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Income Tax Rates for 2008 – 2009
This year, there is a tax bonanza for almost all tax payers. The budget has not only presented new tax slabs for the taxpayer but has also raised the minimum threshold level of income tax for every person. This means that the basic exemption limit has been raised across the board to help the poor taxpayer.
Income Tax Slab, which you might find timely and useful. The slabs are:
Few points that you would already be aware of, yet to note are:
- There are no changes in Surcharge.
- The above annual taxable income is subject to deductions (80C to 80U) and exemptions under the Income Tax Act 1961.
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