Income Tax new Slabs FY 2010 – 2011
I know it’s some what late to write a post on new tax slabs of FY 2010 – 2011. But I am giving here the details of the slabs so that it would be easy to refer for the regular readers.
The finance minister’s announcement on new slabs for FY 2010 – 2011 in Feb brought much delight of middle class people. It would save nearly Rs 50,000 to some salaried classes. I will post an example calculation in a new post.
Your income - Tax liability(%)
General:
Rs 0 – 1,60,000 – Nill
Rs. 1,60,001 – Rs. 5,00,000 - 10%
Rs. 5,00,001 – Rs. 8,00,000 - 20%
Above Rs. 8,00,000 – 30%
Women:
Rs 0 – 1,90,000 – Nill
Rs. 1,90,001 – Rs. 5,00,000 - 10%
Rs. 5,00,001 – Rs. 8,00,000 - 20%
Above Rs. 8,00,000 – 30%
Senior citizen (65 years or above):
Rs 0 – 2,40,000 - Nill
Rs. 2,40,001 – Rs. 5,00,000 - 10%
Rs. 5,00,001 – Rs. 8,00,000 - 20%
Above Rs. 8,00,000 - 30%
Rs. 20,000 tax exemption will be provided for investments in long term infrastructure investment bonds. This is in addition to the already allowed exemption of Rs. 1,00,000 under section 80 ( c ).
Tax Exemption will be given for contribution to the Central Government Health Scheme (CGHS).
Please visit the below link for FY 2009 – 2010 tax slabs.
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Sathish Emmadi
Sathish Emmadi is a co-founder & editor at Lastbull.com. He is presently working in IT for one of the world’s top mutual fund companies. Handled multiple projects in BFSI (Banking,Financial Services and Insurance) domain. An Engineering Graduate from NITW.
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{ 5 comments… read them below or add one }
very good.
Dear Sir.
I applied for IDFC Infrastruture bond on 15/10/10 and made paymant of Rs 20,000 by check . At the time of payment bank person told me i will recive the Bonds in Physical form within 15 days but i not received the same till date .Now he is saying i will recive it after 10 Nov due to date extension .i am having receipt of amount paid.Is there any possibility of froud or every thing is all right.
Regards
Ramkishor Jaiswal
Hi RamKishore,
I too applied for IDFC infra bonds and haven’t received them. Yes, the reason is extended last date. The issue closed on 22nd October. we should be receiving them in 2nd week of November. There shouldn’t be any fraud.
Hi Ramkishore,
You will receive the Bonds in physical form for sure unless there is some problem with address given. It might get little delayed due to the extension of the issue.
show me tax lble for matels.