Tuesday, March 1, 2011

changes in Income Tax rates after Budget 2010-11


in the case of every individual or Hindu undivided family or every association of persons or body of individuals, whether incorporated or not, or every artificial juridical person referred to in sub-clause (vii) of clause (31) of section 2 of the Income-tax Act

Upto Rs. 1,80,000                                         Nil.
 Rs. 1,80,001 to Rs. 5,00,000                        10 per cent.
 Rs. 5,00,001 to Rs. 8,00,000                        20 per cent.
Above Rs. 8,00,000                                      30 per cent.

individual, being a woman resident in India, and below the age of sixty years

Upto Rs. 1,90,000                                         Nil.
 Rs. 1,90,001 to Rs. 5,00,000                        10 per cent.
 Rs. 5,00,001 to Rs. 8,00,000                         20 per cent.
Above Rs. 8,00,000                                      30 per cent


Senior citizen individual above 60 years of age but below than 80 years

Upto Rs. 2,50,000                                         Nil.
 Rs. 2,50,001 to Rs. 5,00,000                        10 per cent.
 Rs. 5,00,001 to Rs. 8,00,000                         20 per cent.
Above Rs. 8,00,000                                      30 per cent.

Senior citizen individual above  80 years of age

Upto Rs. 5,00,000                                         Nil.
 Rs. 50,00,001 to Rs. 8,00,000                      20 per cent.
Above Rs. 8,00,000                                      30 per cent.

 

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