The Demo Site

Income Tax Rates/Slabs

Rate (%)

Upto 1,80,000
Upto 1,90,000 (for women)
Upto 2,50,000 (senior citizens)

NIL

1,80,001 – 5,00,000

10

5,00,001 – 8,00,000

20

8,00,001 and above

30

Tax amendments for the FY 2011-12 are mentioned below :

• Increase in base income tax slab of men and senior citizens.
• Tax exemption limit remains the same i.e Rs. 20,000 on investment in tax saving Infrastructure bonds.
• A set of New Direct Tax Codes have been proposed, which will be active from Financial Year 2011.
• Senior citizen age reduced from 64 years to 60 years.
• People above 80 years of age to be included in the newly introduced 'Very Senior citizen' category.