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Income Tax slab For The Assessment year 2009-10, tax india

by Pankaj Singla on November 8, 2008

Income Slab	Tax Rate
Up to Rs.1,50,000 (Male) / Up to Rs 1,80, 000 (Female) / Up to 2,25, 000 (for resident individual of 65 years or above)	NIL
Rs. 1,50,001 to Rs. 3,00, 000 (Male)/ Rs 1,80,001 to Rs 3,00, 000 (Female)	10%
Rs. 3,00,001 to Rs. 5,00, 000	20%
Rs. 5,00,001 and above	30% *

* A surcharge of 10 per cent of the total tax liability is applicable where the total income exceeds Rs 10,00,000.

Education cess is applicable @ 3 per cent on income tax, inclusive of surcharge if there is any..
Agricultural income is exempt from income-tax.

I you have any doubt regarding calculate of your tax, feel free to ask your query in below comment form. I will definitely help you within 24 hours.

Get the Income Tax Calculator Ay(2008-9)(9-10) widget and many other great free widgets at Widgetbox!

Tagged as: Income Tax, Income Tax Slab

{ 79 comments… read them below or add one }

Anonymous December 17, 2008 at 2:07 am: IF AN EMPLOYEE JOIN IN A COMPANY IN THE MIDDLE OF THE FINANCIAL YEAR AND LEFT THE JOB IN THE MIDDLE OF THE FINANCIAL YEAR WHAT IS THE EFFECT OF TDS
Pankaj Singla (Adv.) December 19, 2008 at 10:33 am: It seems from your question that you have joined new company left behind you old company in the middle of the financial year. If your question is about that then your answer is
that TDS is deducted on salary on monthly basis. so you can take TDS certificate from your old employer for getting your Claim.
sudarsan December 20, 2008 at 5:17 am: i have worked in a inidan company upto june2009 and joined in a company in saudi arabia. until 2008march i have submitted my returns with it. now what is the procedure to follow in future.
Pankaj Singla (Adv.) December 20, 2008 at 10:44 pm: Yes you are going right because you have submitted your income tax return up to march 2008. It has cleared, but now you have joined in saudi arabia. It means you have no income in india. So you must follow the procedure of Income tax law in that country. if remain doubtful plz free to ask question in detail. thanks
Anonymous December 21, 2008 at 3:17 am: Hi. I needed to know about the tax deduction incase i have a home loan on my name. Thanks
Pankaj Singla (Adv.) December 21, 2008 at 7:04 am: Hi, Please ask your question in detail. if you have a home loan on your name then what is the problem.
Anonymous December 23, 2008 at 3:36 am: What is Security Transaction Tax?
Pankaj Singla (Adv.) December 23, 2008 at 5:57 am: Securities Transaction Tax (STT) is a tax being levied on all transactions done on the stock exchanges.

Securities Transaction Tax is applicable on purchase or sale of equity shares, derivatives, equity oriented funds and equity oriented Mutual Funds.

Current STT on purchase or sell of an equity share is 0.075%.
When you have paid security transaction tax at the time of selling securities (shares), then,

If you are an investor and not trader:

1. If you are selling the shares after 12 months, then it comes under long term capital gains and you need not have to pay any tax on that gain.

2. If you are selling the shares before 12 months then you have to pay short term capital gains @10% flat on the gain.

If you are a trader and not an investor:

All your gains will be treated as trading (Business) and you have to pay tax as per tax sables. In this case the transaction tax paid by you can be claimed back/adjusted in tax to be paid.
Rohit N. Pitre August 12, 2009 at 10:44 pm: Is there any change of TDS Rates from 01 – 10 – 2009 ?
Any changes please tell me the same.
TDS on professional fees
TDS on Contractors / Sub-Contractors
TDS on Rent.
pratap singh kucheria August 13, 2009 at 5:35 am: whats about donation given to any registered tarust sanstha .religies center how to do this.
naim August 17, 2009 at 12:54 am: I have hard fom my friend that, From next year the Tax will be deducted @10% of (total income-1,50,000), no deduction(like HRA, deduction under Sec-80C etc.) will be considered at that time of deduction.Is it true?
kuldeep August 19, 2009 at 1:06 am: New Income slab rate in which date will be applicable. What has Surcharge aboilished on all type of income above 10 lakhs
Dondu DSouza August 19, 2009 at 7:21 am: It is clear that if my yearly income is Rs. 3,00,000/-, Rs. 1,60,000/-
is deducted as income slab. Further if I pay Rs 60,000/- for PPF yearly and Rs 1,00,000/- towards home loan, what amount will be taxable and tax amount please.

