| New Income Tax Rates (Revised slab Table after budget-2009) |
|---|
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 millon) for Personal Income Tax payers.
The new Income Tax slab for A.Y.2010-11, F.Y.2009-10 will stand as follows.
| Taxable Income | Senior Citizens | Women | Others |
|---|---|---|---|
| Up to Rs.1,60,000 | Nil | Nil | Nil |
| Rs.1,60,001 to Rs.1,90,000 | Nil | Nil | 10% of the amount exceeding Rs.1,60,000 |
| Rs.1,90,001 to Rs.2,40,000 | Nil | 10% of the amount exceeding Rs.1,90,000 | 10% of the amount exceeding Rs.1,60,000 |
| Rs.2,40,001 to Rs.3,00,000 | 10% of the amount exceeding Rs.2,40,000 | 10% of the amount exceeding Rs.1,90,000 | 10% of the amount exceeding Rs.1,60,000 |
| Rs.3,00,001 to Rs.5,00,000 | Rs.6,000 + 20% of the amount exceeding Rs.3,00,000 | Rs.11,000 + 20% of the amount exceeding Rs.3,00,000 | Rs.14,000 + 20% of the amount exceeding Rs.3,00,000 |
| Rs.5,00,001 and above | Rs.46,000 + 30% of the amount exceeding Rs.5,00,000 | Rs.51,000 + 30% of the amount exceeding Rs.5,00,000 | Rs.54,000 + 30% of the amount exceeding Rs.5,00,000 |
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