what is BEL for 2011-12?
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Tax
Replies (4)
1) Slab rates for Individuals and HUF is
0 to 1,80,000 0%
1,80,001 to 5,00,000 10%
5,00,001 to 8,00,000 20%
8,00,001 and above 30%
2) For womens below the age of 65 years
0 to 1,90,000 0%
(Rest same as above)
3) For residential individual between 65 to 80 years of age
0 to 2,50,000 0%
Rest asme as above
4) for Residentail Individual above 80 years of age
0 to 5,00,000 0%
Income tax rates applicable for the financial year (FY) 2010-11 and assessment year (AY) 2011-12 are mentioned below:
|
Income tax slab for ay 11-12 |
||
| New Income Tax Slabs for ay 11-12 for Resident Senior Citizens (FY 2010-11) | ||
| S. No. | Income Range | Tax percentage |
| 1 | Up to Rs 2,40,000 | No tax / exempt |
| 2 | 2,40,001 to 5,00,000 | 10% |
| 3 | 5,00,001 to 8,00,000 | 20% |
| 4 | Above 8,00,000 | 30% |
| Income Tax Slabs for ay 11-12 for Resident Women (below 65 years) (FY 2010-11) | ||
| 1 | Up to Rs 1,90,000 | No tax / exempt |
| 2 | 1,90,001 to 5,00,000 | 10% |
| 3 | 5,00,001 to 8,00,00 | 20% |
| 4 | Above 8,00,000 | 30% |
| New Income Tax Slabs for ay 11-12 Others & Men (FY 2010-11) | ||
| 1 | Up to Rs 1,60,000 | No tax / exempt |
| 2 | 1,60,001 to 5,00,000 | 10% |
| 3 | 5,00,001 to 8,00,000 | 20% |
| 4 | Above 8,00,000 | 30% |
For normal category the simple calculation is as follows
- Taxable Income in 10% slab maximum tax will be Rs 34000
- Taxable Income in 20% slab maximum tax will be Rs 34000 + Rs 60000 total Rs 94000
- Taxable Income in 30% slab minimum tax will be Rs 94000
Education and other cess will be in addition to this
| Originally posted by : saroj kumar | ||
 |
Income tax rates applicable for the financial year (FY) 2010-11 and assessment year (AY) 2011-12 are mentioned below: Income tax slab for ay 11-12 New Income Tax Slabs for ay 11-12 for Resident Senior Citizens (FY 2010-11) S. No. Income Range Tax percentage 1 Up to Rs 2,40,000 No tax / exempt 2 2,40,001 to 5,00,000 10% 3 5,00,001 to 8,00,000 20% 4 Above 8,00,000 30% Income Tax Slabs for ay 11-12 for Resident Women (below 65 years) (FY 2010-11) 1 Up to Rs 1,90,000 No tax / exempt 2 1,90,001 to 5,00,000 10% 3 5,00,001 to 8,00,00 20% 4 Above 8,00,000 30% New Income Tax Slabs for ay 11-12 Others & Men (FY 2010-11) 1 Up to Rs 1,60,000 No tax / exempt 2 1,60,001 to 5,00,000 10% 3 5,00,001 to 8,00,000 20% 4 Above 8,00,000 30% For normal category the simple calculation is as follows Taxable Income in 10% slab maximum tax will be Rs 34000 Taxable Income in 20% slab maximum tax will be Rs 34000 + Rs 60000 total Rs 94000 Taxable Income in 30% slab minimum tax will be Rs 94000 Education and other cess will be in addition to this |
 |
Agree with Ravi,
Except the age limits for senior citizen, the age limit for senior citizen is 60 not 65 (proposed in finance budget 11-12)
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