Income Tax Slabs 2010 - 2011 (Financial Year)

Proposed Income Tax Slabs 2010 - 2011 (Financial Year)

Income between Rs. 1.6 lakhs to Rs. 5 lakhs - 10% (10 per cent )- Income between Rs. 5 lakhs and Rs. 8 lakhs - 20% (20 per cent) - Income above Rs. 8 lakhs - 30% (30 per cent )- Income Tax Department ready to unveil new saral 2 form for salaried individuals in two pages - Deduction of Rs 20,000 allowed over Rs 1 lakh; to be invested in infra bonds