Income Tax slabs
I have proposed budget proposal for Income Tax Slabs on Zee Business programme on Feb 15, 2008.
If you like my budget proposal then please vote for me, my code is E, to vote me type IBIBO E send 57575 or vote here: http://polls.ibibo.com/pollpagewidget.aspx?PollId=be1c29d9-49da-4465-a0c0-a175fa357e65
Please watch Zee News & Zee Business at 6:30 Pm and 9:30 Pm for the programme and Vote for the contestant who presented best.
INCOME TAX SLABS
In India, Individual income tax is a progressive tax with three slabs.
|Taxable income slab (Rs.)||General||Women||Senior Citizen|
|Up to 1,50,000||Nil||Nil||Nil|
|1,50,000 – 2,00,000||10%||10%(above 1,75,000)||Nil|
|2,00,001 – 2,50,000||20%||20%||Nil|
|2,50,001 — 10,00,000||30%||30%||30%|
** Surcharge of 10 % of the total tax liability should be applicable where the total income exceeds Rs 1,000,000.Presently all taxes in India are subject to an education cess, which is 3% of the total tax payable, and propose to increase education cess 3% to 4 %.