Feb 27, 2010

Income Tax Rates / Slabs: FY 2010-11

Union Budget 2010 has reduced the tax liability of individual income tax payers by broadening the tax slabs.

The basic exemption limit remains same. Income tax rates also remain unchanged but the tax slabs have been widened. Finally, the education cess of 3% is retained.

The new / revised tax slabs / rates applicable to individual tax payers for the financial year (FY) 2010-11 and
assessment year (AY) 2011-12 are as follows:

Latest / Revised Income Tax Slabs / Rates for FY 2010-11

New IT Slabs/ Rates for Resident Senior Citizens (FY 2010-11):

Up to Rs 2,40,000-----------------> No tax / exempt
2,40,001 to 5,00,000-------------> 10%
5,00,001 to 8,00,000-------------> 20%
Above 8,00,000-------------------> 30%

New IT Slabs / Rates for Resident Women (below the age of 65 years) (FY 2010-11):

Up to Rs 1,90,000-----------------> No tax / exempt
1,90,001 to 5,00,000-------------> 10%
5,00,001 to 8,00,00--------------> 20%
Above 8,00,000------------------> 30%

New IT Slabs / Rates for Other Individuals (FY 2010-11):

Up to Rs 1,60,000 ------------------> No tax / exempt
1,60,001 to 5,00,000---------------> 10%
5,00,001 to 8,00,000--------------> 20%
Above 8,00,000--------------------> 30%

Also see:

1. Tax Rates / Slabs FY 2009-10

2. DTC Tax Rates / Slabs


  1. The exemption limit for individuals is 1.6 L and not 1.9 L

  2. Sorry, for the typo - now fixed.

    Thank you Anonymous for informing me about the error.

  3. Could you please help us showing some examples on how the tax implication would like for different tax slabs?

  4. Hi,
    With the inclusing of another 20K in 80C for investment in Infra bonds, what are bonds that can be invested in as per your suggestion.


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