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Direct Tax Code Bill - 2010
Proposed Income Tax Rates / Slabs

A. Individuals
(Other than Senior Citizens), HUFs, Artificial Judicial Person

 Income Level / SlabsIncome Tax Rate
i. Where the total income does not exceed Rs. 2,00,000 NIL
ii. Where the total income exceeds Rs. 2,00,000 but does not exceed Rs. 5,00,000 10 per cent. of the amount by which the total income exceeds Rs.2,00,000;
iii. Where the total income exceeds Rs.5,00,000 but does not exceed Rs.10,00,000 Rs.30,000 plus 20 per cent. of the amount by which the total income exceeds Rs.5,00,000 ;
iv. Where the total income exceeds Rs.10,00,000 Rs.1,30,000 plus 30 per cent. of the amount by which the total income exceeds Rs.10,00,000;

II. In case of an individual resident, who is of the age of 65 years or more at any time during the previous year:-

 Income Level / SlabsIncome Tax Rate
i. Where the total income does not exceed Rs. 2,50,000 NIL
ii.Where the total income exceeds Rs.2,50,000 but does not exceed Rs.5,00,000;10 per cent. of the amount by which the total income exceeds Rs. 2,50,000
iii. Where the total income exceeds Rs. 5,00,000 but does not exceed Rs. 10,00,000 Rs. 25,000 plus 20 per cent. of the amount by which the total income exceeds Rs. 5,00,000;
iv. Where the total income exceeds Rs.10,00,000 Rs. 1,25,000 plus 30 per cent. of the amount by which the total income exceeds Rs. 10,00,000;

B. Co-operative society

 Income Level / SlabsIncome Tax Rate
i. Where the total income does not exceed Rs.10,000 10 per cent. of the total income;
ii. Where the total income exceeds Rs.10,000 but does not exceed Rs. 20,000 Rs.1,000 plus 20 per cent. of the amount by which the total income exceeds Rs. 10,000;
iii. Where the total income exceeds Rs. 20,000 Rs. 3,000 plus 30 per cent of the amount by which the total income exceeds Rs. 20,000.

C. Every other society

 Income Level / SlabsIncome Tax Rate
i. On the whole of the total income 30 per cent.

D. Non-profit organisation

 Income Level / SlabsIncome Tax Rate
i. When the total income does not exceed Rs. 1,00,000 Nil
ii. Where the total income exceeds Rs. 1,00,000 15 per cent. of the amount by which the total income exceeds Rs. 1,00,000

E. Unincorporated body

 Income Level / SlabsIncome Tax Rate
i. On the whole of the total income 30 per cent.

E. Company

 Income Level / SlabsIncome Tax Rate
i. On the whole of the total income 30 per cent.

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