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New Income Tax Slab in Indian budget 2008-2009

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February 29th, 2008 · 1 Comment

Sixth Pay Commission submitted its report on 24 March 2008.

TO VIEW THE TAX SLABS FOR YEAR 2009-2010 CLICK HERE

For Income tax Slabs 2009-2010 decalred in New budget by Congress on 6th July 2009 Click here

New Slabs of Income Tax in Indian budget for year 2008-2009 ( Interim Budget )

 

Upto Rs. 1,50,000 – NIL

From Rs. 1,50,000 to Rs. 3,00,000 – 10%

From Rs. 3,00,001 to Rs. 5,00,000 – 20%

Above Rs 5,00,001 – 30%

NEW SLABS WILL BE PLACED but read below ( 6th July 2009 )

- Hike in IT exemption for women to Rs 1,90,000
- Surcharge on personal tax scrapped
- Fringe Benefit Tax scrapped
- Elimiate surcharge of 10 pc on personal income tax
- IT exemption by Rs 15000 for senior citizens
 

For Income tax Slab Details of 2008-2009

READ MORE BUDGET DETAILS HERE

 

FOR WOMEN & SENIOR CITIZENS CLICK HERE

MORE BENEFITS

- Deduction of Rs. 15000 under Section 80D for Individual who pays medical Insurance premium for parents

- Senior Citizens Saving Scheme 2004 and the Post Office Term Deposit Account now included under under Sec.80(C) of the Income Tax Act.

- Additional deduction of Rs 15,000 towards payment of medical insurance for parents, in addition to the Rs 1 lakh limit for savings under Section 80C of the Income Tax Act.

 

FOR MORE BUDGET HIGHLIGHTS CLICK HERE

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1 response so far ↓

  • 1 bhushan // Nov 27, 2008 at 5:35 am

    Why is there a difference in the slab rates of income tax for individuals and women?

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