This article gives you the details of the most recent, currently applicable income tax slabs / brackets and the applicable income tax rates. The slabs for women and senior citizens are also covered.
The article also covers some historic slabs and tax rates.
One of the most basic queries that I always get is: What are the applicable IT slab rates for the current year?
Well, knowing the IT brackets and the income tax rates for each is one of the most important steps in calculating your income tax liability.
So, let’s find out what these are for this year.
(Ready to file your income tax return, but confused which form to use? Please read “Income Tax (IT) Return Filing – Which ITR form to use?“)
Income tax (IT) slabs / brackets for Financial Year 2012-13, Assessment Year 2013-14
| Rate | Income | |||
| Men and Women | Senior Citizens (Age 60-80 years) | Very Senior Citizens (Age above 80 years) | ||
| 0% | Less than 2,00,000 | Less than 2,50,000 | Less than 5,00,000 | |
| 10% | 2,00,001 to 5,00,000 | 2,50,001 to 5,00,000 | NA | |
| 20% | 5,00,001 to 10,00,000 | 5,00,001 to 10,00,000 | 5,00,001 to 10,00,000 | |
| 30% | 10,00,001 and above | 10,00,001 and above | 10,00,001 and above | |
Notes:
An education cess of 3% is applicable on income tax payable for every income tax assessee.
(Ready to file your income tax return, but confused which form to use? Please read “Income Tax (IT) Return Filing – Which ITR form to use?“)
Confused about filling the income tax return form – ITR? Want step by step guidance, and a video tutorial? Please read:
Income tax (IT) slabs / brackets for Financial Year 2011-12, Assessment Year 2012-13
| Rate | Income | |||
| Men | Women | Senior Citizens (Age 60-80 years) | Very Senior Citizens (Age above 80 years) | |
| 0% | Less than 1,80,000 | Less than 1,90,000 | Less than 2,50,000 | Less than 5,00,000 |
| 10% | 1,80,001 to 5,00,000 | 1,90,001 to 5,00,000 | 2,50,001 to 5,00,000 | NA |
| 20% | 5,00,001 to 8,00,000 | 5,00,001 to 8,00,000 | 5,00,001 to 8,00,000 | 5,00,001 to 8,00,000 |
| 30% | 8,00,001 and above | 8,00,001 and above | 8,00,001 and above | 8,00,001 and above |
Notes:
An education cess of 3% is applicable on income tax payable for every income tax assessee.
(Ready to file your income tax return, but confused which form to use? Please read “Income Tax (IT) Return Filing – Which ITR form to use?“)
Confused about filling the income tax return form – ITR? Want step by step guidance, and a video tutorial? Please read:
Income tax (IT) slabs / brackets for Financial Year 2010-11, Assessment Year 2011-12
| Rate | Income | ||
| Men | Women | Senior Citizens | |
| 0% | Less than 1,60,000 | Less than 1,90,000 | Less than 2,40,000 |
| 10% | 1,60,001 to 5,00,000 | 1,90,001 to 5,00,000 | 2,40,001 to 5,00,000 |
| 20% | 5,00,001 to 8,00,000 | 5,00,001 to 8,00,000 | 5,00,001 to 8,00,000 |
| 30% | 8,00,001 and above | 8,00,001 and above | 8,00,001 and above |
Notes:
An education cess of 3% is applicable on income tax payable for every income tax assessee.
(Ready to file your income tax return, but confused which form to use? Please read “Income Tax (IT) Return Filing – Which ITR form to use?“)
Confused about filling the income tax return form – ITR? Want step by step guidance, and a video tutorial? Please read:
(Want to know the changes in income tax slabs / brackets in budget 2010-11? Please read “Budget 2010-2011: More money for you due to Income Tax slab / bracket changes“)
Income tax (IT) slabs / brackets for Financial Year 2009-10, Assessment Year 2010-11
| Rate | Income | ||
| Men | Women | Senior Citizens | |
| 0% | Less than 1,60,000 | Less than 1,90,000 | Less than 2,40,000 |
| 10% | 1,60,001 to 3,00,000 | 1,90,001 to 3,00,000 | 2,40,001 to 3,00,000 |
| 20% | 3,00,001 to 5,00,000 | 3,00,001 to 5,00,000 | 3,00,001 to 5,00,000 |
| 30% | 5,00,001 and above | 5,00,001 and above | 5,00,001 and above |
Notes:
An education cess of 3% is applicable on income tax payable for every income tax assessee.
(Ready to file your income tax return, but confused which form to use? Please read “Income Tax (IT) Return Filing – Which ITR form to use?“)
Confused about filling the income tax return form – ITR? Want step by step guidance, and a video tutorial? Please read:
(Want to know what changes budget 2009 has brought about? Please read “Budget 2009-2010: Personal income tax (IT) related changes and impact on you“)
Income tax (IT) slabs / brackets for Financial Year 2008-09, Assessment Year 2009-10
| Rate | Income | ||
| Men | Women | Senior Citizens | |
| 0% | Less than 1,50,000 | Less than 1,80,000 | Less than 2,25,000 |
| 10% | 1,50,001 to 3,00,000 | 1,80,001 to 3,00,000 | 2,25,001 to 3,00,000 |
| 20% | 3,00,001 to 5,00,000 | 3,00,001 to 5,00,000 | 3,00,001 to 5,00,000 |
| 30% | 5,00,001 and above | 5,00,001 and above | 5,00,001 and above |
Notes:
A surcharge of 10% of your total income tax liability is applicable if your total income is more than Rs 10,00,000.
An education cess of 3% is applicable on income tax (inclusive of surcharge if there is any) for every income tax assessee.
(Ready to file your income tax return, but confused which form to use? Please read “Income Tax (IT) Return Filing – Which ITR form to use?“)
Confused about filling the income tax return form – ITR? Want step by step guidance, and a video tutorial? Please read:
(Want to know how much tax you are saving due to these new IT slabs? Please read “Budget 2008 – Impact of Income Tax Slab / Bracket Changes on You“)
Income tax (IT) slabs / brackets for Financial Year 2007-08, Assessment Year 2008-09
| Rate | Income | ||
| Men | Women | Senior Citizens | |
| 0% | Less than 1,10,000 | Less than 1,45,000 | Less than 1,95,000 |
| 10% | 1,10,001 to 1,50,000 | 1,45,001 to 1,50,000 | NA |
| 20% | 1,50,001 to 2,50,000 | 1,50,001 to 2,50,000 | 1,95,001 to 2,50,000 |
| 30% | 2,50,001 and above | 2,50,001 and above | 2,50,001 and above |
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