Income tax slab in India For the Year 2011-2012

The latest income tax slab rates for the assesment Year 2011-2012. This tax table based upon the latest income tax slab is a good reference for calculating the income tax for year 2011-12.

Base slab for common tax payers hiked to 1.8 lakh from original 1.6 lakh.Senior citizen age reduced to 60 years from 65 years. Senior citizen definition is also expanded by including the people between 60 and 80 years. Also increased the base slab for senior citizen to 2.5 lakh from previous years 2.4 lakh
This new category called "Very Senior citizen" added for people above 80 years.


Income tax slabs 2011-2012 for General tax payers


Income tax slab (in Rs.).................Tax


0 to 1,80,000...................................No tax


1,80,001 to 5,00,000........................10%


5,00,001 to 8,00,000........................20%


Above 8,00,000...............................30%


Income tax slabs 2011-2012 for Women


Income tax slab (in Rs.)..................Tax


0 to 1,90,000...................................No tax


1,90,001 to 5,00,000.......................10%


5,00,001 to 8,00,000.......................20%


Above 8,00,000...............................30%


Income tax slabs 2011-2012 for Senior citizen (Aged 60 years but less than 80 years)


Income tax slab (in Rs.)..................Tax


0 to 2,50,000...................................No tax


2,50,001 to 5,00,000........................10%


5,00,001 to 8,00,000........................20%


Above 8,00,000...............................30%


Income tax slabs 2011-2012 for Very Senior citizen (Above 80 years)


Income tax slab (in Rs.)..................Tax


0 to 5,00,000.....................................0%


5,00,001 to 8,00,000........................20%


Above 8,00,000...............................30%