Source: http://www.itaxindia.org/2011_08_01_archive.html
Timestamp: 2017-07-21 06:37:02
Document Index: 479370478

Matched Legal Cases: ['art 12', 'ART 2011', 'ART 2011', 'ART 2011', 'ART 2011', 'art 11', 'art 12', 'art 11', 'art 11', 'art 12', 'art 12', 'art 12', 'art 2011', 'art 2011', 'art 2011']

August 2011 ~ Income Tax India
DEDUCTION UNDER SECTION 80C,80CCD,80CCC,80CCF ELIGIBLE SCHEME LIFE INSURANCE ,PPF ,PF,NSC DETAILS
In computing the taxable income of the individual, the following deductions under section-80C, 80CCC, 80CCD , 80CCE of the Act are to be allowed from his gross total income:A. As per section 80C, an employee will be entitled to deductions for the whole of amounts paid or deposited in the current financial year in the following schemes, subject to a limit of Rs.1,00,000/-:
It may be clarified that the amount of premium or other payment made on an insurance policy [other than a contract for deferred annuity mentioned in sub-para (2)] shall be eligible for deduction only to the extent of 20 percent of the actual capital sum assured. In calculating any such actual capital sum, the following shall not be taken into account: the value of any premiums agreed to be returned, or
any benefit by way of bonus or otherwise over and above the sum actually assured which may be received under the policy.
Any payment made to effect or to keep in force a contract for a deferred annuity, not being an annuity plan as is referred to in item (7) herein below on the life of the individual, the spouse or any child of the individual, provided that such contract does not contain a provision for the exercise by the insured of an option to receive a cash payment in lieu of the payment of the annuity;
Any sum deducted from the salary payable by, or, on behalf of the Government to any individual, being a sum deducted in accordance with the conditions of his service for the purpose of securing to him a deferred annuity or making provision for his spouse or children, in so far as the sum deducted does not exceed 1/5th of the salary;
Any contribution made :
(b) to any provident fund set up by the Central Government, and notified by it in this behalf in the Official Gazette, where such contribution is to an account standing in the name of an individual, or spouse or children ;[The Central Government has since notified Public Provident Fund vide Notification S.O. No. 1559(E) dated 3.11.05.
(d) by an employee to an approved superannuation fund;It may be noted that "contribution" to any Fund shall not include any sums in repayment of loan;
(5) Any subscription :-(a) to any such security of the Central Government or any such deposit scheme as the Central Government may, by notification in the Official Gazette, specify in this behalf;(b) to any such saving certificates as defined under section 2(c) of the Government Saving Certificate Act, 1959 as the Government may, by notification in the Official Gazette, specify in this behalf.[The Central Government has since notified National Saving Certificate (VIIIth Issue) vide Notification S.O. No. 1560(E) dated 3.11.05.]
Any sum paid as contribution in the case of an individual, for himself, spouse or any child,a. for participation in the Unit Linked Insurance Plan, 1971 of the Unit Trust of India;b. for participation in any unit-linked insurance plan of the LIC Mutual Fund referred to in clause (23D) of section 10 and as notified by the Central Government.[The Central Government has since notified Unit Linked Insurance Plan (formerly known as Dhanraksha, 1989) of LIC Mutual Fund vide Notification S.O. No. 1561(E) dated 3.11.05.]
Any subscription made to effect or keep in force a contract for such annuity plan of the Life Insurance Corporation or any other insurer as the Central Government may, by notification in the Official Gazette, specify;[The Central Government has since notified New Jeevan Dhara, New Jeevan Dhara-I, New Jeevan Akshay, New Jeevan Akshay-I and New Jeevan Akshay-II vide Notification S.O. No. 1562(E) dated 3.11.05 and Jeevan Akshay-III vide Notification S.O. No. 847(E) dated 1.6.2006 ]
Any subscription made to any units of any Mutual Fund, referred to in clause(23D) of section 10, or from the Administrator or the specified company referred to in Unit Trust of India (Transfer of Undertaking & Repeal) Act, 2002 under any plan formulated in accordance with any scheme as the Central Government, may, by notification in the Official Gazette, specify in this behalf;[The Central Government has since notified the Equity Linked Saving Scheme, 2005 for this purpose vide Notification S.O. No. 1563(E) dated 3.11.2005]The investments made after 1.4.2006 in plans formulated in accordance with Equity Linked Saving Scheme, 1992 or Equity Linked Saving Scheme, 1998 shall also qualify for deduction under section 80C.
