This article gives you the details of the most recent, currently applicable income tax slabs / brackets and the applicable income tax rates. The slabs for women and senior citizens are also covered.
The article also covers some historic slabs and tax rates.
One of the most basic queries that I always get is: What are the applicable IT slab rates for the current year?
Well, knowing the IT brackets and the income tax rates for each is one of the most important steps in calculating your income tax liability.
So, let’s find out what these are for this year.
(Ready to file your income tax return, but confused which form to use? Please read “Income Tax (IT) Return Filing – Which ITR form to use?“)
Income tax (IT) slabs / brackets for Financial Year 2011-12, Assessment Year 2012-13
| Rate | Income | |||
| Men | Women | Senior Citizens (Age 60-80 years) |
Very Senior Citizens (Age above 80 years) |
|
| 0% | Less than 1,80,000 |
Less than 1,90,000 |
Less than 2,50,000 |
Less than 5,00,000 |
| 10% | 1,80,001 to 5,00,000 |
1,90,001 to 5,00,000 |
2,50,001 to 5,00,000 |
NA |
| 20% | 5,00,001 to 8,00,000 |
5,00,001 to 8,00,000 |
5,00,001 to 8,00,000 |
5,00,001 to 8,00,000 |
| 30% | 8,00,001 and above |
8,00,001 and above |
8,00,001 and above |
8,00,001 and above |
Notes:
An education cess of 3% is applicable on income tax payable for every income tax assessee.
(Ready to file your income tax return, but confused which form to use? Please read “Income Tax (IT) Return Filing – Which ITR form to use?“)
Confused about filling the income tax return form – ITR? Want step by step guidance, and a video tutorial? Please read:
Income tax (IT) slabs / brackets for Financial Year 2010-11, Assessment Year 2011-12
| Rate | Income | ||
| Men | Women | Senior Citizens |
|
| 0% | Less than 1,60,000 |
Less than 1,90,000 |
Less than 2,40,000 |
| 10% | 1,60,001 to 5,00,000 |
1,90,001 to 5,00,000 |
2,40,001 to 5,00,000 |
| 20% | 5,00,001 to 8,00,000 |
5,00,001 to 8,00,000 |
5,00,001 to 8,00,000 |
| 30% | 8,00,001 and above |
8,00,001 and above |
8,00,001 and above |
Notes:
An education cess of 3% is applicable on income tax payable for every income tax assessee.
(Ready to file your income tax return, but confused which form to use? Please read “Income Tax (IT) Return Filing – Which ITR form to use?“)
Confused about filling the income tax return form – ITR? Want step by step guidance, and a video tutorial? Please read:
(Want to know the changes in income tax slabs / brackets in budget 2010-11? Please read “Budget 2010-2011: More money for you due to Income Tax slab / bracket changes“)
Income tax (IT) slabs / brackets for Financial Year 2009-10, Assessment Year 2010-11
| Rate | Income | ||
| Men | Women | Senior Citizens |
|
| 0% | Less than 1,60,000 |
Less than 1,90,000 |
Less than 2,40,000 |
| 10% | 1,60,001 to 3,00,000 |
1,90,001 to 3,00,000 |
2,40,001 to 3,00,000 |
| 20% | 3,00,001 to 5,00,000 |
3,00,001 to 5,00,000 |
3,00,001 to 5,00,000 |
| 30% | 5,00,001 and above |
5,00,001 and above |
5,00,001 and above |
Notes:
An education cess of 3% is applicable on income tax payable for every income tax assessee.
(Ready to file your income tax return, but confused which form to use? Please read “Income Tax (IT) Return Filing – Which ITR form to use?“)
Confused about filling the income tax return form – ITR? Want step by step guidance, and a video tutorial? Please read:
(Want to know what changes budget 2009 has brought about? Please read “Budget 2009-2010: Personal income tax (IT) related changes and impact on you“)
Income tax (IT) slabs / brackets for Financial Year 2008-09, Assessment Year 2009-10
| Rate | Income | ||
| Men | Women | Senior Citizens |
|
| 0% | Less than 1,50,000 |
Less than 1,80,000 |
Less than 2,25,000 |
| 10% | 1,50,001 to 3,00,000 |
1,80,001 to 3,00,000 |
2,25,001 to 3,00,000 |
| 20% | 3,00,001 to 5,00,000 |
3,00,001 to 5,00,000 |
3,00,001 to 5,00,000 |
| 30% | 5,00,001 and above |
5,00,001 and above |
5,00,001 and above |
Notes:
A surcharge of 10% of your total income tax liability is applicable if your total income is more than Rs 10,00,000.
