income tax rates

This query is : Resolved

Share Report Follow Query Ask a Query

Anupam

Anupam (Querist)
Follow

28 August 2008 hi

plz let me know the income tax rates for the assessment year 2008-09 for nov 2008 examination

CA RAMESH KUMAR AHUJA

CA RAMESH KUMAR AHUJA (Expert)
Follow

28 August 2008 Individuals & HUF:
0-110000 0%
110000-150000 10%
150000-250000 20%
250000-onwards 30%

For women:
0-145000 0%
145000-150000 10%
150000-250000 20%
250000-onwards 30%

For Senior Citizens:
0-195000 0%
195000-250000 20%
250000-onwards 30%

sc 10% on tax where total income exceeds 10 lacs
EC 2% SHEC 1%

Co and Firm: 30%

sc 10% on tax where total income exceeds 1cr

EC 2% SHEC 1%

CHEZHIYAN

CHEZHIYAN (Expert)
Follow

28 August 2008 INCOME TAX RATES:
Income Slab Tax Rate
Up to Rs.1,50,000 (Male) / Up to Rs 1,80,000 (Female) / Up to 2,25,000 (for resident individual of 65 years or above) NIL
Rs. 1,50,001 to Rs. 3,00,000 (Male)/ Rs 1,80,001 to Rs 3,00,000 (Female) 10%
Rs. 3,00,001 to Rs. 5,00,000 20%
Rs. 5,00,001 and above 30% *

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

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now