Friday, July 31, 2009

Income Tax Slab For FY 2007-08

Taxable income slab (Rs.) Rate (%)
Up to 1,10,000
Up to 1,45,000 (for women)
Up to 1,95,000 (for resident individual of 65 years or above)
NIL
1,10,000 - 1,50,00010*
1,50,001 - 2,50,00020*
2,50,001 & above 30**


*A surcharge of 10 per cent of the total tax liability is applicable where the total income exceeds Rs 1,000,000.
*Education cess is applicable @ 3 per cent on income tax, inclusive of surcharge if there is any.

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