Income Tax Doubts - India
Some FAQs corresponding to Indian Income Tax Practices and Rules can be found here.
Monday, April 5, 2010
Income Tax Slab Rates - April 2009 to March 2010
Income Tax Rates/Slab for Assesment Year 2010-11 (F Y 2009-10) | Rate (%) |
Up to 1,60,000 Up to 1,90,000 (for women) Up to 2,40,000 (for resident individual of 65 years or above) | NIL |
1,60,001 – 3,00,000 | 10 |
3,00,001 – 5,00,000 | 20 |
5,00,001 upwards | 30* |
*A surcharge of 10 per cent of the total tax liability is applicable where the total income exceeds Rs 1,000,000. |
- Education cess is applicable @ 3 per cent on income tax, inclusive of surcharge if there is any.
- A marginal relief may be provided to ensure that the additional IT payable, including surcharge, on excess of income over Rs 1,000,000 is limited to an amount by which the income is more than this mentioned amount.
- Agricultural income is exempt from income-tax.
Subscribe to:
Posts (Atom)