New Income Tax Slabs for Assessment Year 11-12 for Resident Senior Citizens (FY 2010-11)

S. No. Income Range Tax percentage
1 Up to Rs 2,40,000 No tax / exempt
2 2,40,001 to 5,00,000 10%
3 5,00,001 to 8,00,000 20%
4 Above 8,00,000 30%

Income Tax Slabs for Assessment Year 11-12 for Resident Women (below 65 years) (FY 2010-11)

S. No. Income Range Tax percentage
1 Up to Rs 1,90,000 No tax / exempt
2 1,90,001 to 5,00,000 10%
3 5,00,001 to 8,00,000 20%
4 Above 8,00,000 30%

New Income Tax Slabs for Assessment Year 11-12 Others & Men (FY 2010-11)

S. No. Income Range Tax percentage
1 Up to Rs 1,60,000 No tax / exempt
2 1,60,001 to 5,00,000 10%
3 5,00,001 to 8,00,000 20%
4 Above 8,00,000 30%

For normal category the simple calculation is as follows

  • Taxable Income in 10% slab maximum tax will be Rs 34000
  • Taxable Income in 20% slab maximum tax will be Rs 34000 + Rs 60000 total Rs 94000
  • Taxable Income in 30% slab minimum tax will be Rs 94000

Education and other cess will be in addition to this.