Income Tax Rates decide the tax to be implemented on your income. In India, there are differents rates of Income Tax for men, women and senior citizens. Here is a detail of Income Tax Rates in India.
Income tax slabs 2009-2010 (for Men) in India:
| Income Tax Slab (in Rs.) |
Tax |
| 0 to 1,60,000 |
No Tax |
| 1,60,001 to 3,00,000 |
10% |
| 3,00,001 to 5,00,000 |
20% |
| Above 5,00,000 |
30% |
Income tax slabs 2009-2010 (for Women) in India:
| Income Tax Slab (in Rs.) |
Tax |
| 0 to 1,90,000 |
No Tax |
| 1,90,001 to 3,00,000 |
10% |
| 3,00,001 to 5,00,000 |
20% |
| Above 5,00,000 |
30% |
Income tax slabs 2009-2010 (for Senior Citizens) in India:
| Income Tax Slab (in Rs.) |
Tax |
| 0 to 2,40,000 |
No Tax |
| 2,40,001 to 3,00,000 |
10% |
| 3,00,001 to 5,00,000 |
20% |
| Above 5,00,000 |
30% |
*A surcharge of 10 per cent of the total tax liability is applicable where the total income exceeds Rs 1,000,000. 3% cess on tax payable.
Note:
- Education cess is applicable @ 3 per cent on income tax.
- Agricultural income is exempted from income-tax.
To calculate your Income Tax go to
Income Tax Calculator
Modifications By Union Budget 2010
According to Union Budget 2010-11, a few changes have been made in Income Tax structure. Here is a glimpse to new Income Tax Rates :
New Slab
| Income Tax Slab (in Rs.) |
Tax |
| 0 to 1,60,000(M) / 1,90,00(W) / 2,40,000(S) |
No Tax |
| 1,60,001 to 5,00,000 |
10% |
| 5,00,001 to 8,00,000 |
20% |
| Above 8,00,000 |
30% |
The above modifications will be applicable for the year 2010-11.(March 2010 Onwards)
