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Income Tax Rates for 2011-2012 & Financial Calculator

Income Tax Calculator

Below is the income tax calculator for the year 2011-2012 based on the proposed budget passed by Mr Pranab Mukherjee.

As per the new rule, it is also not required to file your tax returns for someone earning less than 5 lacs in a financial year.

Attached here is the financial calculator which can be leveraged for calculating their tax returns for the year 2011-2012.

Click below to download the financial calculator

Income-Tax-Calculator-2011-12

Following are the Income Tax Rates for financial year 2011-2012

Income Tax Rates for financial year 2011-2012

For Men
Upto Rs. 1,80,000/- Nil
Rs. 1,80,001/- to Rs. 5,00,000/- 10 per cent
Rs. 5,00,001/- to Rs. 8,00,000 20 per cent
Above Rs. 8,00,000/- 30 per cent
For Women
Upto Rs. 1,90,000/- Nil
Rs. 1,90,000/- to Rs. 5,00,000/- 10 per cent
Rs. 5,00,001/- to Rs. 8,00,000 20 per cent
Above Rs. 8,00,000/- 30 per cent
For resident individual of 60 years or above (Senior Citizens)
Upto Rs. 2,50,000/- Nil
Rs. 2,50,001/- to Rs. 5,00,000/- 10 per cent
Rs. 5,00,001/- to Rs. 8,00,000 20 per cent
Above Rs. 8,00,000/- 30 per cent
For resident individual of 80 years or above (Very Senior Citizens)
Upto Rs. 5,00,000/- Nil
Rs. 5,00,001/- to Rs. 8,00,000 20 per cent
Above Rs. 8,00,000/- 30 per cent

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