Income Tax Slabs 2010/2011 - Tax rates 10-11

Income Tax Rates 2010-2011

Below you will find Indian Income Tax slabs decleared in Budget 2010, for the financial year 2010-2011. These ITslabs have been increased slightly (i.e. the tax rate has been reduced) as compared to the IT slabs for 10-11. Below you will find a detailed table of Income Tax slabs for men, women, and senior citizen. These tax rates are applicable for the financial year 2010-2011, i.e. effective from 1st April 2010 to 31st March 2011.
You may also like to use the quick-easy-to-use this Income Tax Calculator on the website of IT department or download this Tax Calculator (Excel Spreadsheet) for calculating your tax for A.Y. 2010/2011.

Income Tax rates or Tax Slabs 10-11 : Table

Income Tax Slabs 2010/2011 for Men

Income: upto 1.6 lacs	no income tax
Income : 1.6 lacs to 5 lacs	10 %
Income : 5 lacs to 8 lacs	20 %
Income : above 8 lacs	30 %

Income Tax Rates 2010/2011 or Women

Income : upto 1.9 lacs	NO TAX
Income : 1.9 lacs to 5 lacs	10 %
Income : 5 lacs to 8 lacs	20 %
Income : above 8 lacs	30 %

Income Tax rates 2010/2011 for Senior Citizen

Income : upto 2.4 lacs	NO TAX
Income : 2.4 lacs to 5 lacs	10 %
Income : 5 lacs to 8 lacs	20 %
Income : above 8 lacs	30 %

Education cess and surcharge on total income tax

In addition to the income tax calculated according to the above income tax slabs, a 3% of Education cess will be charged on the total Income tax paid (not on the total taxable income). If the taxable income exceeds Rs. 10 lacs, a 10% surcharge on the total income tax (not on the total taxable income) is also charged.
Related: Indian Income Tax Act - Tax Deductions, Tax Exemptions, Section 80C,80D,80DD,80E, etc.

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