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| NEWS REPORT: Amended Rates of Income Tax for the year 2010-2011 Jul 19, 10 |
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Rate Of Income Tax for male upto 65 years of age :
Annual Net Income upto Rs 1,60,000 No tax
Rs. 1,60,000 to 5,00.000 10%
Rs, 5,00,000 to 8,00,000 20%
Rs. 8,00,000 and above 30%
For Female upto 65 years of age
Annual Net income upto Rs.1,90,000 No tax
Rs. 1,90,000 to 5,00,000 10%
Rs.5,00,000 to 8,00,000 20%
Rs.8,00,000 and above 30%
Senior Citizens : ( on or after completion of 65 years of age)
Annual Net income upto Rs.2,40,000 No tax
Rs.2,40,000 to 3,00,000 10%
Rs.3,00,000 to 5,00,000 20%
Rs,5,00,000 to 8,00,000 30%
Tax audit limit increases to 60 lakhs from 40 lakhs |
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