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

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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


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