How to easily calculate Income tax slab for financial year 2007 - 2008 in India?

Below is all the information for you to easily calculate Income tax slab for financial year 2007-2008 assessment year 2008-2009 as per the Indian Income Tax Department publications.

Taxable income slab (Rs.) Rate (%)
1,10,000 (individuals other than women/senior citizens) NIL
1,45,000 (for women) NIL 1,85,000 (for senior citizens) NIL
1,10,001 - 1,50,000 10% 1,50,001 - 2,50,000 20%
2,50,001 upwards 30% 10,00,000 upwards 30%* *
A surcharge of 10% on income tax is levied where taxable income exceeds Rs. 1 million which makes it effective 33% including surcharge

For individuals resident woman {not being a senior citizen (who is of 65 years or more at anytime during the previous year)}

Net income range income tax rate
Upto 145000 nil
145000 to 150000 10% of (TI-145000) + 3% education cess
150000 to 250000 500+20% of (TI-150000) +3% education cess
250000 to 1000000 20500+30% of (TI- 250000) +3% education cess
above 1000000 245500+30%of (TI-1000000) +10% of income tax Surcharge + 3% of income tax and surcharge

For resident senior citizen (who is of 65 years or more at anytime during the previous year)
upto 195000 nil
195001 to 250000 20% of (TI-195000)+3% edu cess
250001 to 1000000 11000+30% of (TI- 250000)+3% edu cess
above 1000000 236000+30% of (TI- 1000000)+10% sc +3% edu cess For any other individual, every HUF/AOP/BOI/Artificial juridical person
upto 110000 nil
110000 to 150000 10%of (TI - 110000)+3% ec
150001 to 250000 4000+20% of (TI-150000)+3% ec
250001 to 1000000 24000+30% of(TI- 250000)+3%ec
above 1000000 249000+30% of (TI-1000000)+10% sc+3%ec*
ec Education Cess*
sc Surcharge*
TI Toal Income

Individuals-other than senior citizens and ladies

Up to 110000- No Tax
110001 to 150000-10%
150001to250000-20%
250001and above-30%

Ladies other than Senior Citizens
Up to 145000-No Tax
145001 to 150000-10%
150001to250000-20%
250001and above-30%

Senior Citizens
Up to 195000-No tax
195001to250000-20%
250001and above-30%
Investment u/s 80C eligible for deduction from income-Rs.100000