EXPECTED INCOME TAX RATES FOR FINANCE BILL 2010

EXPECTED INCOME TAX RATES FOR THE FINANCE BILL 2010

For Resident Women (who is below 65 years at time during the previous year)

Net Range Income

Income tax rates

Surcharge

Education Cess (2%+H&S Cess 1%)

Upto Rs.2,50,000

  Nil

Nil

Nil

Rs.2,50,001 - Rs. 3,00,000

 '10%

Nil

3% of Income Tax

Rs.3,00,001 - Rs. 5,00,000

 '20%

Nil

3% of Income Tax

Rs.5,00,001 - Rs. 10.00,000

 '30%

Nil

3% of Income Tax

Above Rs. 10,00,000

 '30%

Nil

3% of Income Tax & Surcharge

For Resident Senior Citizen  (who is 65 years or more at any time during the previous year)

Net Range Income

Income tax rates

Surcharge

Education Cess (2%+H&S Cess 1%)

Upto Rs.3,00,000

  Nil

Nil

Nil

Rs.3,00,001 - Rs. 5,00,000

 '20%

Nil

3% of Income Tax

Rs.5,00,001 - Rs. 10,00,000

 '30%

Nil

3% of Income Tax

Above Rs. 10,00,000

 '30%

Nil

3% of Income Tax & Surcharge

For any other Individual, every HUF/AOP/BOI/artificial judicial person

Net Range Income

Income tax rates

Surcharge

Education Cess (2%+H&S Cess 1%)

Upto Rs.2,00,000

  Nil

Nil

Nil

Rs.2,00,001 - Rs. 300,000

 '10%

Nil

3% of Income Tax

Rs.3,00,001 - Rs. 5,00,000

 '20%

Nil

3% of Income Tax

Rs.5,00,001 - Rs. 10.00,000

 '30%

Nil

3% of Income Tax

Above Rs. 10,00,000

 '30%

Nil

3% of Income Tax & Surcharge