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.
To find out how much is your savings due to the latest tax slabs, you can use our free income tax calculator to do a quick calculation.
Click here 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% |
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