Any contribution made by an individual to any pension fund set up by any Mutual Fund referred to in clause (23D) of section 10, or, by the Administrator or the specified company referred to in Unit Trust of India (Transfer of Undertaking & Repeal) Act, 2002, as the Central Government may, by notification in the Official Gazette, specify in this behalf;[The Central Government has since notified UTI-Retirement Benefit Pension Fund vide Notification S.O. No. 1564(E) dated 3.11.05.]
Any subscription made to any such deposit scheme, as the Central Government may, by notification in the Official Gazette, specify for the purpose of being floated by (a) public sector companies engaged in providing long-term finance for construction or purchase of houses in India for residential purposes, or, (b) any authority constituted in India by, or, under any law, enacted either for the purpose of dealing with and satisfying the need for housing accommodation or for the purpose of planning, development or improvement of cities, towns and villages, or for both.[The Central Government has since notified the Public Deposit Scheme of HUDCO vide Notification S.O. No.37(E), dated 11.01.2007, for the purposes of Section 80C(2)(xvi)(a)].
Any sums paid by an assessee for the purpose of purchase or construction of a residential house property, the income from which is chargeable to tax under the head "Income from house property" (or which would, if it has not been used for assessee's own residence, have been chargeable to tax under that head) where such payments are made towards or by way of any instalment or part payment of the amount due under any self-financing or other scheme of any Development Authority, Housing Board etc.The deduction will also be allowable in respect of re-payment of loans borrowed by an assessee from the Government, or any bank or Life Insurance Corporation, or National Housing Bank, or certain other categories of institutions engaged in the business of providing long term finance for construction or purchase of houses in India. Any repayment of loan borrowed from the employer will also be covered, if the employer happens to be a public company, or a public sector company, or a university established by law, or a college affiliated to such university, or a local authority, or a cooperative society, or an authority, or a board, or a corporation, or any other body established under a Central or State Act.
The stamp duty, registration fee and other expenses incurred for the purpose of transfer shall also be covered. Payment towards the cost of house property, however, will not include, admission fee or cost of share or initial deposit or the cost of any addition or alteration to, or, renovation or repair of the house property which is carried out after the issue of the completion certificate by competent authority, or after the occupation of the house by the assessee or after it has been let out. Payments towards any expenditure in respect of which the deduction is allowable under the provisions of section 24 of the Income-tax Act will also not be included in payments towards the cost of purchase or construction of a house property.
Subscription to any units of any mutual fund referred to in clause (23D) of Section 10 and approved by the Board, if the amount of subscription to such units is subscribed only in eligible issue of capital of any company.
Investment as a term deposit for a fixed period of not less than five years with a scheduled bank, which is in accordance with a scheme framed and notified by the Central Government, in the Official Gazette for these purposes.[The Central Government has since notified the Bank Term Deposit Scheme, 2006 for this purpose vide Notification S.O. No. 1220(E) dated 28.7.2006]
Any investment in an account under the Senior Citizens Savings Scheme Rules, 2004.
B. As per section 80CCC, where an assessee being an individual has in the previous year paid or deposited any amount out of his income chargeable to tax to effect or keep in force a contract for any annuity plan of Life Insurance Corporation of India or any other insurer for receiving pension from the Fund referred to in clause (23AAB) of section 10, he shall, in accordance with, and subject to the provisions of this section, be allowed a deduction in the computation of his total income, of the whole of the amount paid or deposited (excluding interest or bonus accrued or credited to the assessee's account, if any) as does not exceed the amount of one lakh rupees in the previous year.Where any amount paid or deposited by the assessee has been taken into account for the purposes of this section, a rebate/ deduction with reference to such amount shall not be allowed under section 88 up to assessment year 2005-06 and under section 80C from assessment year 2006-07 onwards.C. As per the provisions of section 80CCD, where an assessee, being an individual employed by the Central Government on or after the 1st day of January, 2004, has in the previous year paid or deposited any amount in his account under a pension scheme as notified vide Notification No. F.N. 5/7/2003- ECB&PR dated 22.12.2003, he shall be allowed a deduction in the computation of his total income, of the whole of the amount so paid or deposited as does not exceed ten per cent of his salary in the previous year.
The benefit of new pension scheme has been extended to any other employees (also self employed person) w.r.e.f 1/04/09 and deduction is allowed to employees upto 10% of salary in the previous year and in other cases upto 10% of his gross total income in the previous year. Further it has been specified that w.r.e.f 1/04/09 any amount received by the assessee from the new pension scheme shall be deemed not to have received in the previous year if such amount is used for purchasing an annuity plan in the previous year.
