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
S.NO. INCOME TAX SLAB
INCOME TAX CALCULATORS
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

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