INCOME TAX EXCEMPTION LIMIT- 2009-10
Basic Slabs
for Individuals :-
Excemption limit raised from Rs. 1,50,000 to Rs. 1,60,000 |
| Up to Rs.1,60,000 |
NIL |
| Rs. 1,60,000 to Rs.3, 00,000 |
10 % |
| Rs. 3,00,001 to Rs. 5,00,000 |
20 % |
| Above Rs. 5,00,000 |
30 % |
Basic Slabs for Women under the age of 65 years
old :-
Excemption limit raised from Rs. 1,80,000 to 1,90,000 |
| Up to Rs. 1,90,000 |
NIL |
| Rs. 1, 90,000 to Rs. 3,00,000 |
10 % |
| Rs. 3,00,001 to Rs. 5,00,000 |
20 % |
| Above Rs. 5,00,000 |
30 % |
Basic Slabs for Senior Citizen (Over 65 years):-
Excemption limit raised from Rs. 2,25,000 to Rs. 2,40,000 |
| Up to Rs. 2,40,000 |
NIL |
| Rs. 2,40,000 to Rs.3,00,000 |
10 % |
| Rs. 3,00,001 to Rs. 5,00,000 |
20% |
| Above Rs. 5,00,000 |
30% |
|
- Levy of surcharge has been withdrawn for personal income tax payers. Earlier surcharge was levied at 10% having total income exceeding Rs. 10,00,000/- on such cases.
- Education Cess shall continue to be levied at the rate of 2 % and o1
% respectively of income-tax.
- Agricultural income is exempt from
income-tax.
Source: http://indiabudget.nic.in
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