I am new to this forum please any body help. What is the Tax slab (Capital gains and Income Tax with example)
The tax slab are as listed below...Effective FY 2007-08
Men
1-110000 - Tax Nil
110000-150000 - Tax 10% on Difference between income and 1.5Lac
150000-250000 - Rs. 4000 + Tax on 20% of Diff between income and 2.5
250000 and above - Rs. 24000+ Tax on 30% of diff between income and 2.5
Senior Citizen
1-195000 - Tax Nil
195000-250000 - Tax on 20% of Diff between income and 2.5
250000 and above - Rs. 11000+ Tax on 30% of diff between income and 2.5
Women
1-145000 - Tax Nil
145000-150000 - Tax on 10% of Diff between income and 1.5
150000-250000 - Rs. 500 + Tax on 20% of Diff between income and 2.5
250000 and above - Rs. 20500+ Tax on 30% of diff between income and 2.5
The above caluclated tax would be increased by 3 % education cess in all the cases....
The Capital gain on short term capital gain from equities is 10% and on LTCg is Nil.....