28 August 2008
INCOME TAX RATES: Income Slab Tax Rate Up to Rs.1,50,000 (Male) / Up to Rs 1,80,000 (Female) / Up to 2,25,000 (for resident individual of 65 years or above) NIL Rs. 1,50,001 to Rs. 3,00,000 (Male)/ Rs 1,80,001 to Rs 3,00,000 (Female) 10% Rs. 3,00,001 to Rs. 5,00,000 20% Rs. 5,00,001 and above 30% *
* A surcharge of 10 per cent of the total tax liability is applicable where the total income exceeds Rs 10,00,000. Education cess is applicable @ 3 per cent on income tax, inclusive of surcharge if there is any.. Agricultural income is exempt from income-tax
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