Direct Tax proposals 2008-09

Direct Taxes· Threshold limit of exemption from personal income tax in the case of all assesses increased to Rs. 150,000. The slabs and rates of tax are:Up to Rs. 150,000NILRs. 150,001 to Rs. 300,00010 percentRs. 300,001 to Rs. 500,00020 percentRs. 500,001 and above30 percent· In case of a woman assessee, the threshold limit increased from Rs. 145,000 to Rs. 180,000; for a senior citizen, the threshold limit increased from Rs. 195,000 to Rs. 225,000.· No change in the corporate income tax rates.

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Finance news reporter covering taxation, GST, income tax, business compliance, and economy updates. I simplify complex financial topics into easy-to-understand articles for professionals, taxpayers, and business owners on leading finance and tax platforms.

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