Indian Income Tax Slab Rates

Indian Income Tax Slab Rates – Updates

 

This Page is Updated Yearly with the Indian Income Tax Slab rates.

Currently we have listed Slab Rates from Assessment year 1992-93 to 2013-14.

 

For Financial year 2012-13 or Assessment Year 2013-14

TAX

MEN and WOMEN

SENIOR CITIZEN(Between 60 yrs to 80 yrs)

For Very Senior Citizens(Above 80 years)

Basic Exemption

200000

250000

500000

10% tax

200001 to 500000

250001 to 500000

-

20% tax

500001 to 1000000

500001 to 1000000

500001 to 1000000

30% tax

above 1000000

above 1000000

above 1000000

Surcharge

 There is no surcharge in the case of every individual, Hindu undivided family, Association of persons and body of individuals

Education Cess

 3% on Income-tax plus Surcharge.

 

For Financial year 2011-12 or Assessment Year 2012-13

TAX

MEN

WOMEN

SENIOR CITIZEN(Between 60 yrs to 80 yrs)

For Very Senior Citizens(Above 80 years)

Basic Exemption

180000

190000

250000

 500000

10% tax

180001 to 500000

190001 to 500000

250001 to 500000

 -

20% tax

500001 to 800000

500001 to 800000

500001 to 800000

500001 to 800000

30% tax

above 800000

above 800000

above 800000

above 800000

Surcharge

   There is no surcharge in the case of every individual, Hindu undivided family, Association of persons and body of individuals

Education Cess

 3% on Income-tax plus Surcharge.

 

For Financial year 2010-11 or Assessment Year 2011-12

TAX

MEN

WOMEN

SENIOR CITIZEN

Basic Exemption

160000

190000

240000

10% tax

160001 to 500000

190001 to 500000

240001 to 500000

20% tax

500001 to 800000

500001 to 800000

500001 to 800000

30% tax

above 800000

above 800000

above 800000

Surcharge

 There is no surcharge in the case of every individual, Hindu undivided family, Association of persons and body of individuals

Education Cess

 3% on Income-tax plus Surcharge.

 

For Financial year 2009-10 or Assessment Year 2010-11

TAX

MEN

WOMEN 

SENIOR CITIZEN

Basic Exemption

160000

190000

240000

10% tax

160001 to 300000

190001 to 300000

240001 to 300000

20% tax

300001 to 500000

300001 to 500000

300001 to 500000

30% tax

above 500000

above 500000

above 500000

Surcharge

  There is no surcharge in the case of every individual, Hindu undivided family, Association of persons and body of individuals.

Education Cess

    3% on Income-tax plus Surcharge.

 

For Financial year 2008-09 or Assessment Year 2009-10

TAX 

 MEN

 WOMEN

SENIOR CITIZEN

Basic Exemption

150000

180000

225000

10% tax

150001 to 300000

180001 to 300000

225001 to 300000

20% tax

300001 to 500000

300001 to 500000

300001 to 500000

30% tax

above 500000

above 500000

above 500000

Surcharge for Taxable Income > 10,00,000

 10%

 10%

 10%

Education Cess

    3% on Income-tax plus Surcharge.

 

For Financial year 2007-08 or Assessment Year 2008-09

TAX 

 MEN

 WOMEN

SENIOR CITIZEN

Basic Exemption

110000

145000

195000

10% tax

110001 to 150000

145001 to 150000

nil

20% tax

150001 to 250000

150001 to 250000

195001 to 250000

30% tax

above 250000

above 250000

above 250000

Surcharge for Taxable Income > 10,00,000

 10%

 10%

 10%

Education Cess

 3% on Income-tax plus Surcharge.

 

For Financial year 2006-07 and 2005-06 or Assessment Year 2007-08 and 2006-2007

TAX 

 MEN

 WOMEN

SENIOR CITIZEN

Basic Exemption

100000

135000

185000

10% tax

100001 to 150000

135001 to 150000

nil

20% tax

150001 to 250000

150001 to 250000

185001 to 250000

30% tax

above 250000

above 250000

above 250000

Surcharge for Taxable Income > 10,00,000

10%

  10%

 10%

Education Cess

2% on Income-tax plus Surcharge.

 

For Financial year 2004-05 and 2003-04 or Assessment Year 2005-06 and 2004-2005

TAX 

 MEN

 WOMEN

SENIOR CITIZEN 

Basic Exemption

50000

50000

 50000

10% tax

50001 to 60000

50001 to 60000

 50001 to 60000

20% tax

60001 to 150000

60001 to 150000

 60001 to 150000

30% tax

above 150000

above 150000

 above 150000

Surcharge for Taxable Income > 8,50,000

10%

10%

10%

Education Cess

2% on Income-tax plus Surcharge.

