Tax Slabs for the Financial Year 2009-10
The idea of dealing with your taxes yourself, may be mind boggling. That complicated looking form, with small text may put you off.
But believe me, if you lead an uncomplicated life, then figuring out your taxes is uncomplicated too. I thought it very difficult too till I actually sat down and learnt the steps ( from a Money mag). You can do it too.
The first step is to find out your annual income and see in which category you come.
Income tax slabs / brackets for Financial Year 2009-10, Assessment Year 2010-11
Calculate your net taxable income for the year 2009-2010.
From the table below, you can see the rate at which your tax will be calculated, called your tax bracket.
|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|