|Individual & HUF below age of 65 years||Women below age of 65 years||Individual above age of 65 years|
|Income upto Rs.1,60,000||Income upto Rs.1,90,000||Income upto Rs.2,40,000||Nil|
|Rs.1,60,001- Rs. 5,00,000||Rs.1,90,001-Rs.5,00,000||Rs.2,40,001-Rs.5,00,000||10%|
|Rs. 5,00,001- Rs.8,00,000||Rs. 5,00,001- Rs.8,00,000||Rs. 5,00,001- Rs.8,00,000||20%|
|Above Rs.8,00,001||Above Rs.8,00,001||Above Rs.8,00,001||30%|
Income tax rates for assessment year 2011-2012 (Financial year 2010-2011)
Education Cess: An additional surcharge called “Education cess” at the rate of 2% on the amount of income tax and surcharge (if any) in all cases shall be levied.
Secondary and higher: An additional surcharge, called the “Secondary and Higher education cess on income tax at the rate of 1% of income tax and surcharge ( Not including the education cess on income tax) in all cases shall be levied.