Income Tax Exemption limit subsequent union budget-2009 for
individual tax payers was increased by Rs.10,000 for Male below 65years,
women and Rs.15,000 for Senior Citizens (i.e.65 years and above) by the
finance minister.
Finance Minister removed the surcharge on Income above Rs.10 Lakh (Rs.1
million) for Personal Income Tax payers.
The new Income Tax slab for A.Y.2010-11, F.Y.2009-10 will stand as follows.
|
|
|
|
|
|
Up to Rs.1,60,000 |
Nil |
Nil |
Nil |
|
Rs.1,60,001 to |
Nil |
Nil |
10% of the amount |
|
Rs.1,90,001 to |
Nil |
10% of the amount |
10% of the amount |
|
Rs.2,40,001 to |
10% of the amount |
10% of the amount |
10% of the amount |
|
Rs.3,00,001 to |
Rs.6,000 + 20% of the |
Rs.11,000 + 20% of the |
Rs.14,000 + 20% of the |
|
Rs.5,00,001 and above |
Rs.46,000 + 30% of the |
Rs.51,000 + 30% of the |
Rs.54,000 + 30% of the |
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