Income tax rates for the assessment year 2011-2012 (The financial year 2010-2011)

IncomeSlabsTax Rates
Individual & HUF below age of 65 yearsWomen below age of 65 yearsIndividual above age of 65 years 
Income upto Rs.1,60,000Income upto Rs.1,90,000Income upto Rs.2,40,000Nil
Rs.1,60,001- Rs. 5,00,000Rs.1,90,001-Rs.5,00,000Rs.2,40,001-Rs.5,00,00010%
Rs. 5,00,001- Rs.8,00,000Rs. 5,00,001- Rs.8,00,000Rs. 5,00,001- Rs.8,00,00020%
Above Rs.8,00,001Above Rs.8,00,001Above Rs.8,00,00130%

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.

Also Read  How to Calculate Income Tax Online?

  1. i’m student of M.com I want to know the taxable income of LIC agent’s commission pls send me all the detail of agent’s commission as soon as possible.

  2. what are the new commission rate of lic agents?

  3. Mahendra Singh chouhan July 9, 2011 at 4:50 pm

    I had invested Rs 40,000/ in Market Plus way back in april-2010(One time investment).
    Please tell me what is the NAV and current market value of the fund?

    Please send the same at my aforementioned e-mail adress.

    My contact no is –9724082029

  4. Sir/Madam,
    I am a Physically Handicapped Person and get additional benefit of Rs.50,000.00 towards exemption in IT. I am hearing that this benefit has been enhanced to Rs.1,00,000.00 during the General Budget that was placed before the Indian Parliament by the Hon. Finance Minister on February 28, 2011. I am not aware whether the quantum has been increased to Rs.75,000.00 or Rs. 1 Lakh.

    Therefore, Will anyone confirm the above and let me know the position please?

    With Regards

  5. Education cess means

  6. Sir
    Whether there is surcharge for over 10,00,000 income? .Kindly clarify.

  7. my age is 48yrs what will be the best term plan for my future.
    for around one crore at the age of 62 yrs.
    i can invest monthly around how much?
    reply urgently
    thanks

    kashyap.

  8. Age of my son is 06 years 11 months. Please suggest a policy to meet the requirement of education for him.

  9. Rajender Kumar Bansal December 8, 2010 at 8:43 pm

    The 10% rate slab for I/Tax for Women below age of 65 years, should be 1,90,001 to 5,00,000/- instead of 2,40,001 to 5,00,000/- as mentioned in your details.

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