Income Tax Slabs for FY 2010 - 11 and 2009 - 10

Income Tax Rates/Slab for Assesment Year 2011-12 (F Y 2010-11)	Rate (%)
Up to 1,60,000 Up to 1,90,000 (for women) Up to 2,40,000 (for resident individual of 65 years or above)	NIL
1,60,001 – 5,00,000	10
5,00,001 – 8,00,000	20
8,00,001 upwards	30
Few amendments made to the taxation system for the FY 2010-11: From now onwards there will be only 2 pages in the IT filing form for individuals. More cases can now be appealed against. Rs. 20,000 tax exemption will be provided for investments in certain investment bonds. This is in addition to the already allowed exemption (Rs. 1,00,000) in certain savings instruments. Tax Exemption will be given for contribution to the Central Government Health Scheme (CGHS). New fields have been added to the e-TDS/TCS form. These new fields are Ministry name; PAO / DDO code; PAO / DDO registration no.; State name; and Name of the utility used for return preparation.

Income Tax Rates/Slab for Assesment Year 2010-11 (F Y 2009-10)	Rate (%)
Up to 1,60,000 Up to 1,90,000 (for women) Up to 2,40,000 (for resident individual of 65 years or above)	NIL
1,60,001 – 3,00,000	10
3,00,001 – 5,00,000	20
5,00,001 upwards	30*
*A surcharge of 10 per cent of the total tax liability is applicable where the total income exceeds Rs 1,000,000. Note : - Education cess is applicable @ 3 per cent on income tax, inclusive of surcharge if there is any. A marginal relief may be provided to ensure that the additional IT payable, including surcharge, on excess of income over Rs 1,000,000 is limited to an amount by which the income is more than this mentioned amount. Agricultural income is exempt from income-tax.