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madhavan73
28-10-2009, 03:03 PM
Dear members,

I would like to know income tax slab for the Financial Years 2005-06, 2006-07, 2007-08 & 2008-09, since I want generate my own calculation for Form 10 E to get tax benefit under section 89.

Thanks
Madhavan S

svsankar
03-11-2009, 07:24 PM
RATE OF INCOME TAX FOR FY 2005-2006 & 2006-2007
Where the total income does not exceed Rs.1,00,000/- (Rs.1,35,000/- in respect of Women Assessees):::NIL
Where the total income exceeds Rs.1,00,000/- but does not exceed Rs.1,50,000/- (>Rs.1,35,000/-<Rs.1,50,001/- in respect of Women Assessees):::10% of the amount by which the total income exceeds Rs.1,00,000/- (10% of income exceeding Rs.1,35,000/- in respect of Women Assessees)


Where the total income exceeds Rs.1,50,000/- but does not exceed Rs.2,50,000/- ::: Rs.5,000/- + 20% of the amount by which the total income exceeds Rs. 1,50,000/- (Rs.1,500/-+20% of the amount by which the total income exceeds Rs.1,50,000/- in respect of Women Assessees)

Where the total income exceeds Rs.2,50,000/- ::: Rs.25,000/- + 30% of the amount by which the total income exceeds Rs.2,50,000/- (Rs.21,500/-+30% of the amount by which the total income exceeds)

Education Cess:::2% of IT + Surchage
Surcharge ::: Taxable income upto Rs.10,00,000/- Nil
Taxable income more than 10 lakhs 10% on I.T payable

RATE OF INCOME TAX FOR FY 2007-2008

Where the total income does not exceed Rs.1,10,000/- (Rs.1,45,000/- in respect of Women Assessees) ::: NIL

Where the total income exceeds Rs.1,10,000/- but does not exceed Rs.1,50,000/-(>Rs.1,45,000/-<Rs.1,50,001/- in respect of Women Assessees):::10% of the amount by which the total income exceeds Rs.1,10,000/- (10% of income exceeding Rs.1,45,000/- in respect of Women Assessees)
Where the total income exceeds Rs.1,50,000/- but does not exceed Rs.2,50,000/- :::Rs.4,000/- + 20% of the amount by which the total income exceeds Rs. 1,50,000/- (Rs.500/-+20% of the amount by which the total income exceeds Rs.1,50,000/- in respect of Women Assessees)

Where the total income exceeds Rs.2,50,000/- ::: Rs.24,000/- + 30% of the amount by which the total income exceeds Rs.2,50,000/- (Rs.20,500/-+30% of the amount by which the total income exceeds Rs.2,50,000/-)

Education Cess:::3% of IT + Surcharge
Surcharge ::: Taxable income upto Rs.10,00,000/- Nil
Taxable income more than 10 lakhs 10% on I.T payable

RATE OF INCOME TAX FOR FY 2008-2009
Where the total income does not exceed Rs.1,50,000/- (Rs.1,80,000/- in respect of Women Assessees)::: NIL

Where the total income exceeds Rs.1,50,000/- but does not exceed Rs.3,00,000/-(>Rs.1,80,000/-<Rs.3,00,001/- in respect of Women Assessees):::10% of the amount by which the total income exceeds Rs.1,50,000/- (10% of income exceeding Rs.1,80,000/- in respect of Women Assessees)
Where the total income exceeds Rs.3,00,000/- but does not exceed Rs.5,00,000/-::: Rs.15,000/- + 20% of the amount by which the total income exceeds Rs. 3,00,000/- (Rs.12,000/-+20% of the amount by which the total income exceeds Rs.3,00,000/- in respect of Women Assessees)
Where the total income exceeds Rs.5,00,000/- :::Rs.55,000/- + 30% of the amount by which the total income exceeds Rs.5,00,000/- (Rs.52,000/-+30% of the amount by which the total income exceeds Rs.5,00,000/-)
Education Cess:::3% of IT + Surcharge
Surcharge ::: Taxable income upto Rs.10,00,000/- Nil
Taxable income more than 10 lakhs 10% on I.T payable

madhavan73
04-11-2009, 10:11 AM
Thank you very much sir.