PERSONAL INCOME-TAX RATES APPLICABLE FROM THE YEAR 2011

 The Direct Taxes Code Bill, 2010 is proposed to be implemented from the year 2011.

Increase in the income tax threshold limit 

For Individual (Male and Female) 

Slab of Income (Rs.)                                  Rate of Tax (%)

Up to Rs 2,00,000                                         NIL

2,00,001 - 5,00 ,000                                     10%

5,00,001 - 10,00 ,000                                   20%

10,00,001 and above                                        30%

For Senior Citizen

Slab of Income (Rs.)                                  Rate of Tax (%)

Up to Rs 2,50,000                                         NIL

2,50,001 - 5,00 ,000                                     10%

5,00,001 - 10,00 ,000                                   20%

10,00,001 and above                                        30%