It may be noted that the contribution made by the Central Government or any other employer, towards a pension scheme notified for section 80 CCD, shall be allowed as deduction in the computation of total income of the employee to the extent that it does not exceed ten percent of employee's salary. W.e.f. 01.04.2011 (FY 2011-12), the amount of deduction so allowed shall be outside the overall limit of Rs one lakh under section 80CCE of the Income Tax Act, 1961. It is therefore, clarified that contribution made by an employee alone will be eligible to deduction limit of upto Rs.one lakh. The contribution made by the Central Government or any other employee to a pension scheme u/s 80CCD(2) shall be excluded from the limit of one lakh rupees provided under Section 80CCE.
Where any amount standing to the credit of the assessee in his account under such pension scheme, in respect of which a deduction has been allowed as per the provisions discussed above, together with the amount accrued thereon, if any, is received by the assessee or his nominee, in whole or in part, in any financial year,—(a) on account of closure or his opting out of such pension scheme; or(b) as pension received from the annuity plan purchased or taken on such closure or opting out,the whole of the amount referred to in clause (a) or clause (b) above shall be deemed to be the income of the assessee or his nominee, as the case may be, in the financial year in which such amount is received, and shall accordingly be charged to tax as income of that financial year.
For the purposes of deduction under section 80CCD, "salary" includes dearness allowance, if the terms of employment so provide, but excludes all other allowances and perquisites.
The aggregate amount of deduction under sections 80C, 80CCC and sub section (1) of Section 80CCD shall not exceed Rs.1,00,000/- (Section 80CCE)
D. A new section 80CCF has been inserted by the Finance Act, 2010, wef 01.04.2011. The section 80CCF provides for deduction available to an individual or a HUF, the whole of the amount, to the extent such amount does not exceed Rs 20,000, paid or deposited during financial year 2010-11, as subscription to long-term infrastructure bonds as notified by the Central Govt for the purpose of this section.(Board Notification no 48/2010 dated 09.09.2010)Deduction under this section can not exceed Rs 20,000 and are available only for current financial year 2011-12. The deduction under this section will be in addition to overall limit of deduction of upto Rs one lakh under section 80C, 80CCC and sub section (1) of Section 80 CCD.
HOW TO DOWNLOAD FORM 16A FROM TIN NSDL SITE
For deduction of tax at source made on or after 01/04/2011:
The deductor, being a company including a banking company to which the Banking Regulation Act,1949 applies and any bank or banking institution, referred to in section 51 of that Act or a co-operative society engaged in carrying the the business of banking, shall issue TDS certificate in Form No.16A generated through TIN central system and which is downloaded from the TIN Website with a unique TDS certificate number in respect of all sums deducted on or after the 1st day of April, 2011 under any of the provisions of Chapter-XVII-B other than section 192
The deductor, being a person other than the person referred to in item (a) above, may, at his option, issue TDS Certificate in Form No.16A generated through TIN central system and which is downloaded from the TIN Website with a unique TDS certificate number in respect of all sums deducted on or after the 1st day of April, 2011 under any provisions of Chapter-XVII-B other than section 192
HOW TO REGISTER TAN AT TIN NSDL -DOWNLOAD ETDS FVU FILE
If you are a deductor of tax and liable to file E-TDS return than TAN registration is MUST for you .It is very beneficial to get your tan registered at TIN-NSDL site.After registration you may avail following facilities.
you can download consolidated FVU for etds return filled.
You can check processing of ETDS return filed earlier and can get list of defaults in returns.
you can upload 15CA details.
You can download Form 16A(compulsory for banks/Companies to download 16A from Tin-NSDL site) Procedure of Filling Service Tax Return Electronically
W.e.f. 1.10.2011, all the assessees are mandatorily required to file their return electronically irrespective of amount of service tax they have paid during the previous F/Y, in terms of Notification No. 43/2011-ST dated 25.08.2011. For this, one has to follow the procedure as follows:-
(A) Get Registered with ACES
Fill the “ACES DECLARATION FORM” available on the website www.servicetaxdelhi.gov.in and deposit it with the concerned Range Superintendent;
Please ensure to fill email-id correctly in the form because T-PIN and password will be communicated by the department to this email-id only;
After receiving the T-PIN and Password, visit the website www.aces.gov.in and Click on the service tax button provided on the left side of ACES Homepage to login;
Enter the T-PIN and password to log into the system. For first time login, ACES will mandatorily prompt for changing the password;
Set the new password. It is to note that user id (called as T-PIN) once selected can never be changed, even during the course of first time login;
For second and every subsequent login into ACES, take the note of this user-id and Password as set above
IT IS IMPORTANT TO NOTE THAT ALL THE ASSESSEE WHO ARE NOT REGISTERED WITH ACES SHOULD GET THEMSELVES REGISTERED WITH ACES WELL IN ADVANCE, TO AVIOD LAST DAYS RUSH AND FILE THE RETUN WITHIN TIME.
