Hi All,
Can anybody provide income tax slab rates from AY 01-02 to AY 08-09... I require this information for calculation of Relief u/s 89.
Thanks.
Ratan Deep Saxena
(Asstt Manager (Accounts & Finance))
(2993 Points)
Replied 25 February 2010
ncome Tax rates for Individuals:Financial year 2001-02 & Assessment Year 2001-2002
Income Slabs | Tax Rate |
up to Rs.50000/- | Nil |
Rs.50001/- to Rs.60000/- | 10 % |
Rs.60001/- to Rs.150000/- | Rs.1000 plus 20 % on amount exceeds Rs.60000/- |
Above Rs.150001/- | Rs.19000/- plus 30 % on amount exceeds Rs.150000.- |
For assessment year 2001-2002 special surchargs of 12 % of the tax payable on income above Rs.60000/- but less than Rs.150000/- and above Rs.150000/- surcharge at 17% after deducting benefits U/S 88
Notes : |
regards,
ratan
Ratan Deep Saxena
(Asstt Manager (Accounts & Finance))
(2993 Points)
Replied 25 February 2010
Tax rates for Individuals, HUF, AOP, BOI
|
|||||||
A.Y. 2003-04
|
A.Y. 2004-05
|
||||||
Income
|
Rate (%)
|
Tax
|
Surcharge
|
Total
|
Tax
|
Surcharge
|
Total
|
50000
|
Threshold
|
Threshold
|
|||||
60000
|
10
|
1000
|
–
|
1000
|
1000
|
–
|
1000
|
100000
|
20
|
9000
|
450
|
9450
|
9000
|
–
|
9000
|
150000
|
20
|
19000
|
950
|
19950
|
19000
|
–
|
19000
|
200000
|
30
|
34000
|
1700
|
35700
|
34000
|
–
|
34000
|
500000
|
30
|
124000
|
6200
|
130200
|
124000
|
–
|
124000
|
800000
|
30
|
214000
|
10700
|
224700
|
214000
|
–
|
214000
|
850000
|
30
|
229000
|
11450
|
240450
|
229000
|
–
|
229000
|
875000
|
30
|
236500
|
11825
|
248325
|
236500
|
23650
|
254000
|
900000
|
30
|
244000
|
12200
|
256200
|
244000
|
24400
|
268400
|
1000000
|
30
|
274000
|
13700
|
287700
|
274000
|
27400
|
301400
|
Note: Marginal relief would be provided to ensure that the additional income tax payable including surcharge, on the excess of income over Rs.60,000 / Rs.8,50,000 is limited to the amount by which the income is more than Rs.60,000 / Rs.8,50,000.
|
FIRMS
Tax @ 35% plus 5% surcharge to be added for A.Y. 2003-04 and at 2.5% for A.Y. 2004-05 Allowable remuneration to partners and tax for partnership firms |
||||
Income
(net of int. to partners) |
Maximum Allowable
|
Tax Payable
|
||
Remuneration *
|
A.Y. 2004-05 / 2003-04
|
|||
Business
|
Professional
|
Business
|
Professional
|
|
10000
|
10000
|
10000
|
–
|
–
|
25000
|
25000
|
25000
|
–
|
–
|
50000
|
50000
|
50000
|
–
|
–
|
70000
|
63000
|
63000
|
2450
|
2450
|
100000
|
82500
|
90000
|
6125
|
3500
|
150000
|
112500
|
120000
|
13125
|
10500
|
200000
|
132500
|
150000
|
23625
|
17500
|
300000
|
172500
|
190000
|
44625
|
38500
|
400000
|
212500
|
230000
|
65625
|
59500
|
500000
|
252500
|
270000
|
86625
|
80500
|
* Subject to conditions prescribed in S. 40(b) |
|
||||||||||||
|
Ratan Deep Saxena
(Asstt Manager (Accounts & Finance))
(2993 Points)
Replied 25 February 2010
Tax News from tax experts - TaxMatters.org - When Tax matters, think TaxMatters!
For Men & HUF:
0 - - 1,00,000 Nil
1,00,001 - 1,50,000 10%
1,50,001 - 2,50,000 20%
More than 2,50,001 30%
For Women
0 - 1,35,000 Nil
1,35,001 - 1,50,000 10%
1,50,001 - 2,50,000 20%
More than 2,50,001 30%
For Senior Citizen
0 - 1,85,000 Nil
1,85,001 - 2,50,000 20%
More than 2,50,001 30%
Note:
*Surcharge @ 10% applicable if total income exceeds Rs. 8.5 lakh for A.Y. 2005-06 and Rs. 10 lakh for A.Y. 2006-07.
*There is a new section 80C according to which a person can get rebate upto Rs. 1,00,000 against insurance premium, PF contributions and other such schemes.
*In case of higher education there is a deduction in tax for a maximum period of 8 years.
*Marginal relief would be provided to ensure that the additional income tax payable including surcharge, on the excess of income over Rs. 10,00,000 (Rs. 8.5 lakh for A.Y. 2005-06) is limited to the amount by which the income is more than Rs. 10 lakh (Rs. 8.5 lakh for A.Y. 2005-06).
*Education cess @ 2% on tax plus surcharge.
Ratan Deep Saxena
(Asstt Manager (Accounts & Finance))
(2993 Points)
Replied 25 February 2010
Income Tax Rates for Year 2008-09
For Males
For Females
For Senior Citizen
C.Balaji
(Learner)
(1867 Points)
Replied 25 February 2010
Dear Ratan........
Nice post...........
very useful for all...........
CA Bharat Aggarwal
(CA)
(283 Points)
Replied 17 June 2011
View Income Tax Slabs for the for the F.Y. 2011-12 A.Y. 2012-13 from the folowing link
https://tax-india.blogspot.com/2011/06/income-tax-rates-for-ay2012-13.html
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