New income tax table with revised slabs

Feb 28, 2011 |

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Following is the table of new income tax slabs proposed by Finance Minister Pranab Mukherjee in Budget 2011-12

INCOME TAX RATE

1. General Tax Payers

Up to Rs 1,80,000NIL Rs 1,80,001 to Rs 5,00,00010 per cent Rs 5,00,001 to Rs 8,00,00020 per cent Rs 8,00,000 and above30 per cent 2

2. For Women

Up to Rs 1,90,000NIL Rs 1,90,001 to Rs 5,00,00010 per cent Rs 5,00,001 to Rs 8,00,00020 per cent Rs 8,00,000 and above 30 per cent

3. For Senior Citizens of 60 years but less than 80 years

Up to Rs 2,50,000NIL Rs 2,50,001 to Rs 5,00,00010 per cent Rs 5,00,001 to Rs 8,00,00020 per cent Rs 8,00,000 and above 30 per cent

4. Very Senior Citizens of 80 Years and Above

Up to Rs 5,00,000NIL Rs 5,00,001 to Rs 8,00,00020 per cent Rs 8,00,000 and above 30 per cent

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