Tax rates for income earned during the year 2008-09
General
Women
Senior Citizen
Tax Rate (In %)
(a)
0 – 1,50,000
0 – 1,80,000
0 – 2,25,000
Nil
(b)
1,50,001 - 3,00,000
1,80,001 - 3,00,000
2,25,001 – 3,00,000
10%
(c)
3,00,001 - 5,00,000
3,00,001 - 5,00,000
3,00,001 – 5,00,000
20% + (b) above
(d)
More than 5,00,000
More than 5,00,000
More than 5,00,000
30% + (c) above
SURCHARGE ON INCOMETAX In the case of every Individual, Hindu undivided family, Association of person and body of individuals, Surcharge on income-tax is calculated @10% if the total taxable income exceeds Rs.10,00,000.
EDUCATION CESS The amount of Income-tax and Surcharge shall be further increased by Education Cess of 3% on Income-tax plus Surcharge.
