Income Tax - Income Tax Rates/ Slab 2008-09

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 (for Men)
Up to 1,80,000 (for Women)
Up to 2,25,000 (for resident individual of 65 years or above) --- Rate (%) ----- 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.
Agricultural income is exempt from income-tax.