Credit Research
81 Points
Joined June 2007
Income tax slab rates :
1. Male assessee ( < 65 yrs )
0-100000 --- Nil
100001 - 150000 --- 10%
150001 - 250000 --- 20%
above 250000 --- 30%
2. Female assessee ( < 65 yrs )
0-135000 --- Nil
135001 - 150000 --- 10%
150001 - 250000 --- 20%
above 250000 --- 30%
3. Any assessee ( > 65 yrs )
0-185000 --- Nil
185001 - 250000 --- 20%
above 250000 --- 30%
Accountant
275 Points
Joined September 2007
For individuals, HUF, Association of Persons (AOP) and Body of individuals (BOI):
1) Up to 1,10,000 :- Nil
Up to 1,45,000 (for women) :- Nil
Up to 1,95,000 (for resident individual of 65 years or above) :- Nil
2) 1,10,000 – 1,50,000 :- 10%
3) 1,50,001 – 2,50,000 :- 20%
4) 2,50,001 – 1,000,000 :- 30%
5) 1,000,001 upwards :- 30%
Note : -
1) Education cess is applicable @ 3 per cent on income tax, inclusive of surcharge if there is any.
2) 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.
3) A surcharge of 10 per cent of the total tax liability is applicable where the total income exceeds Rs 1,000,000.
service
23 Points
Joined October 2007
I wannt to know about tax planning for Individuals both male and femal for Salaried personnel. Please send me all deductions available and investments plans available and other deductions with maximum amount of tax benefit available.
Guest
439355 Points
Joined August 2012
I WANT KNOW ABOUT INCOME TAX CHANGES & OTHER RELATED FACTORS LIKE HOUSING LOAN REBATE ETC
Accountant
120 Points
Joined May 2007
upto Rs.1,10,000 nil
< 1,10,000 -150,000 10%
150.001-250,000 20%
<2,50,000 30%
female citizen exempt upto 1,35,000
senior citizen exempt upto 1,85,000
educational cess 3%
surcharge 10% where income exceeds 10 lacs
Guest
439355 Points
Joined August 2012
For individuals, HUF, Association of Persons (AOP) and Body of individuals (BOI):
1) Up to 1,10,000 :- Nil
Up to 1,45,000 (for women) :- Nil
Up to 1,95,000 (for resident individual of 65 years or above) :- Nil
2) 1,10,000 – 1,50,000 :- 10%
3) 1,50,001 – 2,50,000 :- 20%
4) 2,50,001 – 1,000,000 :- 30%
5) 1,000,001 upwards :- 30%
Note : -
1) Education cess is applicable @ 3 per cent on income tax, inclusive of surcharge if there is any.
2) 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.
3) A surcharge of 10 per cent of the total tax liability is applicable where the total income exceeds Rs 1,000,000.