Tuesday, July 29, 2008

Income Tax Slab For The Financial Year 2008-09 (For Individuals)

Taxable income slab (Rs.) Rate (%)
Up to 1,50,000 (for men below 65 Yrs)
Up to 1,80,000 (for women below 65 Yrs)
Up to 2,25,000 (for senior citizens[65 Yrs & above])
NIL
1,50,001 - 3,00,00010*
3,00,001 - 5,00,00020*
Income above 5,00,001 30**


* Education cess is applicable @ 3 per cent on income tax, inclusive of surcharge if there is any.
**A surcharge of 10 per cent of the total tax liability is applicable where the total income exceeds Rs. 10,00,000.

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