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Income Tax

Income Tax Rates for Assessment Year 2010-11

For Individual (age below 60 years), Income Tax is Nil upto a Net Income of Rs. 1,60,000/-

RESIDENT WOMAN

(Who is below 60 years on the last day of the previous year)

Net Income Range Income Tax Rates
Up to Rs. 1,90,000/- Nil
Rs. 1,90,000/- to Rs. 3,00,000/- 10% of (total income minus Rs. 1,90,000/-)
Rs. 3,00,000/- to Rs. 5,00,000/- Rs. 11,000/- + 20% of (total income minus Rs. 3,00,000/-)
Above Rs. 5,00,000/- Rs. 51,000/- + 30% of (total income minus Rs. 5,00,000/-)

RESIDENT SENIOR CITIZEN

(Who is 60 years or more at any time during the previous year.)

Net Income Range Income Tax Rates
Up to Rs. 2,40,000/- Nil
Rs. 2,40,000/- to Rs. 3,00,000/- 10% of (total income minus Rs. 2,40,000/-)
Rs. 3,00,000/- to Rs. 5,00,000/- Rs. 6,000/- + 20% of (total income minus Rs. 3,00,000/-)
Above Rs. 5,00,000/- Rs. 46,000/- + 30% of (total income minus Rs. 5,00,000/-)

ANY OTHER INDIVIDUAL/ HUF/ AOP/ BOI/ ARTIFICIAL JURIDICIAL PERSON

Net Income Range Income Tax Rates
Up to Rs. 1,60,000/- Nil
Rs. 1,60,000/- to Rs. 3,00,000/- 10% of (total income minus Rs. 1,60,000/-)
Rs. 3,00,000/- to Rs. 5,00,000/- Rs. 14,000/- + 20% of (total income minus Rs. 3,00,000/-)
Above Rs. 5,00,000/- Rs. 54,000/- + 30% of (total income minus Rs. 5,00,000/-)

PLUS EDUCATION CESS @ 3% OF INCOME TAX.