TAX SAVINGS UNDER NEW TAX SLAB 2010-11

Indraneel Sen Gupta , Last updated: 26 February 2010
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Tax Impact for Resident Individuals and Hindu Undivided Families
Gross Total Income (Rs)	3,00,000		5,00,000
	A.Y. 2010-11	A.Y. 2011-12	A.Y. 2010-11	A.Y. 2011-12
Gross Income	300000	300000	500000	500000
Tax Benefit u/s 80C	100000	100000	100000	100000
Tx exemption under Infra Bonds		20000		20000
Net Taxable Income post sec. 80C	200000	180000	400000	380000
Income Exempt from Tax as per slabs	160000	160000	160000	160000
Taxable Amount	40000	20000	240000	220000
Amount taxable @ 10%	40000	20000	140000	220000
Amount taxable @ 20%	0	0	100000	0
Amount taxable @ 30%	0	0	0	0
Tax Amount Pre-Cess	4000	2000	34000	22000
Education cess @3%	120	60	1020	660
Total Tax Payable	4120	2060	35020	22660
Tax Impact for Resident Individuals and Hindu Undivided Families
Gross Total Income (Rs)	8,00,000		10,00,000
	A.Y. 2010-11	A.Y. 2011-12	A.Y. 2010-11	A.Y. 2011-12
Gross Income	800000	800000	1000000	1000000
Tax Benefit u/s 80C	100000	100000	100000	100000
Tx exemption under Infra Bonds		20000		20000
Net Taxable Income post sec. 80C	700000	680000	900000	880000
Income Exempt from Tax as per slabs	160000	160000	160000	160000
Taxable Amount	540000	520000	740000	720000
Amount taxable @ 10%	140000	340000	140000	340000
Amount taxable @ 20%	200000	180000	200000	300000
Amount taxable @ 30%	200000	0	400000	80000
Tax Amount Pre-Cess	114000	70000	174000	118000
Education cess @3%	3420	2100	5220	3540
Total Tax Payable	117420	72100	179220	1215


Tax Impact for Resident Woman below 65 years of age
Gross Total Income (Rs)	3,00,000		5,00,000
	A.Y. 2010-11	A.Y. 2011-12	A.Y. 2010-11	A.Y. 2011-12
Gross Income	300000	300000	500000	500000

Tax Impact for Resident Senior Citizens
Gross Total Income (Rs)	3,00,000		5,00,000		8,00,000		10,00,000		15,00,000
	A.Y. 2010-11	A.Y. 2011-12	A.Y. 2010-11	A.Y. 2011-12	A.Y. 2010-11	A.Y. 2011-12	A.Y. 2010-11	A.Y. 2011-12	A.Y. 2010-11	A.Y. 2011-12
Gross Income	300000	300000	500000	500000	800000	800000	1000000	1000000	1500000	1500000
Tax Benefit u/s 80C	100000	100000	100000	100000	100000	100000	100000	100000	100000	100000
Tx exemption under Infra Bonds		20000		20000		20000		20000		20000
Net Taxable Income post sec. 80C	200000	180000	400000	380000	700000	680000	900000	880000	1400000	1380000
Income Exempt from Tax as per slabs	240000	240000	240000	240000	240000	240000	240000	240000	240000	240000
Taxable Amount	0	0	160000	140000	460000	440000	660000	640000	1160000	1140000
Amount taxable @ 10%	0	0	60000	140000	60000	260000	60000	260000	60000	260000
Amount taxable @ 20%	0	0	100000	0	200000	180000	200000	300000	200000	300000
Amount taxable @ 30%	0	0	0	0	200000	0	400000	80000	900000	580000
Tax Amount Pre-Cess	0	0	26000	14000	106000	62000	166000	110000	316000	260000
Education cess @3%	0	0	780	420	3180	1860	4980	3300	9480	7800
Total Tax Payable	0	0	26780	14420	109180	63860	170980	113300	325480	267800

Tax Impact for Resident Woman below 65 years of age
Gross Total Income (Rs)	3,00,000		5,00,000		8,00,000		10,00,000		15,00,000
	A.Y. 2010-11	A.Y. 2011-12	A.Y. 2010-11	A.Y. 2011-12	A.Y. 2010-11	A.Y. 2011-12	A.Y. 2010-11	A.Y. 2011-12	A.Y. 2010-11	A.Y. 2011-12
Gross Income	300000	300000	500000	500000	800000	800000	1000000	1000000	1500000	1500000
Tax Benefit u/s 80C	100000	100000	100000	100000	100000	100000	100000	100000	100000	100000
Tx exemption under Infra Bonds		20000		20000		20000		20000		20000
Net Taxable Income post sec. 80C	200000	180000	400000	380000	700000	680000	900000	880000	1400000	1380000
Income Exempt from Tax as per slabs	190000	190000	190000	190000	190000	190000	190000	190000	190000	190000
Taxable Amount	10000	0	210000	190000	510000	490000	710000	690000	1210000	1190000
Amount taxable @ 10%	10000	0	110000	190000	110000	310000	110000	310000	110000	310000
Amount taxable @ 20%	0	0	100000	0	200000	180000	200000	300000	200000	300000
Amount taxable @ 30%	0	0	0	0	200000	0	400000	80000	900000	580000
Tax Amount Pre-Cess	1000	0	31000	19000	111000	67000	171000	115000	321000	265000
Education cess @3%	30	0	930	570	3330	2010	5130	3450	9630	7950
Total Tax Payable	1030	0	31930	19570	114330	69010	176130	118450	330630	272950