The Demo Site

Income Tax Rates/Slabs

Rate (%)

Up to 1,60,000
Up to 1,90,000 (for women)
Up to 2,40,000 (for resident individual of 65 years or above)

NIL

1,60,001 – 5,00,000

10

5,00,001 – 8,00,000

20

8,00,001 upwards

30

Few amendments made to the taxation system for the FY 2010-11:

• From now onwards there will be only 2 pages in the IT filing form for individuals.
• More cases can now be appealed against.
• Rs. 20,000 tax exemption will be provided for investments in certain investment bonds. This is in addition to the already allowed exemption (Rs. 1,00,000) in certain savings instruments.
• Tax Exemption will be given for contribution to the Central Government Health Scheme (CGHS).