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Income Tax Rates applicable for Individuals, Hindu Undivided Family (HUF), Association of Persons (AOP) and Body of Individuals (BOI) in India is as under:
Assessment Year 2010-11, Relevant to Financial Year 2009-10
For Individuals below 65 years age, other than Woman Assessees:
|
Income
|
Tax Rate
|
|
Upto 160,000
|
Nil
|
|
160,000 to 300,000
|
10% of the amount exceeding 160,000
|
|
300,000 to 500,000
|
Rs.14,000 + 20% of the amount exceeding 300,000
|
|
500,000 & above
|
Rs.54,000 + 30% of the amount exceeding 500,000
|
For Woman Assessees below 65 years:
|
Income
|
Tax Rate
|
|
Upto 190,000
|
Nil
|
|
190,000 to 300,000
|
10% of the amount exceeding 190,000
|
|
300,000 to 500,000
|
Rs.11,000 + 20% of the amount exceeding 300,000
|
|
500,000 & above
|
Rs.51,000 + 30% of the amount exceeding 500,000
|
For Individuals aged 65 years and above:
|
Income
|
Tax Rate
|
|
Upto 240,000
|
Nil
|
|
240,000 to 300,000
|
10% of the amount exceeding 240,000
|
|
300,000 to 500,000
|
Rs.6,000 + 20% of the amount exceeding 300,000
|
|
500,000 & above
|
Rs.46,000 + 30% of the amount exceeding 500,000
|
Surcharge on Income Tax: Nil
Education Cess: 3% of Income Tax
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