Income tax slab for financial year 2007-2008 assessment year 20008-2009
Taxable income slab (Rs.) Rate (%)
1,10,000 ( for Individual)NIL1,45,000 (for women)NIL1,85,000 (for senior citizens) NIL
Individuals-other than senior citizens and ladies

Up to 110000- No Tax
110001 to 150000-10%
150001to250000-20%
250001and above-30%
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Ladies other than Senior Citizens
Up to 145000-No Tax
145001 to 150000-10%
150001to250000-20%
250001and above-30%
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Senior Citizens
Up to 195000-No tax
195001to250000-20%
250001and above-30%
Investment u/s 80C eligible [...]

Capital Gains:So far as income from capital gains is concerned, gains arising from transfer of immovable properties are taxed in the country where such properties are situated. Gains arising from the transfer of movable properties forming part of the business property of a ‘permanent establishment ‘or the ‘fixed base’ is taxed in the country [...]