income tax slab

Vikas K Dhameja (Credit Research) (81 Points)
Replied 18 October 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%

Rashmi Agrawal (Accountant) (275 Points)
Replied 19 October 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.

niraj (service) (23 Points)
Replied 20 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)

I WANT KNOW ABOUT INCOME TAX CHANGES & OTHER RELATED FACTORS LIKE HOUSING LOAN REBATE ETC

karpagavinayagam (Accountant) (120 Points)
Replied 26 November 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)

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.