An education cess of 3% is applicable on income tax (inclusive of surcharge if there is any) for every income tax assessee.
(Ready to file your income tax return, but confused which form to use? Please read “Income Tax (IT) Return Filing – Which ITR form to use?“)
Confused about filling the income tax return form – ITR? Want step by step guidance, and a video tutorial? Please read:
(Want to know how much tax you are saving due to these new IT slabs? Please read “Budget 2008 – Impact of Income Tax Slab / Bracket Changes on You“)
Income tax (IT) slabs / brackets for Financial Year 2007-08, Assessment Year 2008-09
| Rate | Income | ||
| Men | Women | Senior Citizens |
|
| 0% | Less than 1,10,000 |
Less than 1,45,000 |
Less than 1,95,000 |
| 10% | 1,10,001 to 1,50,000 |
1,45,001 to 1,50,000 |
NA |
| 20% | 1,50,001 to 2,50,000 |
1,50,001 to 2,50,000 |
1,95,001 to 2,50,000 |
| 30% | 2,50,001 and above |
2,50,001 and above |
2,50,001 and above |
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Hi Rahul,
Thanks for the good words…
I would definitely try to write more about loans. In the mean time, please check out the “Loans” section for the articles I have written on loans till now.
u r information on tax is good
Hi Neha,
I have absolutely no experience in the taxation of companies – so would not be able to help you there. Sorry!
Hi Chandran,
There are some deductions available owing to disability.
Please check out these articles:
- Are you disabled? Save income tax under section 80U
- Have a disabled dependent? Save income tax using section 80DD
Hi Bhuvnesh,
Form 17 is available under many acts. Can you please specify exactly which form you need?
what is the duration to get refund of income tax from the authorities????????
wanted to know about the tax bracket paid by a company???
Hi Swapnil,
I’m sorry, but I do not have the ITR forms in Excel format.
kindly give me ITR-1 TO ITR-8 IN EXCEL FORMAT
kindly give me ITR-1 TO ITR-8 IN EXCEL FORMAT
FOR ASSESSMENT YEAR 2009-2010
Hi Kailash Babu,
You can download it from here: http://www.raagvamdatt.com/module-Downloads-sublevel-cid-3-start-0.html
(You need to be a registered member, and need to be logged-in)
Sir,
As I am going for higher studies in India, I am withdrawing my PF for the last two years which is being taxed. I only have two years and 9 months of work experience.
Can you please let me know the TAX bracket for TDS deducted. Is for this year or the year for which PF belongs to?
Could you please let me know If I can continue this PF account as dormant for 2-years and get it transfered one’s i join a new company post completion of my studies.
Thanking you in anticipation.
Hi Kumar,
There is no separate tax slabs for TDS. TDS is done depending on your tax liability of the particular financial year.
Since you are withdrawing the PF this year, the tax brackets of this year would apply.
If your company has a private PF trust, it may not allow you to continue the PF account dormant. Otherwise, it should be possible.
please send me ITR-1 form for assessment year2009-2010
Hi Amar Kumar,
The ITR forms for AY 2009-10 have not been notified yet. Till then, the old ITR forms can be used.
You can download them from the article “Income Tax (IT) Return Filing – Which ITR form to use?“.
Hi
Good Job.
I would like to know what is the wait period of recieving refund for AY 2007-08. had got the Notice U/s 143(1) to pay tax where they had not taken the TDS i have already paid. hence wrote back to them giving the details. This letter I have sent in first week of March to them. so when should i expect a reply for the same.
Thanks
Monica
Hi Monica,
As I have previously mentioned, there is no fixed duration – the time for getting a refund depends on the time taken to process your return, which in turn might depend on the load on that particular income tax office.
Hi Neha,
From my experience, I can say that there is no fixed duration – the time for getting a refund depends on the time taken to process your return, which in turn might depend on the load on that particular income tax office.
Hi,
Till date Form no.17 not available in side. can you check and send to us.
hi to all
benefit for disabled employee. can any one help me?
help in calculating tax. any tax benefit for disabled employee? where can i find?
Hi,
I am working for an IT Company, I have one fixed deposit of amount 100000/- in SBI 1000 days scheme.
Will i get any tax savings for the same?, if I am submitting the details of this investment to the company?
Kindly clarify.
Dear sir,
Please send me challan form 17 in our email we may so that deposit tds for month of april
Hoping for a favourable response from your side
Thanks & Regards
Hi sir,
Form 17 means challan for TDS/TCS Deposite in bank through e-Net.
can you provide form no. 17 in my above mail immediately.
for F.Y. 2008-09 what is the exemption limit of conveyance/ transport allownce ? Please give relevant details
regards,
SH. Z
Hi Atanu,
Unfortunately, I can not provide a filled up ITR. Sorry!
