New Income Tax Slab for Financial Year 2010-11 (A.Y. 2011-12)

The following are the income tax rates announced in union budget 2010 applicable for financial year 2010-11.

Individual Male (Below the Age 65 Years)

Up to 1,60,000 NIL
From 1,60,001 to 5,00,000 10%
From 5,00,001 to 8,00,000 20%
Above Than 8,00,000 30%

Individual Female (Below the Age of 65 Years)

Up to 1,90,000 NIL
From 1,90,001 to 5,00,000 10%
From 5,00,001 to 8,00,000 20%
Above Than 8,00,000 30%

Senior Citizen (Above than 65 years of age)

Up to 2,40,000 NIL
2,40,001 to 5,00,000 10%
5,00,001 to 8,00,000 20%
Above Than 8,00,000 30%