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May 4, 2022
Income tax Rates Slab for FY 2010-11 or AY 2011-12
Looking for the Income Tax slabs and rates for the financial year 2010-11 or Assessment year 2011-12? This article might help you find out the same.
What is Income tax Slab rates in India?
Indian Income Tax System follows Income Tax slabs for levying the tax on the income of an individual or non-individual. Various slabs are accounted for.
In India, the income tax is charged on the income earned. This tax applies to the range of income, which is called the Slabs for Income Tax which keeps changing from year to year. The Finance Minister announces the slab rates of Income Tax in the Union Budget each year. The Slabs are as follows:
- Income is chargeable to Nil rate of Tax;
- An Income is chargeable to 10%;
- Income is chargeable to 20%; and
- Income is chargeable to 30%.
Surcharge (EC) and secondary and higher secondary education cess (SHEC) are also charged over and above the tax.
The income tax can be mainly bifurcated as under:
By Gender
– Male; and
– Female.
By Age
– Resident; and
– Non-resident in India.
For Hindu Undivided Family (HUF)/ Association Of Person (AOP)/ Body Of Individual (BOI)/ Artificial Judicial Person (AJP)
Below given are the table for different income tax slabs and rates for FY 2010-11 and AY 2011-12.
Income Tax Rates for Individual
Income tax rates/slabs for
- Individual below the age of 65 years
- An HUF
- NRI
- Association of person, Body of Individuals and Artificial Judicial Person:
| No. | Income Slab | Income Tax rate |
| 1. | Upto 160,000 | Nil |
| 2. | 160,000 to 500,000 | 10% of the amount exceeding 160,000 |
| 3. | 500,000 to 800,000 | Rs.34,000 + 20% of the amount exceeding 500,000 |
| 4. | 800,000 & above | Rs.94,000 + 30% of the amount exceeding 800,000 |
Income tax rates/ slabs for women below the age of 65 years:
| No. | Income Slab | Income Tax rate |
| 1. | Upto 190,000 | Nil |
| 2. | 190,000 to 500,000 | 10% of the amount exceeding 190,000 |
| 3. | 500,000 to 800,000 | Rs.31,000 + 20% of the amount exceeding 500,000 |
| 4. | 800,000 & above | Rs.91,000 + 30% of the amount exceeding 800,000 |
Income tax rates/ slabs for Senior citizens of 65 years of age and above:
| No. | Income Slab | Income Tax rate |
| 1. | Upto 240,000 | Nil |
| 2. | 240,000 to 500,000 | 10% of the amount exceeding 240,000 |
| 3. | 500,000 to 800,000 | Rs.26,000 + 20% of the amount exceeding 500,000 |
| 4. | 800,000 & above | Rs.86,000 + 30% of the amount exceeding 800,000 |
Surcharge on Income Tax: Nil
Education Cess: 3% of Income Tax
Hope this article was helpful. Suggested read Income tax rates for the FY year 2011-12 and AS 2012-13.
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