Tax slab of the current assessment year (AY) i.e., AY 2011-12 and current financial year (FY) i.e., FY 2011-12 is similar for the women assessees whereas for the individual assessees and senior citizens it is not the same. In the FY 2011-12 (AY 2012-13) age limit for senior citizen is reduced to 60years who will get additional basic exemption limit of Rs. 10,000 and new category of tax payers is introduced ‘very senior citizen’ having age of 80 years or more who will enjoy tax exemption upto Rs. 5,00,000. Further, in the FY 2011-12 (AY 2012-13) men assessees will also get additional basic exemption limit of Rs. 20,000 i.e. the limit extends from Rs. 1,60,000 to Rs. 1,80,000.

Tax slab for FY 2010-11 (AY 2011-12)
Particulars Slab Tax Rate
Women assesses Up to 1,90,000 Nil
From 1,90,001 to 5,00,000 10%
From 5,00,001 to 8,00,000 20%
Above 8,00,000 30%

Senior Citizen
(65 years or more) Up to 2,40,000 Nil
From 2,40,001 to 5,00,000 10%
From 5,00,001 to 8,00,000 20%
Above 8,00,000 30%

Other assesses Up to 1,60,000 Nil
From 1,60,001 to 5,00,000 10%
From 5,00,001 to 8,00,000 20%
Above 8,00,000 30%

Tax slab for FY 2011-12 (AY 2012-13)
Particulars Slab Tax Rate
Women assesses Up to 1,90,000 Nil
From 1,90,001 to 5,00,000 10%
From 5,00,001 to 8,00,000 20%
Above 8,00,000 30%

Senior Citizen
(60 years & upto 79 years) Up to 2,50,000 Nil
From 2,50,001 to 5,00,000 10%
From 5,00,001 to 8,00,000 20%
Above 8,00,000 30%

Other assesses Up to 1,80,000 Nil
From 1,80,001 to 5,00,000 10%
From 5,00,001 to 8,00,000 20%
Above 8,00,000 30%

Very Senior Citizen
(80 years & above) Up to 5,00,000 Nil
From 5,00,001 to 8,00,000 20%
Above 8,00,000 30%

Additional deduction of Rs. 20,000 under section 80CCF for investment in long-term infrastructure bonds is available for financial year 2010-11 as well for FY 2011-12.

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