Income Tax Rates 2010-11 (Assessment Year 2011-12)

by GConnect TeamFebruary 27, 2010

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.5,00,000/-. 10% of amount by which the total income exceeds Rs. 1,60,000/-
iii. Where the total income exceeds Rs.5,00,000/- but does not exceed Rs.8,00,000/-. Rs. 34,000/- + 20% of the amount by which the total income exceeds Rs.5,00,000/-.
iv. Where the total income exceeds Rs.8,00,000/-. Rs. 94,000/- + 30% of the amount by which the total income exceeds Rs.8,00,000/-.

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.5,00,000/-. 10% of the amount by which the total income exceeds Rs.1,90,000/-.
iii. Where the total income exceeds Rs.5,00,000/- but does not exceed Rs.8,00,000/-. Rs. 31,000- + 20% of the amount by which the total income exceeds Rs.5,00,000/-.
iv. Where the total income exceeds Rs.8,00,000/- Rs.91,000/- + 30% of the amount by which the total income exceeds Rs.8,00,000/-.

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.5,00,000/- 10% of the amount by which the total income exceeds Rs.2,40,000/-.
iii. Where the total income exceeds Rs.5,00,000/- but does not exceed Rs.8,00,000/- Rs.26,000/- + 20% of the amount by which the total income exceeds Rs.5,00,000/-.
iv. Where the total income exceeds Rs.8,00,000/- Rs.86,000/- + 30% of the amount by which the total income exceeds Rs.8,00,000/-.

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

Education Cess: 3% of the Income-tax.

  • Ravindra
    April 12, 2011 at 7:02 pm

    Dear Sir,
    I Would like to bring to your kind notice that one of my cousin who was retired from the Bank Service on VRS Scheme on 2008-2009. On that year he received a salary amount of Rs. 4.50 lakhs + VRS amount of Rs. 9.50 lakhs. The income tax authority have deducted Income Tax on the whole amount of VRS received by combining my salary received and VRS amount  Where as it is pf the opinion that  that any amount received more than Rs. 5.00 lakhs under VRS scheme only taxable irrespective of what amount of salary earned and the salary earnings  and VRS amount received should treated separately. I am also having the same opinion. Kindly tell me under the above circumstance what is my tax liability. I had paid the tax amount on the whole amount of Rs. 9.00 lakhs VRS amount received

  • Rishi-Nath Thakur
    January 10, 2011 at 3:42 pm

    Dear Sir,
    I have income more than 6,00,000/- p.a from online net marketing, kindly suggest me which form ITR is required filing the return for the year 2010-11, can you tell which type of expenses show in while preparing Income & expenditure. In ITR form under which head ( Business & Professional) or other.

    • admin
      January 13, 2011 at 9:35 pm

      You have to file ITR-2. Normally, one has to pay tax on Profit earned through business. The situation you mentioned require detailed study for determining tax liability. Please consult a good tax consultant

  • Ramesh Anand
    December 30, 2010 at 12:45 pm

    I am 70 years of age and a pensioner.During the financial yar 2010-11,my pension will be 5,18,000/ including accrued interest from bank around Rs.1.30,000.I shall save Rs 1,00,000 under sc 80 C during this financial year. Kindly calculate my income tax laibility.

  • s c agrawal
    December 9, 2010 at 11:57 am

    a deduction of rs. 15000/- is allowed as standard deduction from family pension. pl make amendment.       s c agrawal.

  • Gopal Chavan
    November 26, 2010 at 11:29 am

    I am student of MBA Finance I want to know is Educational cess what mean by it.
    Please explain me in detail.

    • admin
      December 2, 2010 at 3:18 pm

      It’s a component of income tax to be paid in respect of the income received by an Indian National above Rs.1,60,000

  • sujith
    November 16, 2010 at 10:36 am

    Dear Sir, My CTC is 4.15LPA in that 20,000 Per month as basic, 7000 per month as HRA. These are the montly components. Yearly 12,000 as annual bonus, 15,500 as LTA. These are my earnings deducting Gratuity,Medical reimbursment,PF,etc..
    Can you tell me how much savings I need to show In order to get full salary without deducion.

  • Sadashiv
    November 8, 2010 at 2:47 pm

    Are the investments under Senior Citizens Savings Scheme 2004, are permissible for tax exemption for the accounting year 2010–11, i. e. Assement Year 2011–12 ?

  • TP Narasimhaiah
    October 30, 2010 at 7:59 pm

    I understand that pensioners can avail deduction under 80c through investment in Senior citizen saving either in Bank or Post office

    • November 23, 2011 at 10:46 pm

      I am also a pensioner retired on sep,2010 Genaral P. F, gratuity commuted ammount
      will be included in my total income with pension ? please let me know (for the year 2011– 2012)

    October 28, 2010 at 9:47 pm


    My gross salary for the year april 2010-March 2011 will b Rs. 4,20,000/- approx annually. House building loan interest will be approx.Rs. 80,000/- approx, Repayment of Home Loan Instalments will b More than Rs. 1,50,000/-p.a., GPF will be Rs.45,000/-. What will be my T ax liability. Regards.

