The new tax slabs applicable from April 1, 2009 areas follows:
On all incomes up to Rs. 1,60,000 per year. (Forwomen -Rs. 1,90,000 and for senior citizens - Rs.2,40,000), no Income Tax is applicable.
From 1,60,001 - 3,00,000 : 10% of amount morethan Rs. 1,60,000/- ( The lower limit differsappropriately for women as well as senior citizens)
From 3,00,001 to 5,00,000 : 20% of amount morethan Rs. 3,00,000 + 14,000 (slightly less forwomen and further less for senior citizens)
Above 5,00,000 : 30% of amount more than Rs.5,00,000 + 54,000 (for women
slightly less andfor senior citizens - further less)