Personal Income Tax Slabs Changed
February 29th, 2008
The Finance Minister has provided tax relief to all tax payers by changing the Personal Income Tax slabs.
The revised Tax slabs are as follows:
Income upto 1.5 lakhs - 0%
Income between 1.5 lakhs to 3 lakhs - 10%
Income between 3 lakhs to 5 lakhs - 20%
Income above 5 lakhs - 30%
For women, Income upto 1.8 lakhs is exempt
For senior citizens, Income upto 2.25 lakh is exempt