Calculate your Income Tax

Income Tax slabs 2010-2011

Men
Up to Rs.1,60,000/- : Nil
Rs.1,60,001 to Rs.5,00,000: 10% of the amount exceeding Rs.1,60,000/-
Rs.5,00,001 to Rs.8,00,000: Rs.34,000 + 20% of the amount exceeding Rs.5,00,000/-
Rs.8,00,001 and above : Rs.94,000 + 30% of the amount exceeding Rs.8,00,000/-

Women
Up to Rs.1,90,000/- : Nil
Rs.1,90,001 to Rs.5,00,000: 10% of the amount exceeding Rs.1,90,000/-
Rs.5,00,001 to Rs.8,00,000: Rs.31,000 + 20% of the amount exceeding Rs.5,00,000/-
Rs.8,00,001 and above : Rs.91,000 + 30% of the amount exceeding Rs.8,00,000/-

Senior Citizens
Up to Rs.2,40,000/- : Nil
Rs.2,40,001 to Rs.5,00,000: 10% of the amount exceeding Rs.2,40,000/-
Rs.5,00,001 to Rs.8,00,000: Rs.26,000 + 20% of the amount exceeding Rs.5,00,000/-
Rs.8,00,001 and above : Rs.86,000 + 30% of the amount exceeding Rs.8,00,000/-

In addition to above every Assessee has to pay Education Cess i.e. 3% on tax payable.

Finance Minister has removed the surcharge on Income above Rs.10 Lakh for Personal Income Tax payers (July 2009).