Thanks
Gopala August 20, 2009 at 6:31 pm: Dear Sir,

I am now working in Singapore and will be joining an Indian company from oct 1.

I want to know what are the components in the salary package are subjected to tax………I will tell you what are the components that have been mentioned in the letter……… basic, HRA , conveyance, Medical, LTA, Telephone, PF, Bonus @20%, Gratuity, Hospitalization policy and once every year incentive.

Can you kindly help me to give the details by return email.
Thanks
Mukesh Mishra August 21, 2009 at 11:08 pm: Dear All
firstly thanks for updated information related to Income tax.
I request you please update below:
1. Tax Holiday ( Jammu Area )
2. Tax Compution of Company.
3. When applicable tax audit.
4. Hilight of Company law & Industry law.
RAJASEKAR.K.N August 27, 2009 at 3:29 am: pls send me the updated income tax slabs
Sunil August 28, 2009 at 9:22 am: i am working abroad and as per my understanding i won’t be taxed for my income. However, i have purchased a flat in India on loan basis. the possession of the flat has not be done so far. do i have any tax liability? where can i get more information on taxes for NRI for investments done in india.

thanks
Annu August 31, 2009 at 3:55 am: Who is responsible to file TDS quaterly return?
ANIL September 3, 2009 at 8:40 pm: PLS TELL ME ABOUT ASSESSMENT PROCEDURE,BELATED RETURN…
AND
ADVANCE TAX RATE FOR ALL ASSESSE….AND DATE OF FILLING ADVACE TAX…
AND
TDS….TDS RATE AND DATE FOR DEPOSITED THE TDS AND DATE OF FILLING THE RETURN OF INCOME TAX
D.Thanigainathan September 4, 2009 at 10:59 pm: In TDS, Form 17 is applied from which period
NITIN LAVEKAR September 6, 2009 at 3:25 am: MY Form 16 is misplaced how can i submit the returns .
MOHAN NAIR September 7, 2009 at 1:03 am: unable to download income tax slab for Ass Yr 2009-10
ashok September 9, 2009 at 9:51 am: sir
I did not take care any steps to avoid undue tax .
I heard that there is aprocedure called carry it Forward by which we can avoid this loss by filing it in next year.
Sudha September 10, 2009 at 3:13 am: Sir,

What could be the salary break up if a person’s CTC comes to Rs 60,000 & IT per month
kpshivu September 11, 2009 at 3:18 am: what is the expanses per day accured in firms
ravi September 12, 2009 at 7:33 pm: is real estate under income tax liability?
ravi September 12, 2009 at 7:41 pm: what is the current limit of savings for avail tax benefits
sangeeta senger September 16, 2009 at 6:05 am: hi
very gudevening
sir my package is 4.5 lac, i hav invested in 15000 in 80(c)
so plz tel me how much invest in 80(c)

Thanks
ankit September 17, 2009 at 6:46 pm: which type of perks and allowances are exempted and taxable
Arvind Singh September 23, 2009 at 6:11 am: after deducting partners remunaration the total income is rs.215450. Advance is 35000 what is the amount of tax payable.
Ketan Swarmandali September 24, 2009 at 2:11 am: Dear Friend,,

I required to know about new textation U/S 10 ( 10 ) D….

I am Investor in diffrent life insurance company . As i heard about that now Govt New planing for get tax on maturiety benefit ? Please let me know about New salb for U/S 10 (10 ) D…
Inder September 26, 2009 at 3:24 am: I am working in sez area should I paid the Income tax
If yes what is the rate IT
New slab for 2009-10
amit parmar October 1, 2009 at 6:56 am: what can a person do if he was employee of an insurance co.{PRIVET CO.}
he had return filed for to get back TDS but by mistek in wronge ward.
how he can get back his TDS ?
he had filed return for asst yr 2008-2009. but yet not getback TDS.
papa_kanjilal October 1, 2009 at 11:08 pm: Although I have an Income tax file, I failed to file my returns since last 6(six) years.
Now how can I regularize my IT-file this fiscal
papa_hisabi October 1, 2009 at 11:14 pm: I have an IT file. But I could not file my IT returns for the last six years due to seriuos ailments of my family member. Now how can I regularize my IT ? Kindly advice
raj October 3, 2009 at 9:22 am: I am house wife . I gained Rs 40,000 in a year as a shortterm gain by seeling shares through online transaction . As per new IT tax , no need to pay IT if women income lessthan Rs 1,80,000 in a year. Based on this point , I would not pay any IT . Whether my approach is correct or not . Please clarify it
Moreover my husband is paying his IT Separtely based on his salary income
admin October 3, 2009 at 10:02 am: Yes, You are right you don’t need to file any income tax return. You have option to file or not, its all up to you
raj October 3, 2009 at 4:38 pm: Please clarify my following two doubts
1.RPL SHARE PURCHASED TWO YEARS BACK NOW IT WAS REPLACED YESTERDAY BY RIL DUE TO AMAGLMATION .If i sell RIL ,which date will be taken for short term gain .Whether short term gain tax is applicable or not

