Tax for Men
Upto Rs. 1,50,000/- Nil
Rs. 1,50,001/- to Rs. 3,00,000/- 10 per cent
Rs. 3,00,001/- to Rs. 5,00,000 20 per cent
Above Rs. 5,00,000/- 30 per cent
Tax for Women
Upto Rs. 1,80,000/- Nil
Rs. 1,80,001/- to Rs. 3,00,000/- 10 per cent
Rs. 3,00,001/- to Rs. 5,00,000 20 per cent
Above Rs. 5,00,000/- 30 per cent
Tax for resident individual of 65 years or above
Upto Rs. 2,25,000/- Nil
Rs. 2,25,001/- to Rs. 3,00,000/- 10 per cent
Rs. 3,00,001/- to Rs. 5,00,000 20 per cent
Above Rs. 5,00,000/- 30 per cent
Corporate Tax - Unchanged
Service Tax - No change in service tax rate
Direct Tax
Short-term capital gains tax hiked to 15%
Securities Transactions Tax unchanged
Banking Transaction Tax withdrawn
Central Sales Tax up from 2% to 5%
Bank cash transaction tax to be exempted
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