IT Slab for the Financial Year 2011-12
Finance Minister Prnab Mukharjee yesterday presented Union Budget 2011-12. The good news for the employees is that there will be a increase in tax exemption limit.
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The New tax exemption limit is 1.8 Lakhs.
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There is no change in tax slab for women
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For senior citizen the the tax exemption limit is 2.5 Lakhs.
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For senior citizen above 80 years, the tax exemption limit is Rs 5 Lakhs.
Revised Tax slab for FY. 2011-12
Tax Rates for individuals other than resident women & senior citizens for the year 2010-11
| NET INCOME | INCOME TAX RATES | EDUCATION CESS |
| Upto Rs 1,80,000 | NIL | NIL |
| Rs 1,80,000 to 5,00,000 | 10% of annual income exceeds 1,80,000 | 3% of Income Tax |
| Rs 5,00,001 to 8,00,000 | Rs 32,000 plus 20% of the amount exceeds Rs 5,00,000 | 3% of Income Tax |
| Above 8,00,000 | Rs 92,000 plus 30% of the amount exceeds 8,00,000 | 3% of Income Tax |
Tax Rates for resident women
| NET INCOME | INCOME TAX RATES | EDUCATION CESS |
| Upto Rs 1,90,000 | NIL | NIL |
| Rs 1,90,000 to 5,00,000 | 10% of annual income exceeds 1,90,000 | 3% of Income Tax |
| Rs 5,00,001 to 8,00,000 | Rs 31,000 plus 20% of the amount exceeds Rs 5,00,000 | 3% of Income Tax |
| Above 8,00,000 | Rs 91,000 plus 30% of the amount exceeds 8,00,000 | 3% of Income Tax |
Tax Rates for senior citizens (Age above 60 and below 80)
| NET INCOME | INCOME TAX RATES | EDUCATION CESS |
| Upto Rs 2,50,000 | NIL | NIL |
| Rs 2,50,000 to 5,000,00 | 10% of annual income exceeds 2,40,000 | 3% of Income Tax |
| Rs 5,00,001 to 8,00,000 | Rs 25,000 plus 20% of the amount exceeds Rs 3,00,000 | 3% of Income Tax |
| Above 8,00,000 | Rs 85,000 plus 30% of the amount exceeds 8,00,000 | 3% of Income Tax |
Tax Rates for Senior Citizens above the Age of 80
| NET INCOME | INCOME TAX RATES | EDUCATION CESS |
| Upto Rs 5,00,000 | NIL | NIL |
| Rs 5,00,001 to 8,00,000 | Rs 25,000 plus 20% of the amount exceeds Rs 3,00,000 | 3% of Income Tax |
| Above 8,00,000 | Rs 85,000 plus 30% of the amount exceeds 8,00,000 | 3% of Income Tax |
Share with the world !!
should have been 2 lacs instead of 1.8
For benefit of C and D group employees, the income tax slab should be increase from 1.8 to 2.20.
Some IT benefit should have been extended for the salaried people who are compelled to stay away from his own family & Home and maintaining Double establishment.
File your Income Tax return for Rs. 250 only
You have to only provide Form 16, rest will be handled by our Tax Experts.
eFile your tax return with help of our Tax Experts (Chartered Accountants and Certified Financial Planner) with no time.
Tax filing by Professionals in a easy manner:
• Simple, Hassle free, Time efficient.
• No need to understand complicated Income Tax Software.
• No need to understand Income Tax Technical Terms.
• Only have to provide Form 16.
• Cross checking of your TDS entries with 26AS form.
• Return prepared by Tax Experts.
• e filing of your return by Tax Experts
Charges for the services are
Salary eFile Silver Rs.250 (Only Salary Income)
Salary eFile Silver Plus Rs.400 (Salary income plus Capital Gain Transactions)
Benefits of eFiling of Income Tax Return :
• Quick, Easy, error free
• Any Time Any Where
• Fast Refunds
• Paperless, Environment Friendly
Contact Meenakshi 07206081497
File your Income Tax return for Rs. 250 only
You have to only provide Form 16, rest will be handled by our Tax Experts.
eFile your tax return with help of our Tax Experts (Chartered Accountants and Certified Financial Planner) with no time.
Tax filing by Professionals in a easy manner:
• Simple, Hassle free, Time efficient.
• No need to understand complicated Income Tax Software.
• No need to understand Income Tax Technical Terms.
• Only have to provide Form 16.
• Cross checking of your TDS entries with 26AS form.
• Return prepared by Tax Experts.
• e filing of your return by Tax Experts
Charges for the services are
Salary eFile Silver Rs.250 (Only Salary Income)
Salary eFile Silver Plus Rs.400 (Salary income plus Capital Gain Transactions)
Benefits of eFiling of Income Tax Return :
• Quick, Easy, error free
• Any Time Any Where
• Fast Refunds
• Paperless, Environment Friendly
Contact Meenakshi 07206081497