13 / AY 2013-14 Income Tax Calculator FY 2012-13 / AY 2013-14
6. Income tax calculator for FY 2006-07 to FY 2016-17
7. Income Tax Slab Rates from AY 1992-93 to AY 2015-16

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0 responses to “Income tax slab for FY 2010-11 / A.Y. 2011-12”

  1. AVIRVAW KUMAR RANJAN says:

    pls send me, all amendments in tax , law , accounts, audits

  2. NANDEESH MN says:

    WHAT IS THE NEW TAX STRUCTURE FOR THE HOTEL INDUSTRY

  3. rashid ali says:

    new update of tax

  4. ningappa says:

    please receive the this year budget

  5. arun says:

    it is now 1.20 lacs

  6. Ranjodh Singh Rana says:

    Dear Sir,
    Exemption limit for men is Rs. 1,80,000 and not 1,60,000 as specified by u.
    Ranjodh Singh Rana…Naya Nangal

  7. Anil says:

    Dear Sir,

    Please I want a what is the slap of Income Tax for the
    fy-2010-11,& 2011-12,

  8. aarti thakkar says:

    is there any change in sec 80 for deduction

  9. Preeth says:

    Not bad but want to the limit of exemption in U\S 80c and U\S 80gg and U\S80d

  10. priyanka chauhan says:

    I want to know About The Difrrent tax slabs Like on TDS service tax etc can you help me

  11. jason says:

    whether the total limit for investment is limited to only 1 lac?

  12. nithya says:

    what is the new slap of leave tax

  13. niraj says:

    what is the limit for exemption in hra as i pay to houseowner as erent\

  14. Sundara pandian says:

    what is limit of expmet in U\S 80c and U\S 80gg and U\S80d

  15. p k jaiswal says:

    i am not a tax payer yet, but what is the use of paying income tax if the so called corrupted leaders keep it in their pockets that is our “GARHEE KAMAAI” instead of being used for development purposes of our loving country INDIA.

  16. p k jaiswal says:

    what are the key features of income tax for yr 2010-11?

  17. Mahendra Janwani says:

    Maximum permission saving under section 80 C

    it should be 150000 instead of 120000

  18. Jaiprakash says:

    Kindly let me know that what is the slab of medical benefits in 2010-2011 Income Tax Rule.

  19. sameer talgaonkar says:

    My Annual salary CTC is 180000 ( 15000 p.m ) & net is coming on hand 13720.00 p.m

    pls let me know about my T.D. S. calculation , because my company has been deducted total 700/- for annual deduction (from feb 2011 @ 200/- monthly deduction)

  20. Vishal says:

    I have a net take away at 7,34,000 p.a. (non-inclusive of PF/Gratuity/LTA etc). I am currently investing Rs.14192 towards Insurance Policies (80C), Home Loan (1,50,000 approx towards Interest Component and 50,000 towards principal component), 72,000 anually towards different Tax Saving SIP. I am still paying tax of approx 36000 (TDS) annually. I wanted to know if I stop the SIP investment, by how much will my TDS increase??

  21. Rustam says:

    plz send me detail how i can find new income tax for 2011
    also detail of tax on varies donation as soon as posible

  22. Rajiv Ranjan says:

    What is standard deduction & how much minimum saving required this year

  23. snarasimhan says:

    My monthly GROSS SALARY IS
    SALARY:rs.56068
    H.R.A:RS.55000
    SUPPLEMENTARY ALLOWANCE:1334
    Iam in rented flat ans\d have produced rental receipt every month for rs 30000/= .I have saved upto rs 1 Lakh under 80c .Calculate my tax

  24. naresh says:

    hi..sir i want to know . haw to file return income tax

  25. Jitender says:

    Dear sir,

    I want to concirm that when we deposit in first time and didn’t make tax after can we get profit and it helps to take home loan and education loan

  26. Jogendra Patel says:

    The couple who are employed both are getting much benifit. They should fill their I.T.return showing their income together. By not raising the threshold limit of Rs1.60 lakh FM has proved that he cares only for rich people. He has given tremendous benefit to people whose taxable income is more than Rs3lakh and the couple who are both employed.

  27. KML.Moorthy says:

    I need a Tax Sections all, CUURENT Slab detail and DEDUCTIONS list from Income Tax

  28. janardhanan says:

    i will be getting pay commission arrears from jan 2007 to aug 2008 during the financial year 2010 – 2011. my taxable income is 3.50 lakhs after deductions (and including my pension during the fin year 2010 – 2011). As per latest Govt anouncement tax payable @ 10%. But treasury people say i should carry the incone to respective years and pay 20% tax above 3.00 lakh.
    My point is i need not carry the arrear to previous years and pay only 10% tax
    Can any one clarify with income tax rules

  29. RavindranK says:

    My Gross salary is 638131, my GPF is 120000. what is my IT for the year 2010-11

  30. Sirisha Karthikeyan says:

    How much tax i need to pay this year.. plzz let me know how to calculate & how much should i pay.. help me out

  31. Sirisha Karthikeyan says:

    I have a question,
    my salary is 645000/– gross income without deduction of anything (i.e. pf & gartituty)
    & my investment in insurance is 74000/–

    so now how is i have to pay tax..

