New Tax Slabs

In the union budget for financial year 2008-09, the Finance Minister has announced the new tax slabs.

General
Till 1,50,000 – 0%
1,50,000 – 3,00,000 – 10%
3,00,000 – 5,00,000 – 20%
Above 5,00,000 – 30%

Women
Till 1,80,000 – 0%
1,80,000 – 3,00,000 – 10%
Remaining tax rates are same as general

Senior Citizen
Till 2,25,000 – 0%
2,25,000 – 3,00,000 – 10%
Remaining tax rates are same as general

This would be a welcome relief to crores of tax payers in the country who are caught under inflation woes.