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Wednesday, July 16, 2008

Indian Income tax slabs | Tax brackets for the F.Y. 2007-2008

Tax Slabs for F.Y. 2007-08
Whether you are a male, a female, a senior citizen or you have an HUF entity, your income below the basic exemption limit (as shown in the below table) will not be taxed. See below for a tabular illustration:


Note that senior citizens are not taxed at 10% at all. For them the tax rate begins with 20% as they enjoy the highest basic tax exemption limit (Rs.1,95,000).

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