Income tax slab for FY 2010-11 / A.Y. 2011-12

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

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