The income tax which is charged to you is based on the tax slabs declared by the Government in its annual budget every year. The following table encapsulates the tax slabs applicable this year. (Financial Year 2008-2009 )
| Taxable Income Slab | Tax Slab |
| Upto Rs. 1,50,000 | Nil |
| Up to Rs. 1,80,000 (for women) | Nil |
| Up to Rs. 2,25,000 (for residents, 65 years or above) | Nil |
| Rs. 1,50,000 – Rs. 3,00,000 | 10% |
| Rs. 3,00,001 – Rs. 5,00,000 | 20% |
| Rs. 5,00,001 – Rs. 10,00,000 | 30% |
| Above Rs. 10,00,001 | 30% + 10% surcharge on tax |
| Note: In addition, an education cess of 3% is charged on the entire tax amount including surcharge | |
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