Income Tax Slabs 2009 India
March 19th, 2008
Question: wt is income tax slab 2008-2009 in india?
pls give replay
Answer: Income Tax – Income Tax Rates/ Slab 2008-09
Tax Rates for NRI
PERSONAL TAX RATES
For individuals, HUF, Association of Persons (AOP) and Body of individuals (BOI):
For the Assessment Year 2008-09
Taxable income slab (Rs.) Rate (%)
Up to 1,50,000
Up to 1,80,000 (for women)
Up to 2,25,000 (for resident individual of 65 years or above) NIL
1,50,001 – 3,00,000 10
3,00,001 – 5,00,000 20
5,000,001 upwards 30*
*A surcharge of 10 per cent of the total tax liability is applicable where the total income exceeds Rs 1,000,000.Note : -
* Education cess is applicable @ 3 per cent on income tax, inclusive of surcharge if there is any.
* 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.
* Agricultural income is exempt from income-tax.
Shake-up in tax share
New Delhi, Dec. 30: The 13th Finance Commission’s recommendations on efficient tax and expenditure management and the sharing of tax receipts between the central and state governments could feature in the next Union budget.
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