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Tax rate 2010-11, Income Tax

Issue Id: - 2585
Dated: 3-1-2011
By:- nasisr haider
Tax rate 2010-11

  • Contents
what is the current income tax rate 2010-11

Posts / Replies

Showing Replies 1 to 1 of 1 Records

1 Dated: 5-1-2011
By:- rishi mohan

Current income tax slab rates are as follows

Individuals, HUF

Net Income Range

Income Tax Rates

Tax

 

Upto Rs. 1,60,000

Nil

Nil

 

Rs. 1,60,000 - Rs. 3,00,000

10%

10% of total income minus Rs. 1,60,000

See Notes

Rs. 3,00,000 - Rs. 5,00,000

20%

Rs. 14,000 + 20% of total income minus Rs. 3,00,000

--do--

Above 5,00,000

30%

Rs. 54,000 + 30% of total income minus Rs. 5,00,000

--do--

Special Rates for Resident Women (who is below 65 years at any time during the previous year)

Net Income Range

Income Tax Rates

Tax

 

Upto Rs. 1,90,000

Nil

Nil

 

Rs. 1,90,000 - Rs. 3,00,000

10%

10% of total income minus Rs. 1,90,000

See Notes

Rs. 3,00,000 - Rs. 5,00,000

20%

Rs. 11,000 + 20% of total income minus Rs. 3,00,000

--do--

Above 5,00,000

30%

Rs. 51,000 + 30% of total income minus Rs. 5,00,000

--do--

Special Rates for Resident Senior Citizen (who is 65 years or more at any time during the previous year)

Net Income Range

Income Tax Rates

Tax

 

Upto Rs. 2,40,000

Nil

Nil

 

Rs. 2,40,000 - Rs. 3,00,000

10%

10% of total income minus Rs. 2,40,000

See Notes

Rs. 3,00,000 - Rs. 5,00,000

20%

Rs. 6,000 + 20% of total income minus Rs. 3,00,000

--do--

Above 5,00,000

30%

Rs. 46,000 + 30% of total income minus Rs. 5,00,000

--do--

Rates for Firms

Rate of Tax is 30%

Rates for Companies

Company

Rate of Income Tax

In case of domestic company

30%

In case of foreign Company

 

-

Royalty received from Government or an Indian Concern in pursuance of an agreement made by it with the Indian concern after March 31, but before April 1, 1976, or fees for rendering technical services in pursuance of an agreement made by it after February 29, 1964 but before April 1, 1976 and where such agreement has, in either case, been approved by central Government

50%

-

Other Income

40%

 


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