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WHAT IS RATE OF INCOME TAX FOR THE ASS.YEAR 2009-2010?
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Answer Posted / jagadish kumar
Taxable income slab (Rs.) Rate (%)
Up to 1,50,000
Up to 1,80,000 (for women)
Up to 2,25,000 (for resident individual of 65 years or
above) NIL
1,50,001 – 3,00,000 10
3,00,001 – 5,00,000 20
more then 5,00,000 30
A surcharge of 10 per cent of the total tax liability is
applicable where the total income exceeds Rs 1,000,000.
* Education cess is applicable @ 3 per cent on income tax,
inclusive of surcharge if there is any.
* A marginal relief may be provided to ensure that the
additional IT payable, including surcharge, on excess of
income over Rs 1,000,000 is limited to an amount by which
the income is more than this mentioned amount.
* Agricultural income is exempt from income-tax.
| Is This Answer Correct ? | 60 Yes | 14 No |
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