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.)

Up to 1,50,000      NIL

Up to 1,80,000 (for women) NIL

Up to 2,25,000 (for resident individual of 65 years or above)     NIL

1,50,000 – 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.

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