(B) How to fill the Return Electronically
There are two methods of filling the return electronically, namely:
Online filling of data in service tax return and then submit it.
Offline filling of data using excel utility and then upload it.
(1) Online Filing of data in Service Tax Return and Submit it
Login into ACES by entering the user-id and password. Home page of the assessee will appear;
Under ‘RET’ Main menu, click on the ‘fill’ option of ‘fill ST-3’ sub-menu i.e. RET Menu Fill ST-3 Fill.
A page will appear listing the Premises code and Address of the registered premises of the assesssee. Premises code will appear as hyperlink. Click on the hyperlink to prepare the ST-3 Return;
After filling the return correctly, Click on the ‘SAVE’ Button appearing on last page and confirmation page of ST-3 will appear;
To Amend, Click on the ‘Modify’ button or ‘Save’ to store the Return in the database;
To submit the ST-3 Return to the department, press “SUBMIT” button. Confirmation will appear for successful submission of ST-3 Return displaying the Unique No. for such Return;
Return saved in ACES can be amended before submission by the assessee by clicking on the “Amend ST-3” button under “Fill ST-3” sub-menu.
In the same way, Return after submission can be revised once in 90 days by clicking on the “Revise ST-3” option of “Fill ST-3” submenu.
(2) Offline filling of data using excel utility and then upload it;
Click on the ‘Download’ button provided on the left side of ACES Homepage and download excel utility by clicking on the hyperlink “Download ST3 Return Excel Utility”;
Use the excel utility to prepare ST-3 return and click on “Validate & Submit” button on the last page to generate XML file;
The XML file will be saved in the same folder where the download utility is saved by the user;
To upload the ST-3 Return, login into ACES by entering the user-id and password. Click on “Upload File” option of “e-filing” submenu under “RET” Main Menu;
i.e. RET Main Menu e-filing Upload file
Click the “Save” button to save the return in the database of the assessee; Else click on “SUBMIT” button to file the return;
Confirmation will appear for successful uploading of Return without any Unique No.;
After uploading, click on “View Status” option of “e-filing” submenu under “RET” Menu to view status of Return. A return will be considered as filed only when its status is shown as ‘FILED’ which should be appeared on or before the last due date of 25th April/25th October, as the case may be, for treating the return ‘filed on time’.
(3) THE ASSESSEES CAN ALSO ‘VIEW’, ‘SAVE’ AND ‘PRINT’ THEIR FIELD ST-3 RETURN AT ANY TIME BY CLICKING ON THE BUTTON ‘VIEW ST-3’ UNDER ‘RET’ MENU AFTER SUUCESSFUL LOGIN INTO ACES.
Hope the above will assist you in your Professional endeavors.
B Com (Hons) FCA, AICWA, MIMA
Email : atul@servicetax.net Sunday, August 28, 2011
Tds Rates for financial year 2011-12 and assessment year 2012-12 is given in the TDS RATE chart 12-13 .Same rate was also applicable on Financial year 200-11 (assessment year 2011-12).
TCS (Tax collection at source is also given after this chart)
Tags:Tds rates on Interest ,TDS on contractors ,tds on commission, tds on rent , tds on professional services , tds on transport,TDS deposit due dates ,Interest on late deposit of TDS, TDS Latest charts ,latest TDS rates
Download TDS RATES CHART 2011-12 In PDF format
In the case of Company other than Domestic Company, the rate of surcharge is @ 2.5% of Income-tax, where the income or the aggregate of such income paid or likely to be paid exceeds Rs.1,00,00,000. NoCess on payment made to resident:Education Cess is not deductible/collectible at source in case of resident Individual/HUF/Firm/ AOP/ BOI/ Domestic Company in respect of payment of income other than salary.Education Cess @ 2% plus secondary & Higher Education Cess @ 1% is deductible at source in case of non-residents and foreign company.
