Current Tax slabs in india?

Answer 1

Clarify which Tax slab
1. Income
2. Sales.
3.Commercial etc
If you are asking about Income tax then following may help you.
For individuals resident woman {not being a senior citizen (who is of 65 years or more at anytime during the previous year)}
Net income range income tax rate
Upto 135000 nil
135000 to 150000 10% of (TI-135000) + 2% education cess
150000 to 250000 1500+20% of (TI-150000) +2% education cess
250000 to 1000000 21500+30% of (TI- 250000) +2% education
cess
above 1000000 246500+30%of (TI-1000000) +10% of income tax Surcharge + 2% of income tax and surcharge


For resident senior citizen (who is of 65 years or more at anytime during the previous year)
upto 185000 nil
185001 to 250000 20% of (TI-185000)+2% edu cess
250001 to 1000000 13000+30% of (TI- 250000)+2% edu cess
above 1000000 238000+30% of (TI- 1000000)+10% sc
+2% edu cess


For any other individual, every HUF/AOP/BOI/Artificial juridical person

upto 100000 nil
100000 to 150000 10%of (TI- 100000)+2% ec
150001 to 250000 5000+20% of (TI-150000)+2% ec
250001 to 1000000 25000+30% of(TI- 250000)+2%ec
above 1000000 250000+30% of (TI-1000000)+10% sc+2%ec

From Next year the Minimum exemption limit will increase by 10000 and education cess by 1% rest slab will be same but amount will change.

Answer 2

What do you mean by Current TAX Slabs in India?
Is it
1.Income tax slabs
2.Commercial Tax Slabs
3.Sales Tax Slabs
4. Wealth Tax
5. Property Tax
6.Water Tax.
Unless you are specific in your question, nobody can help you correctly.

Answer 3

current tax slabs (A.Y. 06-07)
for a male assess :-
upto 100000/- Nil
100001 to 150000 10%
150001 to 250000 20%
250001 to 350000 30%
for a female assesse
upto 135000 nil
135001 to 150000 10%
150001 to 250000 20%
250001 to 350000 30%
for a senior citizen
upto 185000 nil
185001 to 250000 20%
250001 to 350000 30%
education cess @2% shall also levied on all assesse

Answer 4

You mean Income tax:
Rs 1 Lackh = no tax
Next 10000 = 10 %
Next 90000 =20 %
Next amount = 30 %
Exemption Rs 20000 in tax on Rs 1 Lackh savings in LIC; PF etc.
+ 2 % education tax on total tax .

Answer 5

Slabs
0-100000.00 Nil
100000-150000 10%
150001-250000 20%
250001-UPTO 30%

Answer 6

For Male
100000 to 150000 is10%
150000 to 250000 is 20%
250000 and above is 30%

For female
135000 to 150000 is10%
150000 to 250000 is 20%
250000 and above is 30%

For Senior Citizen
100000 to 150000 is Nil
185000 to 250000 is 20%
250000 and above is 30%

Answer 7

Taxable income slab (Rs.)
1,00,000
1,35,000 (for women)
1,85,000 (for senior citizens) NIL (%)

1,00,001 - 1,50,000 10%

1,50,001 - 2,50,000 20%

2,50,001 upwards 30%

10,00,000 upwards 33.33%

Answer 8

there is increase in education cess of 1%


Income slabs and tax rates
Current year

Next year


Tax rates

Rs 0 - 50,000


Rs 0 - 100,000


No tax

Rs 50,001 - Rs 60,000


Rs 100,001 - 150,000


10%

Rs 60,001 -150,000


Rs 150,001 - 250,000


20%

Above Rs 150,000


Above Rs 250,000


30%

Taxable income more than Rs 850,000


Taxable income more than Rs 10,00,000


Surcharge 10%

TAX YOU WILL PAY FOR THE CURRENT YEAR

Annual income = Rs 450,000
Total tax = Rs 109,000
Education cess @ 2 % = Rs 2,180
Total tax payable = Rs 109,000 + 2,180 = Rs 111,180
Income slab

Tax rates


What it means for the tax payer

Rs 0 - 50,000


No tax


-

Rs 50,001 - 60,000


10%


Since no tax is levied up to Rs 50,000, tax in this case is calculated on Rs 10,000 (Rs 60,000 - Rs 50,000).

Rs 10,000 x 10% = Rs 1,000

Rs 60,001 - 1,50,000


20%


Since you have already paid tax on Rs 60,000, you now pay tax on Rs 90,000 (Rs 1,50,000 - Rs 60,000).

Rs 90,000 x 20% = Rs 18,000

Above Rs 1,50,000


30%


You have already paid tax on Rs 1,50,000, so you now pay tax on Rs 3,00,000 (Rs 4,50,000 - Rs 1,50,000).

(Rs 3,00,000 x 30%) = Rs 90,000

TAX YOU WILL PAY FOR THE NEXT YEAR

Annual income = Rs 450,000
Total tax = Rs 85,000

Income slab


Tax rates


What it means for the tax payer

Rs 0 - 100,000*


No tax


-

Rs 100,001 - 150,000


10%


Since no tax is levied up to Rs 100,000, tax in this case is calculated on Rs 50,000 (Rs 150,000 - Rs 100,000).

Rs 50,000 x 10% = Rs 5,000

Rs 150,001 - 250,000


20%


Since you have already paid tax on Rs 150,000, you now pay tax on Rs 100,000 (Rs 250,000 - Rs 150,000).

Rs 100,000 x 20% = Rs 20,000

Above Rs 250,000


30%


You have already paid tax on Rs 250,000, so you now pay tax on Rs 200,000 (Rs 450,000 - Rs 250,000).

(Rs 200,000 x 30%) = Rs 60,000

* The slab for women is Rs 125,000 and Rs 150,000 for senior citizens.

A surcharge of 10% will be levied once the taxable income is more than Rs 10 lakh (Rs 1 million). Currently the surcharge is 10% if the income is more than Rs 850,000.

Answer 9

yes it gives current...