2. How can adjust long term share loss against short term gain . I am a online share investor .Please clarify
M MADANA MOHANA PATRO October 3, 2009 at 6:19 pm: I RETURN FILE FOR THIS FINANCIAL YEAR,TILL DATE NOT REFUND RETURNED AMOUNT,I AM BLIND PERSON
admin October 7, 2009 at 4:03 am: Hello Madana
Please provide all detail along with PAN. I will get your refund from income tax department without any fees.
thanks
BHUPESH KUMAR October 7, 2009 at 9:05 pm: my salary is gross rs 360000/=per annum+arrear from nov 2007 rs 80000
investment in tax saving scheme rs 100000/=
housing loan interest in three loan rs 23000+2000+20000=45000
what will be my tax libility?

pls send me the updated income tax slabs
suvarna October 11, 2009 at 1:08 am: please informs me slab of income tax under clause 88.
c. k .sundar October 27, 2009 at 3:16 am: I am a central govt employye reaced arrears of 6th pay commn as 40%
last year and 60% now. i have paid tax for the last year.
my taxable income was 2,20000 last year. Can I show this arrears 60%
in last year ,because still 80,000 left for 20% (slab) ie below 3 lac.
pl clarify.
tks
Riya November 1, 2009 at 9:13 am: Hi,

I am currently working with an MNC and I earn around 2 lacs p.a. Am I exempted from tax being a female and earning below 3 lacs?

I don’t have much people around to assist me with the concept of tax with regards to my salary. Also how important is it to file my returns?
Kailas Tulaskar November 9, 2009 at 7:01 am: Dear Sir/Madam,

Please provide current Slab of Income tax & also provide Other taxes rates.

Thanks.

Kailas.
M.V.G.R. November 9, 2009 at 9:11 am: UP TO WHAT EXTENT I HAVE TO INVEST IN TO SAVING ACCOUNT IN BANK.
Justin November 10, 2009 at 1:46 am: I am a foreigner licving in new delhi.

I make approx 450000 per month and my tds is 117000.

Is this correct and does being a single arent allow me a tax break, additionally can i claim my accomodation which is i my name and also my daughters education

please help
palani November 14, 2009 at 3:41 am: Dear Sir
we are supposed to sell our grandfather land for an amount of 15,000,00.pls advice me whether we have to pay tax for this and if so how much is applicable for this income thru property.expecting your reply at the earliest
Abhishek Khandelwal November 14, 2009 at 6:05 pm: Hi Sir,

I am working in USA and would like to invest some money in indian FD, do i need to pay any taxes for the interest earned? Please advise asap. I have no source of indian income at this moment.

The investment amount would be around 5 Lakhs.
Ashraf November 20, 2009 at 2:30 am: Hi ashraf here,

Please tell me how to save the tax.
my current package is 5.3
yogita n vaidya November 20, 2009 at 3:46 am: i am not filling last two years income tax return, i need filling all my pending & current year income tax return please advice how can i filling my return.
or any rule change for filling of return. please advice.
laxmi November 23, 2009 at 10:10 pm: i am not filling last two years income tax return, i need filling all my pending & current year income tax return please advice how can i filling my return.
or any rule change for filling of return. please advice.
Upendra Jadaun November 28, 2009 at 2:19 am: I want set up a new business in nature of Bear Bar with a resturent .
what is the process for licensing for same and what would government charges
Rabisankar Gayen December 1, 2009 at 12:35 am: Dear Sir,

I am now working in Kolkata and will be joining an Indian company from oct 1.

I want to know what are the components in the salary package are subjected to tax………I will tell you what are the components that have been mentioned in the letter……… basic, HRA , conveyance, Medical, LTA, Telephone, PF, Bonus @20%, Gratuity, Hospitalization policy and once every year incentive.

