Provisions of Income-tax for F.Y.2007-08 vis-à-vis A.Y.2008-09.

1. Rates of tax for Individual, Resident of India (below age of 65 years), HUF, AOP/BOI,AJP

Where total income does not exceed Rs.1,10,000	NIL
Where total income exceeds Rs.1,10,000 but does not exceed Rs.1,50,000	10% of the amount by which the total income exceeds Rs.1,10,000;
Where total income exceeds Rs.1,50,000 but does not exceed Rs.2,50,000	Rs.4,000 + 20% of the amount by which the total income exceeds Rs.1,50,000;
Where the total income exceeds Rs.2,50,000	Rs.24,000 + 30% of the amount by which the total income exceeds Rs.2,50,000;

2. Rates of tax for Individual woman, Resident of India (below age of 65 years)

Where total income does not exceed Rs.1,45,000	NIL
Where total income exceeds Rs.1,45,000 but does not exceed Rs.1,50,000	10% of the amount by which the total income exceeds Rs.1,45,000;
Where total income exceeds Rs.1,50,000 but does not exceed Rs.2,50,000	Rs.500 + 20% of the amount by which the total income exceeds Rs.1,50,000;
Where the total income exceeds Rs.2,50,000	Rs.20,500 + 30% of the amount by which the total income exceeds Rs.2,50,000;

3. Rates of tax for Individual, Resident of India (who is of 65 years age)

Where total income does not exceed Rs.1,95,000	NIL
Where total income exceeds Rs.1,95,000 but does not exceed Rs.2,50,000	20% of the amount by which the total income exceeds Rs.1,95,000;
Where the total income exceeds Rs.2,50,000	Rs.11,000 + 30% of the amount by which the total income exceeds Rs.2,50,000;

Surcharge :

(i) for Individual, HUF, AOP&BOI : (if Total income exceeds Rs.10 lakh be reduced by amount of rebate of I.T.calculated under Chap.VIII-A,I.T.so reduced be increased by Surcharge)

On the amount of income-tax Provided that the total amount payable as I.T. and S.C. on such income shall not exceed the total amount payable as I.T. on a total income of Rs.10 lacs by more than the amount of income that exceeds Rs.10 lakh.

10%

(ii) for A.J.P : 10%