With the beginning of the new financial year 2010-11, the tax slabs have been raised for both male and female as below.
Taxable Income
FY 2009-10
FY 2010-11
From To Tax Rate (%) From To Tax Rate (%) Male
0 160,000 0 0 160,000 0 160,001 300,000 10 160,001 500,000 10 300,001 500,000 20 500,001 800,000 20 500,001 onwards 30 800,001 onwards 30 Female
0 190,000 0 0 190,000 0 190,001 300,000 10 190,001 500,000 10 300,001 500,000 20 500,001 800,000 20 500,000 onwards 30 800,001 onwards 30 Senior Citizen
0 240,000 0 0 240,000 0 240,001 300,000 10 240,001 500,000 10 300,001 500,000 20 500,001 800,000 20 500,000 onwards 30 800,001 onwards 30
Note: Education cess @ 3% and 10% surcharge on the income above Rs10 lakh
Below's the savings between FY10 and FY11 tax slabs
Male Female Taxable Income (Rs) Pre-Budget (Rs) Post-Budget (Rs) Savings (Rs) Pre-Budget (Rs) Post-Budget (Rs) Savings (Rs) 2,00,000 4,120 4,120 0 1,030 1,030 0 3,00,000 14,420 14,420 0 14,420 14,420 0 5,00,000 55,620 35020 20,600 52,530 31,930 20,600 8,00,000 1,48,320 96,820 51,500 1,45,229 93,730 51,500 9,00,000 1,79,219 1,27,719 51,500 1,76,129 1,24,629 51,500 11,00,000 2,65,121 2,08,471 56,650 2,61,722 2,05,072 56,650 12,00,000 2,99,111 2,42,461 56,650 2,95,712 2,39,062 56,650 15,00,000 4,01,081 3,44,431 56,650 3,97,682 3,41,032 56,650 20,00,000 5,71,031 5,14,381 56,650 5,67,632 5,10,982 56,650
Register To Reply