 

For Financial year 2002-03 or Assessment Year 2003-04

TAX 

 MEN

 WOMEN

SENIOR CITIZEN 

Basic Exemption

50000

50000

 50000

10% tax

50001 to 60000

50001 to 60000

 50001 to 60000

20% tax

60001 to 150000

60001 to 150000

 60001 to 150000

30% tax

above 150000

above 150000

 above 150000

Surcharge for Taxable Income > 1,50,000

5%

5%

5%

 

For Financial year 2001-02 or Assessment Year 2002-03

TAX 

 MEN

 WOMEN

SENIOR CITIZEN 

Basic Exemption

50000

50000

 50000

10% tax

50001 to 60000

50001 to 60000

 50001 to 60000

20% tax

60001 to 150000

60001 to 150000

 60001 to 150000

30% tax

above 150000

above 150000

above 150000

Surcharge for Taxable Income > 60,000

2%

2%

2%

 

For Financial year 2000-01 or Assessment Year 2001-02

TAX 

 MEN

 WOMEN

SENIOR CITIZEN 

Basic Exemption

50000

50000

 50000

10% tax

50001 to 60000

50001 to 60000

 50001 to 60000

20% tax

60001 to 150000

60001 to 150000

 60001 to 150000

30% tax

above 150000

above 150000

 above 150000

Surcharge for Taxable Income > 60,000

12%

12%

12%

Surcharge for Taxable Income > 150000

17%

 17%

 17%

 

ASSESSMENT YEAR 2000-2001

Upto 50000

Nil

50000 to 60000

10%

60000 to 150000

1000+20%

150000 and above

19000+30%

Surcharge

10% if the taxable income exceeds Rs.60,000

Standard Deduction

Upto 1,00,000 – Rs.25,000 or 33 1/3%

 

1,00,000 to 5,00,000 – Rs.20,000

 

5,00,000 & above – Nil

 

ASSESSMENT YEAR 1999 – 2000

Upto 50000

Nil

50000 to 60000

10%

60000 to 150000

1000+20%

150000 and above

19000+30%

Surcharge

Nil

Standard Deduction

Upto 1,00,000 – Rs.25,000 or 33 1/3%

 

1,00,000 to 5,00,000 – Rs.20,000

 

5,00,000 & above – Nil

 

ASSESSMENT YEAR 1998-1999

Upto 40000

Nil

40000 to 60000

10%

60000 to 150000

2000+20%

150000 and above

20000+30%

Surcharge

Nil

Standard Deduction

33 1/3% of salary or 20000 whichever is less

 

ASSESSMENT YEAR 1997-1998

Upto 40000

Nil

40000 to 60000

15%

60000 to 120000

3000+30%

120000 and above

21000+40%

Surcharge

Nil

Standard Deduction

33 1/3% of salary or 15000 whichever is less

 

And for ladies, if income exceeds Rs. 75,000 the S.D is Rs.18000/-

 

ASSESSMENT YEAR 1996-1997

Upto 40000

Nil

40000 to 60000

20%

60000 to 120000

4000+30%

120000 and above

22000+40%

Surcharge

Nil

Standard Deduction

33 1/3% of salary or 15000 whichever is less

 

ASSESSMENT YEAR 1995-1996

Upto 35000

Nil

35000 to 60000

20%

60000 to 120000

5000+30%

120000 and above

23000+40%

Surcharge

Nil

Standard Deduction

33 1/3% of salary or 15000 whichever is less

 

And for ladies, if income exceeds Rs. 75,000 the S.D is Rs.18000/-

 

ASSESSMENT YEAR 1994-1995

Upto 30000

Nil

30000 to 50000

20%

50000 to 100000

4000+30%

100000 and above

19000+40%

Surcharge

12% if taxable income exceeds 1,00,000

Standard Deduction

33 1/3% of salary or 15000 whichever is less

 

And for ladies, if income exceeds Rs. 75,000 the S.D is Rs.18000/-

 

ASSESSMENT YEAR 1993-1994

Upto 28000

Nil

28000 to 50000

20%

50000 to 100000

4400+30%

100000 and above

19400+40%

Surcharge

12% if taxable income exceeds 1,00,000

Standard Deduction

33 1/3% of salary or 12000 whichever is less

 

And for ladies, if income exceeds Rs. 75,000 the S.D is Rs.18000/-

 

ASSESSMENT YEAR 1992-1993

Upto 22000

Nil

22000 to 30000

20%

30000 to 50000

1600+30%

50000 to 100000

7600+40%

100000 and above

27600+50%

Surcharge

12% if taxable income exceeds 75,000

Standard Deduction

33 1/3% of salary or 12000 whichever is less