INCOME TAXPreperation and Calculation of Your Income Tax for the Assessment Year 2011-12Income Tax slabs have been increased slightly (by Rs. 20,000 for men & for women no change for the Assessment Year 2010-11. The updated income tax slabs are:
Income Tax Slabs 2011/2012 Women
Preperation and Calculation of Your Income Tax for the Assessment Year 2010-11Income Tax slabs have been increased slightly (by Rs. 10,000 for men & women and Rs. 15,000 for Senior Citizen) for the Assessment Year 2009-10. The updated income tax slabs are:
Income Tax Slabs 2010/2011 or Women
Income Tax slabs 2009/2010 for Senior Citizen
In addition to the income tax calculated according to the above income tax slabs, a 3% of Education cess will be charged on the total Income tax paid (not on the total taxable income). If the taxable income exceeds Rs. 10 lacs, a 10% surcharge on the total income tax (not on the total taxable income) is also charged.
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