Income Tax 2010-11

Income Tax 2010-11 Slabs 

 

Annual Income IT Rate
Up to Rs.1,60,000
Up to Rs.1,90,000 (for women)
Up to Rs.2,40,000 (for resident individual of 65 years or above)
Nil
Rs.1,60,001 – Rs.5,00,000 10%
Rs.5,00,001 – Rs.8,00,000 20%
Rs.8,00,001 upwards 30%

  

A deduction of an additional amount of Rs.20,000 for investment in long term infrastructure bonds as notified by the Central Government. This would be over and above the existing limit of Rs.1 lakh on tax savings under 80C.  

 

Schemes eligible for Section 80C benefits

  • PPF

  • ELSS - Mutual Funds

  • NSC

  • KVP

  • Life Insurance

  • Senior Citizen Saving Scheme 2004

  • Post Office Time Deposit Account

 

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