IncomeTax in India for 2008-09.

Income Tax Provisions for the Financial Year ending 31st March 2009 and Tax Benefits from Life Insurance.
(A) Income Tax Rates for FY 2008-09:


I) For any individual other than referred to in Item no II and III below.

Total Income Range	Tax Rates	Surcharge	Education Cess (% of I.T)	Secondary and Higher Education Cess
Upto Rs.1,50,000/-	Nil	Nil	Nil	Nil
Rs.1,50,001- Rs. 3,00,000	10% of the amount by which the total Income exceeds Rs.1,50,000	Nil	2%	1%
Rs.3,00,001- Rs. 5,00,000	Rs.15,000 + 20%of amount by which the total Income exceeds Rs.3,00,000	Nil	2%	1%
Above Rs. 5,00,000	Rs.55,000 + 30% of amount by which the total Income exceeds Rs.5,00,000	Nil	2%	1%

(II) In case of resident women below 65 years of age.

Total Income Range	Tax Rates	Surcharge	Education Cess (% of I.T)	Secondary and Higher Education Cess
Upto Rs.1,80,000/-	Nil	Nil	Nil	Nil
Rs.1,80,001- Rs. 3,00,000	10% of the amount by which the total Income exceeds Rs. Rs.1,80,000	Nil	2%	1%
Rs.3,00,001- Rs. 5,00,000	Rs.12,000 + 20% of amount by which the total Income exceeds Rs.3,00,000	Nil	2%	1%
Above  Rs. 5,00,000	Rs.52,000 +30% of amount by which the total Income exceeds Rs.5,00,000	Nil	2%	1%

(III) In case of Senior citizens (above 65 years of age) 

Total Income Range	Tax Rates	Surcharge	Education Cess (% of I.T)	Secondary and Higher Education Cess
Upto Rs.2,25,000/-	Nil	Nil	Nil	Nil
Rs.2,25,001- Rs. 3,00,000	10% of the amount by which the total Income exceeds Rs. Rs.2,25,000	Nil	2%	1%
Rs.3,00,001- Rs. 5,00,000	Rs.7,500 +20% of amount by which the total Income exceeds Rs.3,00,000	Nil	2%	1%
Above  Rs. 5,00,000	Rs.47,500 +30% of amount by which the total Income exceeds Rs.5,00,000	Nil	2%

Which is the Best Life Insurer?And Why?

When we look for the safety of our hard earned money, we deposit it in a bank than to keep it in our home.Nowadays there are growing number of bankruptcy,so everyone of us go for nationalized banks to avoid getting troubles later.What we got is the security of our money?

The same way when a person insures himself or his family,his money and the purpose of the insurance contract is required to be secured.Here in India we have got only one Public Life Insurance company none other than, LIC OF INDIA. As i mentioned from the very beginning, this is the most secured insurer with high yield plans and also the most successful Insurer in India and hold a reputable position in the world.

The Life Insurance Corporation of India was founded in 1956.It is the largest life insurance company in India and also the country's largest investor.It is fully owned by Government of India and also funds close to 24.6% of the Indian Government's expenses.It has assets estimated of 5 Trillion rupees.

Be a part of LIC as a policyholder and enjoy the yield!!!