New tax slab rates for A.Y. 2011-12


NUKUL GARG (Senior Associate Consultant)     09 December 2010

NUKUL GARG
Senior Associate Consultant 
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Rates of taxes to be applicable for the A.Y. 2011-12

 

·        For Individual/HUF/AOP/BOI and every other artificial judicial person-

 

Level Of Income

Rate of Income Tax

Upto 1,60,000

Nil

1,60,001 to 5,00,000

10% of the amount exceeding 1,60,000

5,00,001 to 8,00,000

34,000+ 20% of the amount exceeding 5,00,000

Above 8,00,000

94,000 + 30% of the amount exceeding 8,00,000

 

 

·        For Resident Women below the age of 65 yrs. at any time during the previous year-

 

Level Of Income

Rate of Income Tax

Upto 1,90,000

Nil

1,90,001 to 5,00,000

10% of the amount exceeding 1,90,000

5,00,001 to 8,00,000

31,000+ 20% of the amount exceeding 5,00,000

Above 8,00,000

91,000 + 30% of the amount exceeding 8,00,000

 

 

·        For Resident Individuals of the age of 65 yrs or more at any time during the previous year-

 

Level Of Income

Rate of Income Tax

Upto 2,40,000

Nil

2,40,001 to 5,00,000

10% of the amount exceeding 2,40,000

5,00,001 to 8,00,000

26,000+ 20% of the amount exceeding 5,00,000

Above 8,00,000

86,000 + 30% of the amount exceeding 8,00,000

 

 

·        For Co-operative Societies/Firms/LLP/Local Authority/Company-

  The rates of tax for A.Y. 2011-12 are the same as that for A.Y. 2010-11.

 

 

Surcharge-

 

The rates of surcharge applicable for A.Y. 2011-12 are as follows-

 

·        For Individual/HUF/AOP/BOI and every other artificial judicial person-

No Surcharge would be leviable in case of such persons.

 

·        For Co-operative Societies/Local Authority-

No Surcharge would be leviable in case of Co-operative Societies/Local Authority.

 

·        For Firms/LLP’s-

No Surcharge would be leviable in case of Firms/LLP’s.

 

·        For Domestic Company-

If total income exceeds ` 1 Crore, Surcharge is payable at the rate of 7.5% of income tax computed. Marginal Relief is also available in case of such companies.

 

  • For Foreign Company-

If total income exceeds ` 1 Crore, Surcharge is payable at the rate of 2.5% of income tax computed. Marginal Relief is also available in case of such companies.

 

 

 

Education Cess and Secondary and Higher Education Cess-

 

 

·        Education Cess is calculated at the rate of 2% of such Income tax and surcharge.


·        Secondary and Higher Education Cess is calculated at the rate of 1% of such Income tax and surcharge.


·        These are leviable in case of all assessees.


·        No marginal relief is available in such cases.

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NUKUL GARG (Senior Associate Consultant)     09 December 2010

NUKUL GARG
Senior Associate Consultant 
 181 likes  1231 points

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Or download the attached file-


Attached File : 41 slab rates ay 11 12.pdf downloaded: 214 times
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Divya.M (CA Final Student)     09 December 2010

Divya.M
CA Final Student 
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Hmmmmm Useful News thanks

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Sushmita (CA-Final(Intern))     09 December 2010

Sushmita
CA-Final(Intern) 
 8 likes  262 points

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Excellent work,

Very useful one.

Thanks for sharing such a nice post.
 

Sreeja G Kutty (student)     09 December 2010

Sreeja G Kutty
student 
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Thanks Yar.......


(Guest)

ok

 

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MS SAMEER (CMA*CA*CMDM*ast FUND MANAGER*LEGAL ADVISOR)     09 December 2010

MS SAMEER
CMA*CA*CMDM*ast FUND MANAGER*LEGAL ADVISOR 
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tnq                   


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