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Income Tax Rate for Individuals

Income Tax Rates decide the tax to be implemented on your income. In India , there are differents rates of Income Tax for men, women and senior citizens. Here is a detail of Income Tax Rates in India.


Income tax slabs 2010-2011 (for Men) in India:

Income Tax Slab (in Rs.) Tax 0 to 1,60,000 No Tax

1,60,001 to 5,00,000 10%

5,00,001 to 8,00,000 20%

Above 8,00,000 30%


Income tax slabs 2010-2011 (for Women) in India:


Income Tax Slab (in Rs.) Tax0 to 1,90,000No Tax

1,90,001 to 5,00,00010%

5,00,001 to 8,00,00020%

Above 8,00,00030%


Income tax slabs 2010-2011 (for Senior Citizens) in India:


Income Tax Slab (in Rs.) Tax 0 to 2,40,000  No Tax

2,40,001 to 5,00,000  10%

5,00,001 to 8,00,000  20%

Above 8,00,000           30%

*An educational cess of 3% on tax payable.


 

Note: Education cess is applicable @ 3 per cent on income tax.Agricultural income is exempted from income-tax.


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