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 |
| 1,50,001
– 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.
- Agricultural income is exempt from
income-tax.
|
