Here is the latest income tax slab rates for Year 2011-2012. This tax table based on the latest income tax slab is a ready reference for calculating your income tax for year 2011-12.
· Base slab for general tax payers increased to 1.8 lakh from original 1.6 lakh
· Senior citizen age reduced to 60 years from last years 65 years.
· Senior citizen now include people between 60 and 80 years , Also increased the base slab for senior citizen to 2.5 lakh from previous years 2.4 lakh
· A new category called "Very Senior citizen" added for people above 80 years.
Income tax slabs 2011-2012 for General tax payers
Income tax slab (in Rs.) | Tax |
0 to 1,80,000 | No tax |
1,80,001 to 5,00,000 | 10% |
5,00,001 to 8,00,000 | 20% |
Above 8,00,000 | 30% |
Income tax slabs 2011-2012 for Women
Income tax slab (in Rs.) | Tax |
0 to 1,90,000 | No tax |
1,90,001 to 5,00,000 | 10% |
5,00,001 to 8,00,000 | 20% |
Above 8,00,000 | 30% |
Income tax slabs 2011-2012 for Senior citizen (Aged 60 years but less than 80 years)
Income tax slab (in Rs.) | Tax |
0 to 2,50,000 | No tax |
2,50,001 to 5,00,000 | 10% |
5,00,001 to 8,00,000 | 20% |
Above 8,00,000 | 30% |
Income tax slabs 2011-2012 for Very Senior citizen (Above 80 years)
Income tax slab (in Rs.) | Tax |
0 to 5,00,000 | 0% |
5,00,001 to 8,00,000 | 20% |
Above 8,00,000 | 30% |