  32. Bhaskar says:

    what will be the tax slab rate for the assesment year 2012-13……………?

  33. ashish dixit says:

    such a stupid proposed slab. It will increase tax evasion. Basic exemption limit should be increase for not less than to 250000.

  34. ashish kumar shrivastav says:

    Tax exempt investment means those investment in which government is not going to charge any tax. Likewise, investment in society welfare, or health sector etc.

  35. Dhirendra Kumar says:

    what is the exemption limits u/s 80ccc to 80U for the A.Y. 2011-2012

  36. a dilaver hussain says:

    i want to know the fixed deposit investments are shown in assesment

  37. shyamal Chakraborty says:

    I want to know what are the tax examption investmant? Kindly send me details.

  38. manish intwala says:

    This slab is not ok because you will not raise the minimum value that is 1,60,000.If you will increase this value so tax payer is also be increase

  39. BIMAN BEHARI GHOSH says:

    MY DATE OF BIRTH IS 10/01/1946
    AGE 65 WILL COMPLETE ON 09/01/2011
    WHETHER I SHALL GET THE BENEFIT OF SENIOR CITIZEN DURING THE FINANCIAL YEAR 2010-2011 (ASSESSMENT YEAR 2011-2012.

  40. GOPINATH KHADANGA says:

    60 years of age is considered as requisite age to get benifits for Sr.citizens except for income tax purpose.Reasons behind this logic is known & not justifiable.

    Govt.may consider 60 years of age as Sr.citizen for income tax purpose.

  41. PREM RAJ TYAGI says:

    Refer to earlier post by Venkat on “anamoly between income-tax and TDS”. I am a lady aged 63 years. I have an annual income of Rs. 4 Lacs, almostl all from Bank deposits. Considering the current income tax slabs of “1.9 lacs- No Tax and Up to 5 Lacs 10% tax”, my tax commitment for AY11-12, works out to only about Rs. 21,000. As banks are deducting 10% TDS on all interest income over Rs. 10,000, I end up paying Rs 40,000 as tax through TDS. Why dont the govt reduce the TDS rate to 5% from Rs 10,000 to Rs 20,000, and 10% later on. Can I give From-15G to avoid avoid such excessive TDS? Can some body help me on this?

    Read more: https://www.taxguru.in/budget-2010/new-income-tax-slab-proposed-in-budget-2010-11-and-its-impact-on-male-individual-female-individual-huf-and-senior-citizen.html#ixzz0wplqiyCO

  42. SHAHNAVAZ says:

    please sene me a information of basic tax limit for individul, firm, professional Income, pvt.ltd. Company.

    who is involved professional income, like doctor, advocate & how many limited in audit

  43. Anubhav Verma says:

    IT-SOUNDS BIG.. SPECIALLY WHEN IT COMES TO APPLICABILITY…THE INCOME OF GOVT. FROM THE INCOME OF COMMON MAN. THIS IS TRUE BUT STILL BE BEARED BY THE COMMON PERSON AT A LARGE SCALE… THIS IS LIABILITY AGAINST SAVINGS FOR EVERY COMMOM MAN…

    THE IT CAL. SLABS AND RATES VARYING YEAR BY YEAR SHOWS HOW AGRESSIVELY THE MIDDLE MAN IS STANDING STILL FACING MULTIPLICILTY OF HARDNESS TO EARN LIVELYHOOD AND TO SAVE IF POSSIBLE..THE TAX LIABILITY SHOULD BE REDUCED FOR MIDDLE CLASS MAN AND ESTABLISHMENTS OF NEW CONCEPT OF EFFECTIVE TAX SYSTEMS SHOULD BE INTRODUCED…..

  44. vinod says:

    it seems absurd that
    1. on FDs bank gives higher rate of interest to those sbove 60 years of age, considering them senior citizen
    2. Railway gives concession to those above 60 years of age, considering them senior citizen
    3. Income tax department says senior citizen is the one above 65 years of age
    4. Govt. retires people at the age of 60 years
    All these are part of the same Government, having different definitions of senior citizen, cant we have one simple
    definition clarifying as one for all, hope those in seat of power pay a glance at it

  45. mahesh says:

    My bank FD shows Interst paid Rs 7873 and interest accrued as Rs 1183. Which figure should i furnish in my income tax returnfor2010-2011

  46. mahesh says:

    My bank fd shows Rs 7873 as interest earned, and Rs 1183 as inters accrued.Which figure shd i take for income tax return2010-11

  47. Chandan says:

    FM could have done better than this. since the inflation rate Vs yearly salry/income growth is not that as inflation. For exmplae :- vegetables / grocessry items have inflation almost 55 – 60%.

