Proposed rates of tax 2011
A-46, CHAPTER - XVI, RATES OF INCOME TAX
16.1 Tax rates are determined by the size of the tax base; if the tax base is higher, the tax rates can be lower. For the purposes of this Discussion Paper, the tax rates provided are such rates which are expected to yield the existing level of revenues with the revised comprehensive tax base proposed in this Code.
16.2 The rates of taxes are provided in the First Schedule to provide stability to the income tax regime.
16.3 The new tax rate for individual taxpayers can be substantially liberalised to levels (click on tables) below:
In the case of every individual, other than women and senior citizens
In the case of woman below the age of sixty-five years at any time during the financial year
In the case of senior citizens
Direct Taxes codeDiscussion Paper
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Direct Taxes code
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