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Monday, December 27, 2010

Income Tax Rate for Individuals


Income Tax Rates/Slabs for A.Y. (2011-12)

Slab (Rs.)
Tax (Rs.)
less than
 1,60,000
Nil
1,60,000 to 5,00,000
(TI – 1,60,000) * 10%
5,00,000 to 8,00,000
34,000 + (TI – 5,00,000) * 20%
Greater than 8,00,000
94,000 + (TI – 8,00,000) * 30%
Women aged 65 years or less
Slab (Rs.)
Tax (Rs.)
less than 1,90,000
Nil
1,90,000 to 5,00,000
(TI – 1,90,000) * 10%
5,00,000 to 8,00,000
31,000 + (TI – 5,00,000) * 20%
Greater than 8,00,000
91,000 + (TI – 8,00,000) * 30%
Senior Citizens (Individuals aged above 65 years)
Slab (Rs.)
Tax (Rs.)
less than 2,40,000
Nil
2,40,000 to 5,00,000
(TI – 2,40,000) * 10%
5,00,000 to 8,00,000
26,000 + (TI – 5,00,000) * 20%
Greater than 8,00,000
86,000 + (TI – 8,00,000) * 30%

Income Tax Rates/Slabs for A.Y. (2010-11)

Slab (Rs.)
Tax (Rs.)
less than 1,60,000
Nil
1,60,000 to 3,00,000
(TI – 1,60,000) * 10%
3,00,000 to 5,00,000
14,000 + (TI – 3,00,000) * 20%
Greater than 5,00,000
54,000 + (TI – 5,00,000) * 30%
Women aged 65 years or less
Slab (Rs.)
Tax (Rs.)
less than 1,90,000
Nil
1,90,000 to 3,00,000
(TI – 1,90,000) * 10%
3,00,000 to 5,00,000
11,000 + (TI – 3,00,000) * 20%
Greater than 5,00,000
51,000 + (TI – 5,00,000) * 30%
Senior Citizens (Individuals aged above 65 years)
Slab (Rs.)
Tax (Rs.)
less than 2,40,000
Nil
2,40,000 to 3,00,000
(TI – 2,40,000) * 10%
3,00,000 to 5,00,000
6,000 + (TI – 3,00,000) * 20%
Greater than 5,00,000
46,000 + (TI – 5,00,000) * 30%

Income Tax Rates/Slabs for A.Y. (2009-10)

Slab (Rs.)
Tax (Rs.)
less than 1,50,000
Nil
1,50,000 to 3,00,000
(TI – 1,50,000) * 10%
3,00,000 to 5,00,000
15,000 + (TI – 3,00,000) * 20%
Greater than 5,00,000
55,000 + (TI – 5,00,000) * 30%
Women aged 65 years or less
Slab (Rs.)
Tax (Rs.)
less than 1,80,000
Nil
1,80,000 to 3,00,000
(TI – 1,80,000) * 10%
3,00,000 to 5,00,000
12,000 + (TI – 3,00,000) * 20%
Greater than 5,00,000
52,000 + (TI – 5,00,000) * 30%
Senior Citizens (Individuals aged above 65 years)
Slab (Rs.)
Tax (Rs.)
less than 2,25,000
Nil
2,25,000 to 3,00,000
(TI – 2,25,000) * 10%
3,00,000 to 5,00,000
7,500 + (TI – 3,00,000) * 20%
Greater than 5,00,000
47,500 + (TI – 5,00,000) * 30%

Income Tax Rates/Slabs for A.Y. (2008-09)