    Need to do a lot for common people in India

  48. Gowri Nagarajan says:

    Refer to earlier post by Venkat on “anamoly between income-tax and TDS”. I am a lady aged 63 years. I have an annual income of Rs. 4 Lacs, almostl all from Bank deposits. Considering the current income tax slabs of “1.9 lacs- No Tax and Up to 5 Lacs 10% tax”, my tax commitment for AY11-12, works out to only about Rs. 21,000. As banks are deducting 10% TDS on all interest income over Rs. 10,000, I end up paying Rs 40,000 as tax through TDS. Why dont the govt reduce the TDS rate to 5% from Rs 10,000 to Rs 20,000, and 10% later on. Can I give From-15G to avoid avoid such excessive TDS? Can some body help me on this?

  49. Income Tax Return says:

    this budget is not in the favour of middle class and lower class people

  50. M. V. Sekharan says:

    For income tax purposes a senior citizen should be one who has retired from service at the prescribed retirement age

  51. M. V. Sekharan says:

    For income tax purposes a senior citizen should be one who has retired from service at the prescribed retirement age

    M V Sekharan

  52. bksahu says:

    age of senior citizen

  53. gurpreet singh says:

    I just want to know how we calculate
    income tax.
    please reply

  54. Kallol says:

    The Gratuity slab is increased to 10 Lakhs from 3.5 lakhs.
    Is it mandatory for private companies (listed in BSE)?
    Or it is the ceiling and not mandatory and cos can still pay 3.5 which I understand is the lower slab?

  55. Sushil says:

    Nothing was done for lower & middle income class group. only rich people like celebraties will benefit whose interviews appeared in the newspapers with thumbs-up for budget…. Why media do not post interviews of poor people??

  56. VP Venkatraman says:

    Since there is no Social Security provided by the Govt. I feel more should have been done for Senior Citizens particularly women. Many Seniors live on Interest earned from Fixed Deposits. So the the threshold limit on the Interest Income should be increased substantially. At the time of taking Fixed Deposits the Banks/ Companies can take a declaration of the total estimated Income of the person and not deduct any TDS if the total income is below the the Taxable Limit. The Finance Minister should consider this and do something.

  57. Ajit Kr singh from Ranchi says:

    Minimum tax freelimit should have been Rs. 2 lakh. after that Limit of deduction should have been raised to “actual” saving under section C group like PF, PPF,LIC,VPF etc.
    Minister has raised prices of petrol/diesel etc but tax concession on conveyance allwance is still Rs. 800 per month. Is this justified. Secondly concession of Rs. 100/- on education allownace, Rs. 300/- on Hostel allowance etc . is very nominal. Finance minister should have raised all these limits considering inflation.

  58. J P jaiswal says:

    By not raising the threshold limit of Rs1.60 lakh FM has proved that he cares only for rich people. He has given tremendous benefit to people whose taxable income is more than Rs3lakh. Will he rectify it?

  59. kavitha says:

    There is very less done for a middle class salaried male/female. With the recession still not recovered completely the jolt of taxes are still a burden for less salaried employees. Mr. Pranab has not given a thought to middle class individuals which will end up paying the tds more than the previous year. Hiking the petrol/diesel prices automatically effects on commodities too since everything is interdependent on transport

  60. venkat says:

    ANOMALY BETWEEN THE INCOME TAX AND TDS

    Under the new income tab slabs there is going to be problem in TDS deductions

    Suppose a person’s salary is 35000/= per month. Annual salary is 4,20,000. Due to FDs in the banks the interest amount is 35,000. Total income is 4,55,000.. His income tax to be paid will be 29,500. With educational cess the total tax to be paid is 30,385.

    Now TDS deductions will be :

    By employer on the salary of 4,20,000 will be 42,000(at 10% TDS rates)

    By banks on the Fds etc will be 3,500.

    The total deduction comes to 45,500 which is much more than the actual income tax to be paid.. If he saves on 80C investments and with medical insurance and charity and other deductions the difference will be much more. For women employees and senior citizens it will be disaster.If his/her total income is more than 1.6 lakhs or whatever minimum slab is, he/she cannot give 15 H or any other certificate to the employers or the banks not to deduct TDS

    The finance ministry has therefore to drastically reduce the TDS rates. The TDS must not be deducted from senior citizens either on their pensions or bank deposits.

    You as an orsganisation should take it up with Ministry of Finance.

  61. Jogindar Sud says:

    Relief in personal income tax was not expected.
    Finance minister has done a wonderful job in bringing down the rates upto 5 lakhs of taxable income to 10 percent and starting the 30 percent slab from 8 lakhs instead 5 lakhs earlier.
    As a senior citizen, I will have more money in my hands to cater for my increasing health bill and escalating cost of living.

  62. R.LGARG says:

    for aenior citizens different scheme based on age beyond 70 or so need special consideration nd relaxations in investments or period of three years u/s 80 c be reduced to 18 months so that he can get it converted into liquid funds in his life time

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