Thursday, November 27, 2008

Income tax slab for assessment year 2009-10

Income tax slab for assessment year 2009-10 in India


Income tax slabs 2008-2009 for Men



Income tax slab (in Rs.)Tax

0 to 1,50,000No tax

1,50,001 to 3,00,00010%

3,00,001 to 5,00,00020%

5,00,001 to 10,00,00030%

Above 10,00,00030% + 10% surcharge on tax


Income tax slabs 2008-2009 for women



Income tax slab(in Rs.)Tax

0 to 1,80,000No tax

1,80,001 to 3,00,00010%

3,00,001 to 5,00,00020%

5,00,001 to 10,00,00030%

Above 10,00,00030% + 10% surcharge on tax


Income tax slabs 2008-2009 for Senior citizen



Income tax slab(in Rs.)Tax

0 to 2,25,000No tax

2,25,001 to 3,00,00010%

3,00,001 to 5,00,00020%

5,00,001 to 10,00,00030%

Above 10,00,00030% + 10% surcharge on tax


Note: In addition to the above, an education cess of 3% is charged on the entire tax amount including surcharge.
Please note that the taxable income is arrived at after adding all your different sources of income and subtracting the deductions that you can avail under income tax exemption.

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