Slab (Rs.)
Tax (Rs.)
Surcharge on Income Tax
(if TI > Rs.10 Lakhs)
less than 1,10,000
Nil
Nil
1,10,000 to 1,50,000
(TI – 1,10,000) * 10%
10%
1,50,000 to 2,50,000
4,000 + (TI – 1,50,000) * 20%
10%
Greater than 2,50,000
24,000 + (TI – 2,50,000) * 30%
10%
Women aged 65 years or less
Slab (Rs.)
Tax (Rs.)
Surcharge on Income Tax (if
TI > Rs.10 Lakhs) (Rs.)
less than 1,45,000
Nil
Nil
1,45,000 to 1,50,000
(TI – 1,45,000) * 10%
10%
1,50,000 to 2,50,000
500 + (TI – 1,50,000) * 20%
10%
Greater than 2,50,000
20,500 + (TI – 2,50,000) * 30%
10%
Senior Citizens (Individuals aged above 65 years)
Slab (Rs.)
Tax (Rs.)
Surcharge on Income Tax (if
TI > Rs.10 Lakhs) (Rs.)
less than 1,95,000
Nil
Nil
1,95,000 to 2,50,000
(TI – 1,95,000) * 20%
10%
Greater than 2,50,000
11,000 + (TI – 2,50,000) * 30%
10%
Education Cess has to be added on Income-tax and Surcharge @ 2% from AY 2004-05 and 3% from AY 2007-08

Income Tax Rates/Slabs for A.Y. (2006-07 & 2007-08)

Slab (Rs.)
Tax (Rs.)
Surcharge on Income Tax
(if TI > Rs.10 Lakhs)
less than 1,00,000
Nil
Nil
1,00,000 to 1,50,000
(TI – 1,00,000) * 10%
10%
1,50,000 to 2,50,000
5,000 + (TI – 1,50,000) * 20%
10%
Greater than 2,50,000
25,000 + (TI – 2,50,000) * 30%
10%
Women aged 65 years or less
Slab (Rs.)
Tax (Rs.)
Surcharge on Income Tax (if
TI > Rs.10 Lakhs) (Rs.)
less than 1,35,000
Nil
Nil
1,35,000 to 1,50,000
(TI – 1,35,000) * 10%
10%
1,50,000 to 2,50,000
1,500 + (TI – 1,50,000) * 20%
10%
Greater than 2,50,000
21,500 + (TI – 2,50,000) * 30%
10%
Senior Citizens (Individuals aged above 65 years)
Slab (Rs.)
Tax (Rs.)
Surcharge on Income Tax (if
TI > Rs.10 Lakhs) (Rs.)
less than 1,85,000
Nil
Nil
1,85,000 to 2,50,000
(TI – 1,85,000) * 20%
10%
Greater than 2,50,000
13,000 + (TI – 2,50,000) * 30%
10%

Income Tax Rates/Slabs for A.Y. (2004-05 & 2005-06)

Slab (Rs.)
Tax (Rs.)
Surcharge on Income Tax
(If TI > Rs.8.50 Lakhs) (Rs.)
less than 50,000
Nil
Nil
50,000 to 60,000
(TI – 50,000) * 10%
10%
60,000 to 1,50,000
1,000 + (TI – 60,000) * 20%
10%
Greater than 1,50,000
19,000 + (TI – 1,50,000) * 30%
10%

Income Tax Rates/Slabs for A.Y. (2003-04)

Slab (Rs.)
Tax (Rs.)
Surcharge on Income Tax
(If TI > Rs.60,000) (Rs.)
Less than 50,000
Nil
Nil
50,000 to 60,000
(TI – 50,000) * 10%
5%
60,000 to 1,50,000
1,000 + (TI – 60,000) * 20%
5%
Greater than 1,50,000
19,000 + (TI – 1,50,000) * 30%
5%

Income Tax Rates/Slabs for A.Y. (2002-03)

Slab (Rs.)
Tax (Rs.)
Surcharge on Income Tax
(If TI > Rs.60,000)
Less than 50,000
Nil
Nil
50,000 to 60,000
(TI – 50,000) * 10%
2%
60,000 to 1,50,000
1,000 + (TI – 60,000) * 20%
2%
Greater than 1,50,000
19,000 + (TI – 1,50,000) * 30%
2%

Income Tax Rates/Slabs for A.Y. (2001-02)

Slab (Rs.)
Tax (Rs.)
Surcharge
TI > 60,000
Surcharge
TI > 1,50,000
Less than 50,000
Nil
Nil
Nil
50,000 to 60,000
(TI – 50,000) * 10%
12%
17%
60,000 to 1,50,000
1,000 + (TI – 60,000) * 20%
12%
17%
Greater than 1,50,000
19,000 + (TI – 1,50,000) * 30%
12%
17%

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