wt is income tax slab 2008-2009 in india?

Question

pls give replay

Answer 1

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.

Answer 2

Income tax slab 2008-2009 in India is a virtual Lolly-pop for the people of India before election.

Answer 3

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.

Answer 4

PERSONAL TAX RATES



For individuals, HUF,

Association of Persons (AOP) &

Body of individuals (BOI):

For the Assessment Year 2008-09

Taxable income slab (Rs.) Rate (%)



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) NILL





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.

Answer 5

Hi

Individuals, HUF,Association of Persons (AOP) &Body of individuals (BOI):

For the Assessment Year 2008-09

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) --NILL

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.

* 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

Answer 6

Check on Income Tax website

Answer 7

1) Up to (1,10,000 for Individual or 145000 for Women below 65years or 180000 for senior citizens) - exempt

2) Up to 150000 from (110001 or 145001 as the case may be) - 10%

3) Up to 250000 from (150001 or 180001 as the case may be) - 20%

4) Above 250000 - 30%



Add: Surcharge @ 10% on total income (only

if your total income exceeds Rs10,00,000) - xxx



Less: Rebate U/sec 88E if any - xxx



Add: Education cess @ 3 per cent (2+1)

on (income tax) - xxx



NOTE:

1)The above rates are for Individual, there are separate rates for HUF, Company, Firm, AOP & BOI.



2) For women below 65 yrs the taxing starts from 145000, where as for senior citizens it starts from 180000.



3) If you have agricultural income of less than Rs5000, then its fine, otherwise also Agricultural Income is totally exempt BUT, for Calculating Tax - Slightly different procedure is adopted, ofcouse rates remaining the same but we arrive at different figure when compared to the one said above.



4) And Long term Capital gains are not included in above income and taxed @ 20%, similarly Winning from lottaries, card games etc.. are taxed @ 30%.

Answer 8

Are you referring to personal income tax or corporate. I presume it is personal taxation.The slab is as under for males who are not senior citizens.

Up to INR150000 nil

150001 to 300000- 10%:

300001 to 500000-20%

above 500001-30%.

Answer 9

Are you referring to personal income tax or corporate. I presume it is personal taxation.The slab is as under for males who are not senior citizens.

Up to INR150000 nil

150001 to 300000- 10%:

300001 to 500000-20%

above 500001-30%.

Answer 10

The income tax slab 2008-2009 in india is.

Up to 150000 ----------------nill

150001 to 300000---------- 10%:

300001 to 500000-----------20%

above 500001-----------------30%.

Answer 11

If you are a student or if even not:

U should probably consult Mathematics X class book NCERT cbse. you will find everything, methods even in the unit Income Tax

Answer 12

why don't you download a free tax calculator for fy 2008-09 in excel free from the link given below



http://simpletaxindia.blogspot.com/2008/03/tax-calculator-with-revised-rates-in.html

Answer 13

u could easily have got this info from www.minfin.nic.in. other have also copied from there. it would be much more easier and quicker for u to get such answers in google. it takes veey little time.

Answer 14

Please see the reply of shri gautam vaid , He has elaborately described the slabs of Personal I.T

Answer 15

(I) In the case of every individual other than the individual referred to in items (II) and (III) of this Paragraph or Hindu undivided family or association of persons or body of individuals, whether incorporated or not, or every artificial juridical person referred to in sub-clause (vii) of clause (31) of section 2 of the Income-tax Act, not being a case to which any other Paragraph of this Part applies,—



(1) where the total income does not exceed Rs. 1,50,000 Nil;

(2) where the total income exceeds Rs.1,50,000 but does notexceed Rs. 3,00,000

10 per cent. of the amount by which the total income exceeds Rs. 1,50,000;



(3) where the total income exceeds Rs. 3,00,000 but doesnot exceed Rs. 5,00,000

Rs. 15,000 plus 20 per cent. of the amount by which the total income exceeds Rs. 3,00,000;



(4) where the total income exceeds Rs. 5,00,000

Rs. 55,000 plus 30 per cent. of the amount by which the total income exceeds Rs. 5,00,000.



(II) In the case of every individual, being a woman resident in India, and below the age of sixty-five years at any time during the previous year,—



Rates of income-tax

(1) where the total income does not exceed Rs. 1,80,000 Nil;

(2) where the total income exceeds Rs. 1,80,000 but doe not exceed Rs. 3,00,000

10 per cent. of the amount by which the total income exceeds Rs. 1,80,000;



(3) where the total income exceeds Rs. 3,00,000 but doesnot exceed Rs. 5,00,000

Rs. 12,000 plus 20 per cent. of the amount by which the total income exceeds Rs. 3,00,000;



(4) where the total income exceeds Rs. 5,00,000

Rs. 52,000 plus 30 per cent. of the amount by which the total income exceeds Rs. 5,00,000.







(III) In the case of every individual, being a resident in India, who is of the age of sixty-five years or more at any time

during the previous year,—

Rates of income-tax

(1) where the total income does not exceed Rs. 2,25,000 Nil;

(2) where the total income exceeds Rs. 2,25,000 but doesnot exceed Rs. 3,00,000

10 per cent. of the amount by which the total income exceeds Rs. 3,00,000;



(3) where the total income exceeds Rs.3,00,000 but doesnot exceed Rs. 5,00,000

Rs. 7,500 plus 20 per cent. of the amount by which the total income exceeds Rs. 3,00,000;



(4) where the total income exceeds Rs. 5,00,000

Rs. 47,500 plus 30 per cent. of the amount by which the total income exceeds Rs. 5,00,000.







Surcharge on income-tax

The amount of income-tax computed in accordance with the preceding provisions of this Paragraph shall,—

(i) in the case of every individual or Hindu undivided family or association of persons or body of individuals having a total income exceeding ten lakh rupees, be increased by a surcharge for purposes of the Union calculated at the rate of ten per cent. of such income-tax;



(ii) in the case of every person, other than those mentioned in item (i), be increased by a surcharge for purposes of the Union calculated at the rate of ten per cent. of such income-tax:



Provided that in case of persons mentioned in item (i) above having a total income exceeding ten lakh rupees, the total amount payable as income-tax and surcharge on such income shall not exceed the total amount payable as income-tax on a total income of ten lakh rupees by more than the amount of income that exceeds ten lakh rupees.