What Is The New Tds Rates For 2008-2009 For Calculating Tax For Salaries?
Question by Dr.syamakrishnan G | Posted in India
i would like to identify how to calculate tax for total income as per new budget .say 1,50,000 -no tax.1,50,001 to ???@10%........20%........
Answer: TDS is to be deducted equally over a epoch of 12 months.
slab are up to Rs. 150000=NIL
150001 to 250000 = 10%
250001 to 500000 = 20%
> 500000 = 30%
plus 3 % education cess
Broad:
Up to Rs.150,000--------------NIL
Rs.150,001 to Rs.300,000-----10 per cent
Rs.300,001 to Rs.500,000-----20 per cent
Rs.500,001 and above---------30 per cent
Women:
Up to Rs.180,000--------------NIL
Rs.180,001 to Rs.300,000-----10 per cent
Rs.300,001 to Rs.500,000-----20 per cent
Rs.500,001 and above---------30 per cent
Postpositive major Citizens:
Up to Rs.225,000--------------NIL
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In the