What is the rate of tax of male individual for the assessment year 2011 12?
What is the rate of tax of male individual for the assessment year 2011 12?
Income Tax Rate for FY 2011-12 or AY 2012-13
| Tax rate | Men | Very senior Citizen (Age above 80) |
|---|---|---|
| Nil | 180000 | 500000 |
| 10% | 180001 to 500000 | – |
| 20% | 500001 to 800000 | 500001 to 800000 |
| 30% | Above 800000 | Above 800000 |
What is current slab rate in income tax?
12,500 + 20% of total income exceeding 5,00,000. Above 10,00,000. 1,12,500 + 30% of total income exceeding 10,00,000. Income Tax Slab. Senior Citizens (aged 60 years but less than 80 years)
How is slab rate calculated?
Medical insurance premium of Rs 12,000….How to Calculate Income Tax as Per IT Slab.
| Range | Tax Rates | Tax Amount |
|---|---|---|
| From Rs 2,50,000 to Rs 5,00,000 | 5% | 12,500 (5% of (Rs 5,00,000-Rs 2,50,000)) |
| From Rs 5,00,000 to Rs 10,00,000 | 20% | 42,560 (20% of(Rs7,12,000- Rs 5,00,000)) |
| More than Rs 10,00,000 | 30% | Nil |
| Cess | 4% | 2202.4 (4% of(( Rs 12,500+Rs 42,560)) |
What is the income tax slab for 2020/21 in India?
Income tax slab rate applicable for New Tax regime – FY 2020-21.
| Income Tax Slab | New Regime Income Tax Slab Rates FY 2020-21 (Applicable for All Individuals & HUF) |
|---|---|
| Rs. 5.00 lakhs- Rs 7.5 Lakhs | 10% |
| Rs 7.5 lakhs – Rs 10.00 Lakhs | 15% |
| Rs 10.00 lakhs – Rs. 12.50 Lakhs | 20% |
| Rs. 12.5 lakhs- Rs. 15.00 Lakhs | 25% |
What is the income tax slab for AY 2020-21?
New Income Tax Slab for FY 2020-21 & AY 2021-22
| Annual Income | New Tax Regime | Old Tax Regime |
|---|---|---|
| Rs.5 lakh – Rs.7.5 lakh | 10% | 20% |
| Rs.7.5 lakh – Rs.10 lakh | 15% | 20% |
| Rs.10 lakh – Rs.12.5 lakh | 20% | 30% |
| Rs.12.5 lakh – Rs.15 lakh | 25% | 30% |
Which is the tax slab for FY 2010-11?
Tax slab for FY 2010-11 (AY 2011-12) Particulars Slab Tax Rate. Women assesses Up to 1,90,000 Nil. From 1,90,001 to 5,00,000 10%. From 5,00,001 to 8,00,000 20%.
Are there any tax surcharges in FY 2011-12?
There will be no surcharge on income tax payments by individual taxpayers during FY 2011-12 (AY 2012-13). Education Cess on Income tax: The amount of income-tax shall be increased by Education Cess on Income Tax at the rate of two percent of the income-tax.
Which is the tax rate for HUF 2011-12?
The rates for Assessment year 2011-12 is given in the table below.These rates are applicable on Individual assessee, Hindu undivided Family (HUFs) ,Association of persons (AOP) and Body of Individuals (BOI).
Which is the additional exemption limit for FY 2011-12?
Further, in the FY 2011-12 (AY 2012-13) men assessees will also get additional basic exemption limit of Rs. 20,000 i.e. the limit extends from Rs. 1,60,000 to Rs. 1,80,000. Additional deduction of Rs. 20,000 under section 80CCF for investment in long-term infrastructure bonds is available for financial year 2010-11 as well for FY 2011-12.