Below, people can find detail of Income Tax slabs for financial year 2010-2011. People will need these tax slabs for filling their income tax next year. From next year, people can enjoy revised and bigger tax slab of 1.6 lacs to 5 lacs with 10% income tax deduction and 5 lacs to 8 lacs tax slab with 20% tax deduction. Now people earning up to 8 lacs will come under tax 20% tax bracket.Also visit
How to file e-return (Income tax return online) India? (Updated)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 Slabs 2010/2011 for 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 slabs 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 %
|
Financial Minister has provided additional investment of Rs 20,000 for infrastructure bonds under 80 C; thus total limit under 80 C has increased from Rs 1 lac to Rs 1.2 Lacs for 2010-2011 financial year.