Hi Dileep,
Only certain fixed deposits having a maturity of 5 years or more quality for tax benefits under section 80C.
Since your FD doesn’t satisfy this condition, you wouldn’t be able to claim any tax benefit.
Please check out Fixed Deposits (FD) for saving income tax through section 80C to learn more about tax saving FDs.
Hi Rachna,
I am sorry, but I wouldn’t be able to help you. Please check out my earlier answers to comments.
Dear sir,
Please send me challan form 17 in our email we may so that deposit tds for month of april
Hoping for a favourable response from your side
Thanks & Regards
Aggarwal Petrochem
sanjay Aggarwal
Hi Sanjay and Ajay,
My experience is with personal finance – I deal with financial situations faced by individuals. Since depositing TDS / TCS is done by companies, I do not know much about it.
Sorry, wouldn’t be able to help you!
Hi Zamir,
Conveyance facility provided by the employer (car / cab / bus / etc) is completely tax free for you.
If you are getting an allowance, it is tax free upto Rs. 800 per month / Rs. 9,600 per year.
Hi Bhuvnesh,
My experience lies in personal finance – so I deal with financial situations faced by individuals.
I do not know much about depositing TDS / TCS, as it is done by companies.
Sorry, wouldn’t be able to help you there!
Could you give me one example of income tax return filling for and individual salaried in a standard format.
Sir,
My income is under examption limit i.e. 150000/- p.a
I have to submit return for nil tax liability, so send me format of return. ITR 1 or ITR 2
Dear Sir,
I have leased my land to M/s BPCL for rental of Rs. 19500/month(rs. 234000pa) They have been doing TDS at 15.45 % (15 % + 3%) on the rental. I have no other income. I have also saved Rs. 54000 u/s 80c. Being a women, my tax liability is nill. Which IT form do I need to fill to get the refund ?.
Hi Brinda,
If letting out the land on rent is your business, the income is “income from business and profession”. You would need to file ITR4 in this case.
If you are not doing it as a business, it is “other income” for you, and you can file ITR1.
Hi Pranab,
If her income is below the threshold, she is not required to file a return.
My wife is not working now & her income is below 180000/- & I want to know whether she has to file retun or not. Last tax year she has submitter the return because during that period she was working.
Dear Sir,
I would like to know about the tax on bonus (Yearly Rs 50000 ).My CTC is ( 6.5 L p.a which includes bonus & all other allowances). But the issue , they have deducted 30 % of the bonus ( = 15000).I have got only 35000 .
I have investments up to 1 Lakh under 80C .TDS deduction every month is Rs 4000 approximately( excluding Bonus part).Could you please let me know why did they deduct 30 % in the bonus amount ? Is there any guidelines from Government regarding the tax on bonus?
Dear Sir,
I am working as a an employee in an organisations from F.Y. 2006. The company is deduct excess TDS in the F. Y. 2006-07 on which they paid salary to me. The amount around (Refund) Rs. 21000/- as per Form – 16. I am not filing the IT returns from A. Y. 2007-08. Can i file this IT Return now? How can i approach to file this ITR for A.Y. 2007-08, Is there any specified format? Pls. give your advise. Thanking you.
Regards,
Srinivas
My salary for 2008-2009 was 14,000 but i had to file IT return as there was TDS of 1400 which i had to get refunded. The filing was done online and the hardcopy of ITR-V was sent to bangalore. The status on website shows that ITR-V was received at Banglore in July-2009. But so far, i have not received refund. Yesterday i accessed the Tax information Network and it shows the TDS but refund is shown NIL. Please advise on how to get my refund.
My Income is Rs . 261994.00 For The Yaer Ended Mar -08
Plase My Tax Liablities
Thank
does filing return becomes compulsory after obtaining pan card even though the income is below the 1.6 lakhs p.a ?
thank you
i m dr niraj, resident doctor. i receive Rs. 20000 per month as stipend from state goverment. is this amount taxable? should i file return?
Hi Shankar,
No, just having a PAN card doesn’t make tax return filing compulsory. You have to file ONLY if your income is above the threshold.
So, you can relax!
Dear Sir,
Request to give me ITR-1 IN EXCEL FORMAT FY 2010-11 (Salary Person) and also give me TDS rate all deductee FY 2011-12
Hoping for a favourable response from your end
Thanks & Regards