  • Rahul Maheshwari
    October 19, 2010 at 12:47 pm

    Please guide me to calculate the income tax for 2010-2011 financial year.
    For saving I am showing LIC premium (Section 80C) of 90,000/-, house loan principle repayment (Section 80C) of Rs. 25000/- and Education loan interest repayment (Section 80E) 25,000/- Also I am showing Mediclaim for family (Section 80D) for Rs. 10000/-.

    Apart from this I get food vouchers of Rs.12,000/- and travel allowance Rs. 9600/- and Medical Allowance 15,000/- for saving the tax Annnualy.
    My Salary Components are : Basic : 18750
    Sp. Allowance
    : 5545
    Basic : 18750
    : 9375
    Basic : 18750
    Medical Allowance
    : 1250
    PF : 780
    Food Vouchers
    : 1000
    Travel Allowance : 800 Total = 37000/- monthly

    Please help me out for calculating the income tax for 2010-2011 .

  • batmanabane
    October 17, 2010 at 7:17 am

    how much rupees we deduct for school reimbursement tuition fees when we calculate the income tax. can you send the G.O to my email

    • admin team
      October 17, 2010 at 10:29 am

      Dear batmanabane
      Tuirtion fee paid for 2 children fully exempted without any individual limit but it is to be claimed under 80 C of IT ACT the limit is 1 lac only .

  • September 25, 2010 at 8:12 pm

    I am physically handicapped (52%) employee, Tell me how many relief u/s80U for financial year 2010-2011.

  • deepak
    September 14, 2010 at 3:19 pm

    Pls. tell me what will be the tax on income for finincial year 2010-11
    1. Short term capital gain = Rs. 921800.00
    2. Agriculture Income = Rs. 90000.00
    3. other income = Rs. 10000.00
    when to pay the tax, these data is for indivisual

  • sushma narang
    September 3, 2010 at 5:55 pm

    tell me how calculate the income tax for fy 2010-11 assesment year 2011-12

  • arshad ali
    September 2, 2010 at 6:29 pm

    i want to know whether interest paid/payable on house loan is deducted separately other than 110000 of saving limit

    • admin team
      September 3, 2010 at 6:12 am

      Dear arshad ali
      Yes. You can avail Housing loan interest separately as Set off to House Property income ( Even in case of HP income is NIL because of own use)beyond regular saving of 1 lac+govt infra bond

  • J Viswanadha Kumar
    September 1, 2010 at 1:05 pm

    pl send newly amended salaries slab rates for the asst.year 2011-12 and financial year 2010-11.

  • June 13, 2010 at 4:12 pm

    I want online tool to generate ITR-2 for F.Y. 2009-2010 (A.Y. 2010-1011).

  • shyam kumar
    April 28, 2010 at 10:04 pm

    i want acknowledgement form of saral-II online

  • Dinu
    April 27, 2010 at 6:21 am

    CBDT notifies New Income Tax Return Form SARAL II (ITR 1) for Assessment Year 2010-11 for Individuals having income from Salary/Pension/Income from One House Property (Excluding loss brought forward from previous years) / Income from Other Sources (Excluding winning from Lottery and Income from Race Horses). CBDT also notifies Income Tax Return Verification Form ITR-V for Assessment Year 2010-11 for SARAL II (ITR-1) ITR-2, ITR-3, ITR-4, ITR-5, ITR-6 & ITR-8 transmitted electronically without digital signature.

  • Brijesh Singh
    April 5, 2010 at 5:22 pm

    Sir Please send me list of Incoem tax slab rate F.Y. 2010-2011

    • admin team
      April 8, 2010 at 8:14 am

      Dear brijesh
      Please go thro. the article Income tax rates for 2010-11( Assessment Year2011-12) in Gconnect

  • Lalitha
    March 26, 2010 at 6:31 pm

    What about the total amount exempted under Sec 80C, still Rs.1L?

  • March 26, 2010 at 9:51 am

    Sir My gross salary is about Rs. 9.0 lakhs. I have plan of saving about 1.2 lakhs in provident fund, Rs. 1.8 lakhs in N.S.C and Rs. 20,000 in infrastructure bond. How much tax I have to pay for the assessment year 2011-1012 that will enable me to find out the monthly deduction from my salary. Waiting for your early reply.

    • admin
      March 27, 2010 at 9:10 am

      Please wait for a month or two for GConnect Income tax tool 2010-11 for exact calculation. Any way an approximate estimation could be as follows

      Gross income —Rs.900000
      less savings —Rs.110000 (this is the maximum)
      Net income —-Rs. 790000
      this could be split up like this for tax purpose

      Deduction under Chapter VIA were not taken into account as you did not provide any details

    • July 11, 2010 at 12:48 am

      salary 9 lakh

      less Deduction under 80C upto 100000 you can claim. your Taxable Income will be 800000 on this you will be taxed i.e.

      upto 160000 nil and from 160000 to 300000 10% in your case it will be 14000 (140000 * 10/100) and Next slab will be from 300000 to 500000 and the tax rate is 20% in your case it will be 40000 (200000 * 20/100) and The next slab will be 500000 to 800000 30% but in your case it will be 90000 (300000 * 30/100) THE TOTAL TAX YOU NEED TO PAY IS 14000+40000+90000= RS 144000.

