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    Income Tax Slabs FY 2010 – 2011

    Posted In India - By NitiN Kumar Jain On Friday, January 7th, 2011 With 8 Comments

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    If you too are looking for tax calculations on your total income and the income tax slabs for the ongoing Financial Year i.e. FY 2010 – 2011 (which is similar to saying Assessment Year 2011 – 2012 or AY 2011 – 2012) then here are they for the quick bookmark.

    Education and other Cess are in addition to the below percentage.

    Income Tax Slab for AY 11-12 (FY 10-11)
    A) Following are valid for Resident Senior Citizens
    S. No.Income RangeTax percentage
    1Up to Rs 2,40,000No tax / exempt
    22,40,001 to 5,00,00010%
    35,00,001 to 8,00,00020%
    4Above 8,00,00030%
    B) These are for Resident Women (below 65 years)
    1Up to Rs 1,90,000No tax / exempt
    21,90,001 to 5,00,00010%
    35,00,001 to 8,00,0020%
    4Above 8,00,00030%
    C) Following are true for Others & Men
    1Up to Rs 1,60,000No tax / exempt
    21,60,001 to 5,00,00010%
    35,00,001 to 8,00,00020%
    4Above 8,00,00030%

    But how to actually calculate income tax??

    For normal category (C above) the simple calculation is as follows:

    • Total Taxable Income in 10% slab maximum tax will be Rs  34000 or 10% of income above Rs 1,60,000 but less than Rs 5,00,000.
    • Total Taxable Income in 20% slab maximum tax will be Rs  34000 + Rs 60000 = Rs 94000 or Rs 34000 + 20% of income above Rs 5,00,000 but less than Rs 8,00,000.
    • Total Taxable Income in 30% slab minimum tax will be Rs  94000 + 30% of the income above Rs 8 Lacs

    For a quick calculator you can refer to following simple calculators:

    If you are looking for detailed computation you can refer to following link:

    Some more information about ways of saving tax will follow.

    NitiN Kumar Jain

    Nitin works in an IT MNC professionally but blogs and owns NKJ Live. He is also the co-owner of a professional start-up ARGHAM BYTES

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    • http://twitter.com/dnclips dnClips

      The latest income tax slabs can be found here – This is for 2011-2012 http://financeminister.in/income_tax_calculator.php

      • http://nitinkumarjain.in NitiN Kumar Jain

        Thanks …

    • Sukhbirschauhan

      What is the age to be called as senior citizen and when the same should be attended for filinig income tax return for the assesment year 2011-12

      • http://nitinkumarjain.in NitiN Kumar Jain

        At the beginning of FY …

    • Krishnap Ksastry

      my income for the year 2010-11 is 204,407.00 pl advice me on how to file the returns…. i fall in the 10% category. regards kp

    • http://nitinkumarjain.in NitiN Kumar Jain

      You don’t need to file your returns at all if your employed somewhere and get Form16 from your employer as IT has waived off filing returns for service class below 5lacs of income who get Form 16

    • http://www.daytodayinfo.com swathireddy

      hi sir.           
            You provide helpful information on Finance can you tell me what will be the maximum slab tax for a taxable income is 10%.

      • http://nitinkumarjain.in NitiN Kumar Jain

        Sorry, what exactly do you wish to know??