Income Slabs Tax Rates
Individual & HUF below age of 65 years Women below age of 65 years Individual above age of 65 years
Income upto Rs.1,60,000 Income upto Rs.1,90,000 Income upto Rs.2,40,000 Nil
Rs.1,60,001- Rs. 5,00,000 Rs.1,90,001-Rs.5,00,000 Rs.2,40,001-Rs.5,00,000 10%
Rs. 5,00,001- Rs.8,00,000 Rs. 5,00,001- Rs.8,00,000 Rs. 5,00,001- Rs.8,00,000 20%
Above Rs.8,00,001 Above Rs.8,00,001 Above Rs.8,00,001 30%

Income tax rates for assessment year 2011-2012 (Financial year 2010-2011)

Education Cess: An additional surcharge called “Education cess” at the rate of 2% on the amount of income tax and surcharge (if any) in all cases shall be levied.

Secondary and higher: An additional surcharge, called the “Secondary and Higher education cess on income tax at the rate of 1% of income tax and surcharge ( Not including the education cess on income tax) in all cases shall be levied.