A Reference Library for Customs, Excise & Service Tax Officers and Tax Payers

CENTRAL GOVERNMENT EMPLOYEES - INCOME TAX

INCOME TAX RATES

ASSESSMENT YEAR 2011-2012

RELEVANT TO FINANCIAL YEAR 2010-2011

I. TAX RATES FOR INDIVIDUALS OTHER THAN II & III

INCOME SLABS INCOME TAX RATES
Upto Rs.1,60,000 NIL
Rs.1,60,000 to 5,00,000 10% of the amount exceeding Rs.1,60,000
Rs.5,00,000 to 8,00,000 Rs.34,000 + 20% of the amount exceeding Rs.5,00,000
Rs.8,00,000 & above Rs.94,000 + 30% of the amount exceeding Rs.8,00,000


II. TAX RATES FOR RESIDENT WOMEN BELOW 65 YEARS

INCOME SLABS INCOME TAX RATES
Upto Rs.1,90,000 NIL
Rs.1,90,000 to 5,00,000 10% of the amount exceeding Rs.1,90,000
Rs.5,00,000 to 8,00,000 Rs.31,000 + 20% of the amount exceeding Rs.5,00,000
Rs.8,00,000 & above Rs.91,000 + 30% of the amount exceeding Rs.8,00,000


III. TAX RATES FOR INDIVIDUAL RESIDENTS AGED 65 YRS AND ABOVE

INCOME SLABS INCOME TAX RATES
Upto Rs.2,40,000 NIL
Rs.2,40,000 to 5,00,000 10% of the amount exceeding Rs.2,40,000
Rs.5,00,000 to 8,00,000 Rs.26,000 + 20% of the amount exceeding Rs.5,00,000
Rs.8,00,000 & above Rs.86,000 + 30% of the amount exceeding Rs.8,00,000


EDUCATION CESS ON INCOME TAX

The amount of Income-tax shall be further increased by Education Cess of 3% on Income-tax.

PERMANENT ACCOUNT NUMBER (PAN)

Every assessee is required to obtain 10 alpha numeric Permanent Account Number (PAN) and quote the same in his returns, challans & correspondence. PAN can be obtained by applying in new Form No.49A at the designated Service Centres of UTITSL OR NSDL. PAN is essential for processing the Return of Income and for giving credit for taxes paid. If a person who is required to quote his Permanent Account Number fails to do so or intimates false number, the Assessing Officer may direct that such person shall pay, by way of penalty, a sum of Rs.10,000.

INCOME TAX PAYMENTS

Advance tax payments and Self-assessment tax payments have to be made in Challan No.280.


Disclaimer | Updated on
All Rights Reserved ©2005-17.
Customs, Excise and Service Tax Referencer®
webadmin@referencer.in