The New Income Tax Slabs in the Budget 2008-2009 are

Exemption upto Rs. 1,50,000 ( earlier it was Rs. 1,10,000 )

From 1.5 L to 3 L - 10 %

From 3 L - 5L - 20 %

Over 5 L - 30 %

For small service providers, the threshold has been raised from Rs. 8 L to Rs 10 L

Females can rejoice, their exemption limit has been further raised to Rs. 1.8 L , I think a good decision. And even better for senior citizens, your exemption limit is now
2.25 L ( earlier 1.95 L )

Check out more updates and reactions on Budget Special @ ITVidya.com

Regards,

Ajay Sanghani

Founder, ITVidya.com

Cell : 098200 20753