TDS by Individual and HUF (Non Audit) case not deductibleAn Individual or a Hindu Undivided Family whose total sales, gross receipts or turnover from business or profession carried on by him does not exceeds the monetary limits(Rs.60,00,000 in case of business & Rs.15,00,000 in case of profession) under Clause (a) or (b) of Sec.44AB during the preceding financial year shall not be liable to deduct tax u/s.194A,194C, 194H, 194I & 194J.So no tax is deductible by HUF/Individual in first year of operations of business even sales/Fees is more than 60/15 Lakh.
TCS (tax collection at source rates fy 2011-12)(read more details by Tax collection at source)
Sl.No. Nature of Goods Rates in % 1. Alcoholic liquor for human Consumption 1 2. Tendu leaves 5 3. Timber obtained under forest lease 2.5 4. Timber obtained by any mode other than a forest lease 2.5 5. Any other forest produce not being timber or tendu leaves 2.5 6. Scrap 1 7. Parking lot 2 8. Toll plaza 2 9. Mining & Quarrying 2 Download TDS RATES CHART 2011-12 In PDF format Deposit of TDS:As a common rule tax is to be deposited with 7th of the immediate next month after deduction .However March tax is to be deposited by 30th April of the next financial year.For March ,2011 tds ,due date is 30.04.2011 and March 2012 due date is 30.04.2012. Rule is reproduced hereunder for your ready reference.(read full rule and notification 41/2010 dated 31.05.2010)
“Time and mode of payment to Government account of tax deducted at source or tax paid under sub­ section (1A) of section 192. Rule :30.(1) All sums deducted in accordance with the provisions of Chapter XVII‐B by an office of the Government shall be paid to the credit of the Central Government ‐
(2) All sums deducted in accordance with the provisions of Chapter XVII‐B by deductors other than an office of the Government shall be paid to the credit of the Central Government ‐(a) on or before 30th day of April where the income or amount is credited or paid in the month of March; and (b) in any other case, on or before seven days from the end of the month in which‐
The Due Dates for filing Quarterly Statements for TDS/TCS are as under
For quarter ended Due Dates 30/06/2011 15/07/2011 30/09/2011 15/10/2011 31/12/2011 15/01/2012 31/03/2012 15/05/2012 Download TDS RATES CHART 2011-12 In PDF format
DUTIES OF TAX DEDUCTOR/COLLECTORTo apply for Tax Deduction Account Number (TAN) in form 49B, in duplicate at the designated TIN facilitation centers of NSDL(please see www.incometaxindia.gov.in), within one month from the end of the month in which tax was deducted.
Failure to deduct or remit TDS /TCS(full or part)Interest:Interest at the rates in force (12% p.a.) from the date on which tax was deductible /collectible to the date of payment to Government Account is chargeable. The Finance Act 2010 amended interest rate wef 01.07.2010 and created a separate class of default in respect of tax deducted but not paid to levy interest at a higher rate of 1.5 per cent per month, i.e. 18 per cent p.a. as against 1 per cent p.m., i.e. 12 per cent p.a., applicable in case the tax is deducted late after the due date. The rationale behind this amendment is that the tax once deducted belongs to the government and the person withholding the same needs to be penalized by charging higher rate of interest Penalty equal to the tax that was failed to be deducted/collected or remitted is leviable.
This brochure should not be construed as an exhaustive statement of law. In case of doubt, reference should always be made to the relevant provisions of Income Tax Act, Rules or Notifications.Download TDS RATES CHART 2011-12 In PDF formattags:latest TDS rates , tds rate chart, tds rates financial year 2011-12, tds rates financial year 10-11,tds rates assessment year 2011-12,tds rates assessment year 2012-13,tags:Tags:tds rate chart,tds rates fy 2011-12,tds rates ay 2012-13,tds calculator,tds deduction rate,revised tds rates,tds challan,tds rate contractors,Tds rates,tds rates 11-12,new tds rates,tds rate chart,tds rate chart 11-12,tds rate,new tds rate chart,tds on rent,tds chart 12-13,new tds rates 11-12 tds rate,tds rate ay 10-11,tds rate after budget 2011,tds rate after budget,tds rate ,amendment,tds rate chart,tds rate chart 11-12,tds rate chart 11-12 in excel format,tds rate chart 12-13,tds rate chart 12-13,tds rate chart for salary,tds rate chart from oct 2009,tds rate chart ,tds rate chart in excel,tds rate chart 12-13 pdf,tds rate brokerage,tds rate budget 2011,tds rate bank interest,tds rate for ay 12-13,tds rate from 01.04.2011,tds rate for 2011-12,tds rate for advertisement,tds rate for non resident,tds rate for rent,tds rate for contractors,tds rate for professional fees,tds rate for transporter,tds rate for foreign remittance,tds rate 2011-12,tds rate assessment year 2012-13,tds rate agreement,tds rate and section,in tds rate and education cess in finance bill 2011 provisions,tds rate details,tds rate detail,tds rate india,tds rate in india,tds rate interest,tds rate in budget 2011,tds rate in delhi,tds rate in excel,tds rate in excel format,tds rate in india 2011,current tds rate in india,how to change tds rate in tally,tds rate chart,tds rate chart 2011 2012,tds rate chart india,tds rate chart income tax,tds rate chart 2011-12,india tds rate current year,tds rate chart for 2010-11,tds rate chart 2011-12,n
COST INFLATION INDEX FY 2011-12 1981 TO 2012
Cost Inflation for any year means any such index as the the central Govt may declare on the 75% basis of CPI every year.The purpose of the The cost inflation index is to calculate indexed cost of acquisition and indexed cost of improvement for computation of long term capital gain.
