income tax slab

Tax queries 2191 views 6 replies

 

what is the income tax slab for individual male n female for the Assessment year 2007-08.

Replies (6)
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%
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.
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.
I WANT KNOW ABOUT INCOME TAX CHANGES & OTHER RELATED FACTORS LIKE HOUSING LOAN REBATE ETC
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
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.


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