Can you kindly help me to give the details by return email.
Thanks
Rabisankar Gayen
prabhavathi December 1, 2009 at 5:14 am: what is the maximum amount taken for the home loan interest and home loan principle for the income tax for the accounting year 2009-2010
Ranjitha U Hegde December 3, 2009 at 11:30 pm: Clarification needed :

1. What was the maximum limit of exemption on Food Coupon / Meal coupon obtained from Accor services through employer?

2.Can we claim exemption for coaching fee paid for child’s Cricket/football coaching?

3. Re imbursemnet allowance /perquisites – Please brief me about all perquisites/reimusement allowance
sandeep December 8, 2009 at 10:34 pm: dear sir/mam, my gross salary is 285000. in that my PF is 850 every month. for this year i have taken 3000 worth mediclaim, 2500 monthly rent, 4250 insurance, 70000 MF tax saver fund. In this case, how much should i have to pay IT for 2009-2010
ravi mehta December 10, 2009 at 11:31 am: Hi,
I am ravi.this is my first time i am going to give income tax.So,people please guide me how much i shoulkd invest in savings.I know that 100000 rs we can show in saving but look at my salary & benefits. can you peole guide me after deducting pf and like hra how much i have to show in saving,i have totally no idea about it.Second thing I want to know that which is the best scheme that you people that I can invest in,please give some specific name and policy names so then i could make it.

Waiting for hear from you people.

Thanks in advance………….
Below is the strucure of my salary

Yearly
PF & Gratuity Contribution 26,166

BASE SALARY 445,000
BASIC 155,750
HRA 93,450
CONVEYANCE 9,600
MEDICAL 15,000
LTA 12,979

SPECIAL ALLOWANCE 156,457
GROUP LIC 1,764

TOTAL 445,000

Monthly
BASIC 12,979
HRA 7,788
CONVEYANCE 800
MEDICAL 1,250
SPECIAL ALLOWANCE 13,038
TOTAL (Rounded off) 35,855

Monthly PF Deduction 1,557.50
ajay kumar srivastva December 11, 2009 at 7:36 am: form no 16 is necessary to issue by employer to employee in 2010-11 assesment year
cisf December 11, 2009 at 10:56 pm: how to income tax calculate from pay bill register
cisf December 11, 2009 at 10:58 pm: we want income tax calculator from excel format simply method
mangesh rana December 15, 2009 at 8:33 am: my total income is 5 lac & saving of 1.5 lac.show total tax and calculations with rebates allowed
GS December 17, 2009 at 9:27 am: I am US citizen of Indian descent, and has been offerred an position in india, with an annual salary around 8o lakhs, which will be taxable in india. According to my understanding, I am supposed to pay about 30% tax on my income, which means a lot in terms of amount?

Would you please kind enough to let me know, if I am correct or not? And what kinds of deduction I can seek once i am living here.

regards

gs
Audhesh Kumar Tiwari December 20, 2009 at 5:37 am: Sir,
I have joined a new companey in Dec 08 &I have recieved arear of my salary for the period Dec.08,Jan.09,Feb.09&March09 in april 09 ie. finencial year 2009-10.
My office is treating this salary towards finencial year 2009-10.
Can I book this salary in previous years income by revising my ITR( I have not included this amount in previous years income then)
Rishi Bhatt December 23, 2009 at 11:39 pm: Sir

I have a question about incometax. about artical 269

sir what happened when i give a loan to any body of 50000/- by bank and he repaid to me 1000/-p.m. in cash. if its not allowed and the person can not have a cheque book or a bank account then how can he repay me the amount of loan.

Sir i saw many companies that having taken amount cash in installments and after taken the amount they repay coustomor by bank. How can they do so.

Please replay as same

Yours sinserly
Rishi Bhatt
9425487005
AKILA.G. December 25, 2009 at 4:24 am: Dear Sir,

I am an Govt.Employee. Is the House Rent Allowance received by me is also treated as Income? Is it also taxable? Pl.clarify it.
S. Basak December 25, 2009 at 10:01 am: below is the details of my income and savings.will you pls tell me what will be my tax caculation? also, tell me how i could get max tax rebate from savings. pls tell me specifically where should i save and in what amount?

Yearly Gross Income : Rs. 252542.00/
” H.R.A. : Rs. 27810.00/
” D.A. : Rs. 32932.00/
” M.A. : Rs.3400.00/
” D.P. : Rs. 3000/

” P.F. : Rs. 11218.00/
” P.T. : Rs. 1540.00/
i hv a FD. in bank of Rs. 100000.00/
N.S.C. of Rs. 20000.00/
K.V.P. of Rs. 20000.00/

i shall be obliged if you guide me and provide me with the details.
Raja December 26, 2009 at 12:45 pm: Hi,

I left India on Oct’09 first Week and I want to have sent some money from USA for my family maintainance and loan emi payments.
Will the amount which I will send to my own a/c will be treated as Income for me.

