New Income Tax slab for A.Y.2010-11, F.Y.2009-10



New Income Tax Rates (Revised slab Table after budget-2009)


Income Tax Exemption limit subsequent union budget-2009 for individual tax payers was increased by Rs.10,000 for Male below 65years, women and Rs.15,000 for Senior Citizens(i.e.65 years and above) by the finance minister.
Finance Minister removed the surcharge on Income above Rs.10 Lakh(Rs.1 millon) for Personal Income Tax payers.

The new Income Tax slab for A.Y.2010-11, F.Y.2009-10 will stand as follows.

Taxable Income Senior Citizens Women Others
Up to Rs.1,60,000 Nil Nil Nil
Rs.1,60,001 to Rs.1,90,000 Nil Nil 10% of the amount exceeding Rs.1,60,000
Rs.1,90,001 to Rs.2,40,000 Nil 10% of the amount exceeding Rs.1,90,000 10% of the amount exceeding Rs.1,60,000
Rs.2,40,001 to Rs.3,00,000 10% of the amount exceeding Rs.2,40,000 10% of the amount exceeding Rs.1,90,000 10% of the amount exceeding Rs.1,60,000
Rs.3,00,001 to Rs.5,00,000 Rs.6,000 + 20% of the amount exceeding Rs.3,00,000 Rs.11,000 + 20% of the amount exceeding Rs.3,00,000 Rs.14,000 + 20% of the amount exceeding Rs.3,00,000
Rs.5,00,001 and above Rs.46,000 + 30% of the amount exceeding Rs.5,00,000 Rs.51,000 + 30% of the amount exceeding Rs.5,00,000 Rs.54,000 + 30% of the amount exceeding Rs.5,00,000


Related Posts:
Expecting an increase upto Rs.1.5 lakhs....!

Income Tax for Leave Travel Concession Amount and Encashment Leave Amount

INCOME TAX 2008-09

Comments

Anonymous said…
there seems to be some error in row showing income 3lakhs to 5 lakhs for all the 3 categories

raj
July 8, 2009 at 4:04 PM
Swami said…
The row showing 3 lakhs to 5 lakhs was copied from previous year.

It should be 6000+20%, 11000+20%, 14000+20% respectively.

Similarly in the last row also it should be 46000+30%, 51000+30% and 54000+30% respectively.
July 8, 2009 at 4:54 PM
Nandhi said…
Thank You...
Thank You...
Thank You..!
July 8, 2009 at 5:05 PM
Unknown said…
It is just like a lollipop for central govt. Employee after 6th pay commission.
July 9, 2009 at 5:25 PM
Unknown said…
In 1997 it was decided that transport allowance upto 800/- will be tax free. After 11 years the price index has been increased accordingly now transport allowance should be tax free upto 3200/-

Sunil Choudhary
July 10, 2009 at 10:30 AM
Rahul said…
For FY 2008-09, Central Govt Employees got Transport allowance @ 3200+DA,1600+DA and 600+DA, but for income tax purpose, the maximum amount exempted per month was Rs 800/-. I think this provision has just copied from previous years income tax rules. At least from FY 2009-10, they should make the maximum amount exempted per month as Rs 3200/-
July 13, 2009 at 4:14 PM
Anonymous said…
Giving only Rs 1000 benifit is nothing.Nil tax range must be upto Rs 300000.
August 25, 2009 at 9:28 PM
Anonymous said…
Can anybody tell what is the tax slab for Income above 10lacs
January 23, 2010 at 5:48 PM
jagdish said…
thank you
February 12, 2010 at 12:18 PM
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