Here is the latest income tax slab rates for Year 2011-2012. This tax table based on the latest income tax slab is a ready reference for calculating your income tax for year 2011-12.
Quick highlights
- Base slab for general tax payers increased to 1.8 lakh from original 1.6 lakh
- Senior citizen age reduced to 60 years from last years 65 years. Senior citizen now include people between 60 and 80 years. Also increased the base slab for senior citizen to 2.5 lakh from previous years 2.4 lakh
- A new category called "Very Senior citizen" added for people above 80 years.
Income tax slabs 2011-2012 for General tax payers
| Income tax slab (in Rs.) | Tax
|
|---|
| 0 to 1,80,000 | No tax
|
| 1,80,001 to 5,00,000 | 10%
|
| 5,00,001 to 8,00,000 | 20%
|
| Above 8,00,000 | 30%
|
Income tax slabs 2011-2012 for Women
| Income tax slab (in Rs.) | Tax
|
|---|
| 0 to 1,90,000 | No tax
|
| 1,90,001 to 5,00,000 | 10%
|
| 5,00,001 to 8,00,000 | 20%
|
| Above 8,00,000 | 30%
|
Income tax slabs 2011-2012 for Senior citizen (Aged 60 years but less than 80 years)
| Income tax slab (in Rs.) | Tax
|
|---|
| 0 to 2,50,000 | No tax
|
| 2,50,001 to 5,00,000 | 10%
|
| 5,00,001 to 8,00,000 | 20%
|
| Above 8,00,000 | 30%
|
Income tax slabs 2011-2012 for Very Senior citizen (Above 80 years)
| Income tax slab (in Rs.) | Tax
|
|---|
| 0 to 5,00,000 | 0%
|
| 5,00,001 to 8,00,000 | 20%
|
| Above 8,00,000 | 30% |
Thanks for giving information about different Income Tax Slab which are applicable on taxable income. I was looking for that information finally i achieve from this post. It is very clearly define that Different age group has different income tax slab.
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