Thanks,
Raja Babu
suresh prabhakar December 27, 2009 at 9:53 pm: Dear sir / madam,

At present I joined in a new company my CTC is
Rs.1,68,000/-.

Details of Salary

Basic : 6720
HRA : 3024
E.A. : 1150
C.A. : 1150
M.A. : 300
GROSS.: 12344

AFTER DEDUCTION OF PF
PF .: 806

NET SALARY .: 11538
PERKS
LTA.: 560
BONUS .: 290
PF .: 806

HOW TO CALCUATE MY SALARY IN INCOME TAX
KINDLY GIVE UR HUMBLE SUGGESTION.
REGARDS
SURESH.P
suresh prabhakar December 27, 2009 at 9:57 pm: What are the Exemption in INCOME TAX.

WHEN WE CALCUTATING PF CONTRIBUCTION
WE CAN ADD EMPLOYEE CONTRIBUTION + EMPLOYER CONTRIBUTION

GIVE UR HUMBLE SUGGESTION

REGARDS
SURESH.P
adarha t n December 31, 2009 at 5:48 am: I need all tax rate & when we have to return file,Rules & Regulation’s.
Plz send it.
BALBIR SINGH December 31, 2009 at 11:04 pm: If any body joins in 1st Sept 2009 in company . How many months income tax should be calculate, for 8 months or full year.

Thanks

Regards

Balbir Singh
kishor ayar January 6, 2010 at 6:45 am: i have borrowed a home loan on second home after repaying a first home borrowed home loan in previous year.
pl sir guide whether i can avail the tax benefit on second home or not??
second home is in the name of my wife and we have borrowed loan of 1050000 jointly. i m the main applicant and she is the co-applicane and she pays EMI from his salary.
can i avail tax benefit on this borrowed home loan??
Saurabh January 6, 2010 at 6:50 am: Hi,

I Joined Company in Oct-09 and My Total Salary is 162000/-
Monthly Salary Details as below
Basic Salary—- 3,750.00
HRA————- 1,875.00
Conveyance Allowance——– 800.00
Holiday Allowance——– 313.00
Adv Monthly Perfr. bonus ——–2,700.00
Lifestyle Allowance——– 2,419.00
Advance Statuatory Bonus ——-700.00

Please Tell me how much Income tax I should pay

Regards
Saurabh
BHASKARA RAO January 21, 2010 at 12:25 am: PLEASE TELL ME EXEMPTION LIMIT ON TOTAL SALARY.
Prasanta Nayak January 27, 2010 at 2:57 am: Hi,
A new staff joined in our company in jan-2010.His net salary is 16447,how can i deduct tax from his salary.please help me.

Prasanta
vineet singh February 4, 2010 at 11:37 pm: SALARY DETAILS NAME : Mr. Vineet Singh

COMPONENTS Rs. Remarks

Monthly – direct
Basic salary 14400.00
HRA 7200.00
Conveyance 3600.00
Spl.Allowance 333.00
Performance incentive (paid quarterly) 7600.00

TOTAL DIRECT 33133.00

Monthly – indirect
PF 1728.00

TOTAL INDIRECT 1728.00

Total Monthly (Dir + inidrect) 34861.00

Total annualised 418332.00

Annual payments
Medical / health care – reimbursement 5000.00 Will be reimbursed subject to production of voucher / receipts
Medical / insurance 10000.00 Will be reimbursed subject to production of voucher / receipts
LTA 12000.00
Gift coupons 5000.00

Total Annual 32000.00

CTC 450332.00

can you help in accesssing my tax deduction and what salary i will be getting in hand…..thanks for your help…my email id is vin_v4u86@yahoo.co.in
naaz February 19, 2010 at 2:27 am: Hello, we are a 15 people pvt ltd bpo company. I would like to know what should be the salary components and what percentage, how do we calculate this. keeping in mind each employee earns 8000 salary plus 3000 as performance incentive. Is there a format to calculate salary break up and when is the PF compulsory (i mean after 50 employee’s or 20).

Awaiting for your reply. Thank you
INCOME TAX SLABE 2009-10 February 19, 2010 at 5:10 am: please see the attached file