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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

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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Tags: Government Of IndiaIncome taxIncome tax Department

6 years ago

Dharti Popat

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