what is IT slabs for this year?

Answer 1

Apuray answer contains mistakes. The mistakes are (1) Senior citizens (>65 Years) Tax free amount should 1.85 Lakhs and not 1.5 Lakhs., (2) Surcharge limit is Rs.10 Laks and not 8.5 Lakhs.

The below details are correct.

The slab for Male <65 years old & HUFs
0,00,001 - 1,00,000 Nil
1,00,001 - 1,50,000 10%
1,50,001 - 2,50,000 20%
2,50,001 - Any Amt. 30%

Female <65 years:
0,00,001 - 1,35,000 Nil
1,35,001 - 1,50,000 10%
1,50,001 - 2,50,000 20%
2,50,001 - Any Amt. 30%

Male or Female >65 years
0,00,001 - 1,85,000 Nil
1,85,001 - 2,50,000 20%
2,50,001 - Any Amt. 30%

Add : Education Cess @ 2% of total tax Liability

Add: Surcharge , (if income exceeds 10,00,000) @ 10% of total tax liability

Advance tax to be paid if the tax due exceeds Rs.5,000 (After deducting TDS & 80C rebates)

For Simple tax calculations calculate it with the Tax calculator (on the right hand side of the page of the below given link page)
http://incometaxindia.gov.in/

For full & and all calculations, download Tax Calculator software Sampark-2006 from (If you know about tax heads)
http://incometaxindia.gov.in/sampark/sampark2006.asp

N.J.Reddy

Answer 2

THe slabs are as follows :
Upto 100,000 Nil
100001 - 150000 10%
150001 - 250000 20%
above 25000 30%

Add: Surcharge , (if income exceeds 850,000) @ 10% of total tax liability

Add : Education Cess @ 2% of total tax Liability

For women the first slab starts at 135000
For senior Citizens at 160000
for more get in touch with me at [e-mail]

Answer 3

Pakistan

Answer 4

visit http://finance.indiamart.com/taxation/income_tax/rates.html
Also visit to find out what is your tax liability using the tax calculator
http://www.taxmann.com/taxmanndit/xtras/taxcalc.aspx

Hope this helps