Central Government Employees News, 7th Pay Commission, MACP, LTC, CGHS, Railways, Bank News, CPSE, NPS, Pension, DOPT and More

Income Tax Rates 2009-10 (Assessment year 2010-2011)

The following chart shows the Income tax rates for the year 2009-10 (Assessment year 2010-11). Let’s plan for the Income tax from now on to avoid taking home peanuts at the end of financial year thanks hefty chunk of our salary being deducted as tax. Instead we can calculate the income tax to be paid now itself and pay income tax by monthly installments. GConnect would come up with online IT Calculator 2009-10 soon.

Income Tax Rates 2009-10,income tax Assessment year 2010-2011,income tax assessment year,income tax return,it return,india income tax,itr-1 itr-2,income tax exemption

In case of individual (other than II and III below) and HUF

Income Level Income Tax Rate
i. Where the total income does not exceed Rs.1,60,000/-. NIL
ii. Where the total income exceeds Rs.1,60,000/- but does not exceed Rs.3,00,000/-. 10% of amount by which the total income exceeds Rs. 1,60,000/-
iii. Where the total income exceeds Rs.3,00,000/- but does not exceed Rs.5,00,000/-. Rs. 14,000/- + 20% of the amount by which the total income exceeds Rs.3,00,000/-.
iv. Where the total income exceeds Rs.5,00,000/-. Rs. 54,000/- + 30% of the amount by which the total income exceeds Rs.5,00,000/-.

II. In case of individual being a woman resident in India and below the age of 65 years at any time during the previous year:-

Income Level Income Tax Rate
i. Where the total income does not exceed Rs.1,90,000/-. NIL
ii. Where total income exceeds Rs.1,90,000/- but does not exceed Rs.3,00,000/-. 10% of the amount by which the total income exceeds Rs.1,90,000/-.
iii. Where the total income exceeds Rs.3,00,000/- but does not exceed Rs.5,00,000/-. Rs. 11,000- + 20% of the amount by which the total income exceeds Rs.3,00,000/-.
iv. Where the total income exceeds Rs.5,00,000/- Rs.51,000/- + 30% of the amount by which the total income exceeds Rs.5,00,000/-.

III. In case of an individual resident who is of the age of 65 years or more at any time during the previous year:-

Income Level Income Tax Rate
i. Where the total income does not exceed Rs.2,40,000/-. NIL
ii. Where the total income exceeds Rs.2,40,000/- but does not exceed Rs.3,00,000/- 10% of the amount by which the total income exceeds Rs.2,40,000/-.
iii. Where the total income exceeds Rs.3,00,000/- but does not exceed Rs.5,00,000/- Rs.6,000/- + 20% of the amount by which the total income exceeds Rs.3,00,000/-.
iv. Where the total income exceeds Rs.5,00,000/- Rs.46,000/- + 30% of the amount by which the total income exceeds Rs.5,00,000/-.

Surcharge: The surcharge on Income Tax for Individuals for total income exceeding Rs.10 lacs stands removed.

Education Cess: 3% of the Income-tax.

Comments
Loading...
;

Add A Knowledge Base Question !

You will get a notification email when Knowledgebase answerd/updated!

+ = Verify Human or Spambot ?

close

Got a question?

Just post it on GC Assist and let the members of GConnect Community help you find the answer.