ncome Tax - Income Tax Rates/ Slab 2008-09
PERSONAL TAX RATES
For individuals, HUF, Association of Persons (AOP) and Body of individuals
(BOI):
For the Assessment Year 2008-09 Taxable income slab (Rs.) Rate (%) Up
to 1,50,000
Up to 1,80,000 (for women)
Up to 2,25,000 (for resident individual of 65 years or above) NIL 1,50,000 –
3,00,000 10 3,00,001 – 5,00,000 20 5,000,001 upwards 30* *A surcharge of 10
per cent of the total tax liability is applicable where the total income
exceeds Rs 1,000,000.
Note : -
Education cess is applicable @ 3 per cent on income tax, inclusive of
surcharge if there is any. A
marginal relief may be provided to ensure that the additional IT
payable, including surcharge, on excess of income over Rs 1,000,000 is
limited to an amount by which the income is more than this mentioned
amount.
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