Union Budget 2010: Tax impact for resident individuals and HUF

By ET Bureau | Feb 26, 2010, 01.52 PM IST

Tax Impact for Resident Individuals and Hindu Undivided Families
Gross Total Income (Rs)	3,00,000		5,00,000
	A.Y. 2010-11	A.Y. 2011-12	A.Y. 2010-11	A.Y. 2011-12
Gross Income	300000	300000	500000	500000
Tax Benefit u/s 80C	100000	100000	100000	100000
Tx exemption under Infra Bonds		20000		20000
Net Taxable Income post sec. 80C	200000	180000	400000	380000
Income Exempt from Tax as per slabs	160000	160000	160000	160000
Taxable Amount	40000	20000	240000	220000
Amount taxable @ 10%	40000	20000	140000	220000
Amount taxable @ 20%	0	0	100000	0
Amount taxable @ 30%	0	0	0	0
Tax Amount Pre-Cess*	4000	2000	34000	22000
Education cess @3%	120	60	1020	660
Total Tax Payable	4120	2060	35020	22660

Tax Impact for Resident Individuals and Hindu Undivided Families
Gross Total Income (Rs)	8,00,000		10,00,000
	A.Y. 2010-11	A.Y. 2011-12	A.Y. 2010-11	A.Y. 2011-12
Gross Income	800000	800000	1000000	1000000
Tax Benefit u/s 80C	100000	100000	100000	100000
Tx exemption under Infra Bonds		20000		20000
Net Taxable Income post sec. 80C	700000	680000	900000	880000
Income Exempt from Tax as per slabs	160000	160000	160000	160000
Taxable Amount	540000	520000	740000	720000
Amount taxable @ 10%	140000	340000	140000	340000
Amount taxable @ 20%	200000	180000	200000	300000
Amount taxable @ 30%	200000	0	400000	80000
Tax Amount Pre-Cess*	114000	70000	174000	118000
Education cess @3%	3420	2100	5220	3540
Total Tax Payable	117420	72100	179220	121540

Tax Impact for Resident Individuals and HUF
Gross Total Income (Rs)	15,00,000
	A.Y. 2010-11	A.Y. 2011-12
Gross Income	1500000	1500000
Tax Benefit u/s 80C	100000	100000
Tx exemption under Infra Bonds		20000
Net Taxable Income post sec. 80C	1400000	1380000
Income Exempt from Tax as per slabs	160000	160000
Taxable Amount	1240000	1220000
Amount taxable @ 10%	140000	340000
Amount taxable @ 20%	200000	300000
Amount taxable @ 30%	900000	580000
Tax Amount Pre-Cess*	324000	268000
Education cess @3%	9720	8040
Total Tax Payable	333720	276040
* Only Sec 80C deduction has been assumed and excess deduction of Rs20000 in Infrastructure bonds in current amendments has not been taken into account and taxation for men below 65 years.

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