| The Income Tax Rates and Income Slabs as per the Finance Bill 2011, are as follows. These rates are applicable to Assessment Year 2012-13 (Financial Year 2011-12) |
| Income Tax Slab for Men (age less than 60 years) |
| Income Level or Income Slab (in Rs.) |
Tax Rate |
| 0 -to- 1,80,000 |
Exempt |
| 1,80,001 -to- 5,00,000 |
10% |
| 5,00,001 -to- 8,00,000 |
20% |
| Above 8,00,000 |
30% |
| Income Tax Slab for Women (age less than 60 years) |
| Income Level or Income Slab (in Rs.) |
Tax Rate |
| 0 -to- 1,90,000 |
Exempt |
| 1,90,001 -to- 5,00,000 |
10% |
| 5,00,001 -to- 8,00,000 |
20% |
| Above 8,00,000 |
30% |
| Slab of Income Tax for Senior Citizen (age 60 years or above) |
| Income Level or Income Slab (in Rs.) |
Tax Rate |
| 0 -to- 2,50,000 |
Exempt |
| 2,50,001 -to- 5,00,000 |
10% |
| 5,00,001 -to- 8,00,000 |
20% |
| Above 8,00,000 |
30% |
| Income Tax Slab for Super Senior Citizen (age 80 years or above) |
| Income Level or Income Slab (in Rs.) |
Tax Rate |
| 0 -to- 5,00,000 |
Exempt |
| 5,00,001 -to- 8,00,000 |
20% |
| Above 8,00,000 |
30% |