Cost Inflation Index for 1981 to 2012 is given in the chart below for your ready reference.
Service Tax Return online filing made Compulsory for all Assessees
With effect from 01.10.2011, it’s mandatory for all assessees to file service tax return electronically (Notification No. 43/2011-ST dated 25.08.2011). Prior to this amendment only assessees who have paid service tax of Rs. 10 Lakhs or more (including payment by utilisation of CENVAT Credit) in the previous financial year are required to file service tax return online.Due date to file half yearly return are 25,October and 25 April for first & second half yearly return respectively.
GOVERNMENT OF INDIAMINISTRY OF FINANCE(DEPARTMENT OF REVENUE)*****Notification No. 43/2011 – Service Tax
New Delhi, the 25th August 2011Bhadra 3, 1933 (Saka)
G.S.R. 642 (E).- In exercise of the powers conferred by sub-section (1) read with sub-section (2) of section 94 of the Finance Act, 1994 (32 of 1994), the Central Government hereby makes the following rules further to amend the Service Tax Rules, 1994, namely :- 1. (1) These rules may be called the Service Tax (Fourth Amendment) Rules, 2011. (2) They shall come into force on the 1st day of October, 2011.
2. In the Service Tax Rules, 1994, in rule 7, -
(a) in sub-rule (2), the proviso shall be omitted;
(b) after sub-rule (2) as so amended, the following sub-rule shall be inserted, namely:-
[F. No. 137/99/2011 – Service Tax]
Note.- The principal rules were notified vide notification No. 2/1994 – Service Tax dated the 28th June 1994, published in the Gazette of India, Extraordinary, Part II, section 3, Sub-section (i), vide number G.S.R. 546(E), dated the 28th June, 1994 and were last amended by notification No. 35/2011 - Service Tax, dated the 25th April, 2011, vide number G.S.R. 343 (E), dated the 25th April, 2011.
Income tax rate chart /slabs for Assessment year 2011-12 and earlier years has been given chart form as under in respect of Individual , HUF(hindu undivided Family) ,BOI(body of individuals) ..So download The charts for Link given below or you can read the same online as shown below
INCOME TAX RATES FOR AY 2006-07 TO AY 2011-12 FOR INDIVIDUAL ,HUF ,BOI,AOP
Resident Sr citizen
Up to 190000
190000-500000
240000-500000
160000-500000
Cess: 3% on Income Tax (2 % education cess ,1% Higher secondary cess)
190000-300000
160000-300000
180000-300000
225000-300000
Surcharge: 10 % on Income Tax if income Exceeding Rs 10,00,000
Cess: 3% on Income Tax & surcharge (2 % education cess ,1% Higher secondary cess)
Up to 145000
Up to 195000
145000-300000
195000-300000
110000-300000
2006-07 and
Up to 135000
Up to 185000
135000-300000
185000-300000
Cess: 2% on Income Tax & surcharge (2 % education cess )
Download Income tax rates /slab for Individual/HUF/BO AY 2006-07 to AY 2011-12
Tags:INCOME TAX RATES CHART AY 2011-12 INCOME TAX RATES CHART AY 2010-11 INCOME TAX RATES CHART AY 2009-10 INCOME TAX RATES CHART AY 08-09 INCOME TAX RATES CHART AY 2007-08 INCOME TAX RATES CHART AY 2006-07 ,TAX RATES FOR INDIVIDUALS ,TAX RATE FOR HUF ,TAX RATES FOR BOI, TAX RATES FOR COMPANIES,