      • Roshan
        July 21, 2010 at 2:41 pm

        Mahesh your calculations are incorrect. Cause, you are capturing the old rates. The Admin calculations are right.

    March 21, 2010 at 8:58 pm

    Is it limit (Rs.800) on TA for tax calculation or totaly exempted from tax

  • March 21, 2010 at 3:45 pm

    dear Sir, I would like to know about the admissible deductions and rebate for the fy. 2010-2011

    • admin
      March 22, 2010 at 6:00 pm

      Please wait for a month or two, for clear cut orders from Income tax on admissible deductions for the assessment year 2011-12 (F.year 2010-11)

  • roshan sahani
    March 11, 2010 at 10:30 am

    We are getting HRA form our org. does it will include in total income or it will be deducted from the total income while paying income tax.

  • anand
    March 6, 2010 at 3:53 pm

    The govt is trying to put further pressure on low income group by keeping the lower range unchanged and benefitting the high income group by giving them more benefits is this logical. If at all the govt is poor friendly they should have given a thought. By doing so they will surely increase the number of tax payers but not the revenue.

  • March 2, 2010 at 11:54 pm

    FM had chosen to please only those who are in the upper brackets of the IT slabs.He did not consider those who are in between !.6 lakhs and 3 lakhs annual income,for whom thee is no difference at all in tax compared to last year (Fin. year 2009-10).Is it not unfair?It is this group of people who are the real middle class and many are pensioners also.who will represent their case?They deserve consideration by the FM.Hope he will consider favourably and make suitable amendmentbefore the budget is passed-srinivasulu

  • March 1, 2010 at 12:14 pm

    We should welcome the new initiative of tax reforms taken by the brave and one of the best finance Minister of India, Mr. Pranob Mukherjee. I think more and more people would come forward to pay their Tax freely and openly. So the real Tax revenue would be higher and planned expenditure of the union budget would be as per target and estimation.

  • K Suryanarayana
    February 28, 2010 at 11:10 pm

    Kindly provide me the information regarding insurance plans in addition to CGHS and deductions allowed under Income tax for the year 2010-11

  • m.raja
    February 28, 2010 at 9:21 am

    I am in central govt. service for 12 years but still unable to clearly understand my tax calculation. Can any one help me in calculating the tax for 2010-11 as per new proposals? My total gross income for th FY 2010-11 will be 38000×12=4,56,000, in this my HRA & TA amounts to RS.90,000. My savings will be 1,00,000 , please tell me what will be the taxable amount and how much the tax will be? 

    • admin
      March 7, 2010 at 5:11 pm

      Total income for 2010-11 Rs.456000
      HRA and TA (assumed as deduction) Rs.90000
      savings Rs.1,00,000
      Taxable income : Rs.266000
      tax : 266000-160000=@10% for 106000

      • amitabh
        March 8, 2010 at 12:28 am

        What about education cess at 3 %? Does he not have to pay 3% of 10600 as edu cess?

        • admin
          March 8, 2010 at 7:32 am

          education cess @3% continues

        • July 10, 2010 at 10:07 pm

          Yours total Tax is 10600 on this there will be 3% educational cess it comes to Rs 318. Add 10600 + 318 = the total Tax you need to pay is 10918. If your Employer has withheld any amount i.e. TDS you can deduct that from your Tax and remaining you has to pay as Tax.

    • Dinu
      March 30, 2010 at 6:25 am

      Why dont you use tax calculator facility on gconnect?
      I would have suggested certain things. But i dont know how to upload my word document on this forum.

  • February 27, 2010 at 4:17 pm

    Can you provide a list of Long Term Infra Structure Bonds for investing Rs.20000/-under 80CCF.

    • Malaikolundu Kuppuswamy
      February 27, 2010 at 9:42 pm

      Infra Bonds eligible for deduction ( Rs 20000) under 80CCF will be notified by the CBDT in due course. Anyhow, the financial year is going to commence only from April 2010 only. More over,this is only finance bill and it has to be got discussed and approved by the Parliament. Then only it will become Finance Act capable of being implemented.. Till then, it is only Budget proposals.

      – Malaikolundu Kuppuswamy, Porur, Chennai – 600116.

    • abhay kumar sinha
      February 28, 2010 at 11:56 am

      idbi and icici bonds

    • March 1, 2010 at 12:20 pm

      New and fresh notification would be issued by Finance ministry, Govt. of india stating the list of approved financial institutions engaged in long term financing the infrastructure projects.

  • padmanabhan
    February 27, 2010 at 12:31 pm

    sir,i have two doubts. as NDC is coming from next year whether there will be chang in the basic l amount from the It exemption from Rs1.6 for males. DA is given to compensate for rise in prices but again taxing actually lowering the purchase power of ordinary govt.employees. is there any change is graduity exemption.thank you,yours sincerely,V.padmanabhan TO,VCRC, Pondicherry

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