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BUDGET 2010 Special
Latest Updates -
-The latest income tax slabs for 2010-2011 can be found here - Income tax slabs 2010-11.
-The latest free income tax calculator to calculate your latest tax and to compare your tax savings from previous year can be found here
Free Income Tax calculator.
Modified India income tax slabs "2008 2009" per budget 2008
February 29, 2008 by financeminister
The detailed income tax slabs / income tax rates for 2008-2009 and a free income tax calculator based on the latest tax slabs.
India Income Tax slab changes summary -
Changes to income tax slabs in this budget from previous budget are -
- Income tax threshold in India has been raised to Rs. 1.5 lakhs from the existing 1.1 lakhs. This will give a relief of Rs. 4000.00 for each Indian tax payer.
- For women there is no tax for income below Rs 1.80 lakh
- Senior citizens need not pay tax for income below Rs 2.25 lakh.
- Tax rates are also changed for different tax slabs.
Detailed Indian Income tax slab tables -
Following income tax tables indicate income tax slab for "2008-2009". The first column indicates the income tax slab, and the second column indicates the income tax applicable on your income. Income tax indicates the percentage that needs to be paid as tax on your income.
India Income tax slabs 2008-2009 for Men
| Income tax slab (in Rs.) | Tax |
|---|---|
| 0 to 1,50,000 | No tax |
| 1,50,000 to 3,00,000 | 10% |
| 3,00,000 to 5,00,000 | 20% |
| Above 5,00,000 | 30% |
India Income tax slabs 2008-2009 for women
| Income tax slab(in Rs.) | Tax |
|---|---|
| 0 to 1,80,000 | No tax |
| 1,80,000 to 3,00,000 | 10% |
| 3,00,000 to 5,00,000 | 20% |
| Above 5,00,000 | 30% |
India Income tax slabs 2008-2009 for Senior citizen
| Income tax slab(in Rs.) | Tax |
|---|---|
| 0 to 2,25,000 | No tax |
| 2,25,000 to 3,00,000 | 10% |
| 3,00,000 to 5,00,000 | 20% |
| Above 5,00,000 | 30% |
A quick income tax calculator for the latest income tax slabs
Use the above income tax slab tables along with this free Quick Income tax calculator to calculate your income tax. The quick calculator also calculates your income tax based on previous years income tax slabs and tells you how much tax you saved.
Use Quick Income tax calculator: A simple calculator to find out how much tax you will pay this year based on the latest tax slabs. Enter your income and it will calculate the tax for you and let you know how much tax you will save compared to last year.