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Check Income Tax Slabs & Rates For Current Financial Year (FY)

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The income tax slabs / brackets and the income tax rates changes every year. Knowing Income tax slab for the current year helps us evaluate our income tax liability for the year. The slabs for men, women and senior citizens are also defined separately by the income tax (IT) department. Lets have a details of the applicable income tax slabs and income tax rates for the current financial year as well as for the earlier financial years.

Income tax

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Income Tax (IT) Slabs For The Financial Year (FY) 2012-13, Assessment Year (AY) 2013-14

RATE MEN / WOMEN SENIOR CITIZENS
(60 TO 80 YEARS)
Very Senior Citizens
(80 YEARS And ABOVE)
0% Upto 2,00,000 Upto 2,50,000 Upto 5,00,000
10% 2,00,001 – 5,00,000 2,50,000-5,00,000 NIL
20% 5,00,001 – 10,00,000 5,00,000-10,00,000 5,00,000-10,00,000
30% 10,00,001 – Above 10,00,000 – Above 10,00,000-Above

* Education and other cess will be applicable as per the income tax rules for the assessment year 2013-14

Income Tax (IT) Slabs For The Financial Year (FY) 2011-12, Assessment Year (AY) 2012-13

RATE MEN WOMEN SENIOR CITIZENS
(60 TO 80 YEARS)
VERY SENIOR CITIZENS
(ABOVE 80 YERRS)
0% Upto 1,80,000 Less than 1,90,000 Less than 2,50,000 Less than 5,00,000
10% 1,80,001 – 5,00,000 1,90,001 – 5,00,000 2,50,001 – 5,00,000 NA
20% 5,00,001 – 8,00,000 5,00,001 – 8,00,000 5,00,001 – 8,00,000 5,00,001 – 8,00,000
30% 8,00,001 – Above 8,00,001 – Above 8,00,001 – Above 8,00,001 – Above

* Education and other cess will be applicable as per the income tax rules for the assessment year 2012-13

Income Tax (IT) Slabs For The Financial Year (FY) 2010-11, Assessment Year (AY) 2011-12
RATE( %) MEN WOMEN SENIOR CITIZENS
0 Less than 1,60,000 Less than 1,90,000 Less than 2,40,000
10 1,60,001 – 5,00,000 1,90,001 – 5,00,000 2,40,001 – 5,00,000
20 5,00,001 – 8,00,000 5,00,001 – 8,00,000 5,00,001 – 8,00,000
30 8,00,001 – Above 8,00,001 – Above 8,00,001 – Above

* An education cess of 3% is applicable on income tax payable for every income tax assesse

Income Tax (IT) Slabs For The Financial Year (FY) 2009-10, Assessment Year (AY) 2010-11
RATE( %) MEN WOMEN SENIOR CITIZENS
0 Less than 1,60,000 Less than 1,90,000 Less than 2,40,000
10 1,60,001 – 3,00,000 1,90,001 – 3,00,000 2,40,001 – 3,00,000
20 3,00,001 – 5,00,000 3,00,001 – 5,00,000 3,00,001 – 5,00,000
30 5,00,001 – Above 5,00,001 – Above 5,00,001 – Above

* An education cess of 3% is applicable on income tax payable for every income tax assesse

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Income Tax (IT) Slabs For The Financial Year (FY) 2008-09, Assessment Year (AY) 2009-10

RATE( %) MEN WOMEN SENIOR CITIZENS
0 Less than 1,50,000 Less than 1,80,000 Less than 2,25,000
10 1,50,001 – 3,00,000 1,80,001 – 3,00,000 2,25,001 – 3,00,000
20 3,00,001 – 5,00,000 3,00,001 – 5,00,000 3,00,001 – 5,00,000
30 5,00,001 – Above 5,00,001 – Above 5,00,001 – Above

*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.

Income Tax (IT) Slabs For The Financial Year (FY) 2007-08, Assessment Year (AY) 2008-09
RATE( %) MEN WOMEN SENIOR CITIZENS
0 Less than 1,10,000 Less than 1,45,000 Less than 1,95,000
10 1,10,001 – 1,50,000 1,45,001 – 1,50,000 NA
20 1,50,001 – 2,50,000 1,50,001 – 2,50,000 1,95,001 – 2,50,000
30 2,50,001 – Above 2,50,001 – Above 2,50,001 – Above

 

For more information related to your Income Tax Visit http://financeminister.in/

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