Income tax rate for the financial year 2011-12

You all must have known about the new income tax rate after union budget 2011. We are posting income tax rate for the financial year 2011-12 and for the assessment year 2012-2013 for your reference.This time a new tax catogary has  been added for the benefit of individual whos is 80 or above.

Income tax rate for individual ,Hindu undivided family or association of persons or body of individuals ,

	Income tax slab	Rate of income tax
1	Income up to Rs 180000	Nil
2	Rs 180000 to 500000	10 % of the amount after  Rs 180000
3	Rs 500000 to Rs 800000	Rs 32000+20 % on the amount  after Rs 500000
4	800000 and above	Rs 92000+30 % on the amont after Rs 800000

Every individual being a women resident in india and below the age of sixy years at any time during the previous year

	Income tax slab	Rate of income tax
1	Income up to Rs 190000	Nil
2	Rs 190000 to 500000	10 % of the amount after  Rs 190000
3	Rs 500000 to Rs 800000	Rs 31000+20 % on the amount  after Rs 500000
4	800000 and above	Rs 91000+30 % on the amont after Rs 800000

Every individual being resident in india , who is of the age of sixty years or more but less than eighty years

	Income tax slab	Rate of income tax
1	Income up to Rs 250000	Nil
2	Rs 250000 to 500000	10 % of the amount after  Rs 250000
3	Rs 500000 to Rs 800000	Rs 25000+20 % on the amount  after Rs 500000
4	800000 and above	Rs 85000+30 % on the amont after Rs 800000

Individual , being a resident in india , who is of the age of eighty years or more at any time during previous year

more but less than eighty years

	Income tax slab	Rate of income tax
1	Income up to Rs 500000	Nil
3	Rs 500000 to Rs 800000	20 % on the amount  after Rs 500000
4	800000 and above	Rs 60000+30 % on the amont after Rs 800000

Income tax of Co-operative society for the financial year 2011-12

	Income tax slab	Rate of income tax
1	Income up Rs 10000	10% of total income
3	Above Rs 10000 to up to Rs 20000	Rs 1000+ 20 %  of income above 10000
4	20000 and above	Rs 3000+ 30 %  of income above 20000

Income tax rate of partnership firm for the financial year 2011-12

	Income tax slab	Rate of income tax
1	On total income	30% on total income

Income tax rate of Local authority for the financial year 2011-12

	Income tax slab	Rate of income tax
1	On total income	30% on total income

Income tax rate for companies for the financial year 2011-12

	Income tax slab	Rate of income tax
1	In case of domestic company	30% on total income
2	Case of a company other than a domestic company-  i. on so much of the total income as consist of- (a)royalties received from government or an indian concern in pursuance of an agreement made by it with the government or the indian  concern after 31st day of march . 1961 but before the 1 st day of april 1976 or (b)fees for rendering technical servicesreceived from government or an indian concern in pursuance of an agreement made by it with the governenment or the indian concern after the 29th day of february 1964 but  before the 1st day of april 1976 And where such agreement  has , in either case, been approved by central government ii.  on the balance , if any , of the total income	50 % 40%

Related posts:

1. Income tax rate – financial year 2010-2011 after budget
2. Assessee,Assessment year,Previous year understanding the concept
3. Income tax rates in India 2009-10