Most people who work in different organizations need to know how much tax deducted each month as the TDS (tax as a source) that their employer.Income Tax Calculator India is used by taxpayers, specifically for calculating their taxable income and the amount of taxes payable by them.
Calculation of income tax has always been afflicted taxpayers.The slabs of income tax are modified every year when the union budget is tabled by the finance minister of India.
Calculation of income tax has always been afflicted taxpayers.The slabs of income tax are modified every year when the union budget is tabled by the finance minister of India.
Income Tax Calculator India 2011 - 2012: This simple and easy to use tax calculator lets you calculate the tax outgo for Assessment Year 2011-12 (corresponding to the last Financial Year 2010-11). You can also calculate for previous FY 2009 - 2010 and current Financial Year 2011 - 2012. The calculator takes care of all the necessary calculations.
Income Tax Rates for financial year 2011-2012
| For Men | |
| Upto Rs. 1,80,000/- | Nil |
| Rs. 1,80,001/- to Rs. 5,00,000/- | 10 per cent |
| Rs. 5,00,001/- to Rs. 8,00,000 | 20 per cent |
| Above Rs. 8,00,000/- | 30 per cent |
| For Women | |
| Upto Rs. 1,90,000/- | Nil |
| Rs. 1,90,000/- to Rs. 5,00,000/- | 10 per cent |
| Rs. 5,00,001/- to Rs. 8,00,000 | 20 per cent |
| Above Rs. 8,00,000/- | 30 per cent |
| For resident individual of 60 years or above (Senior Citizens) | |
| Upto Rs. 2,50,000/- | Nil |
| Rs. 2,50,001/- to Rs. 5,00,000/- | 10 per cent |
| Rs. 5,00,001/- to Rs. 8,00,000 | 20 per cent |
| Above Rs. 8,00,000/- | 30 per cent |
| For resident individual of 80 years or above (Very Senior Citizens) | |
| Upto Rs. 5,00,000/- | Nil |
| Rs. 5,00,001/- to Rs. 8,00,000 | 20 per cent |
| Above Rs. 8,00,000/- | 30 per cent |
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