| Income | – | Slabs | Tax Rates |
| 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.
This post was last modified on March 22, 2021
As one of India's most trusted insurance providers, LIC has been a household name for…
Retirement planning is an important part of life, and the government of India has introduced…
The year 2024 was monumental for India's stock market, with several Initial Public Offerings (IPOs)…
Are you a future and options trader looking to make the most of your investments?…
Becoming an LIC agent offers a promising career path with India's largest life insurance provider,…
LIC (Life Insurance Corporation of India) policies provide a dual advantage—financial security and significant tax…
Leave a Comment