Multiple choice

Directions: Choose the correct option for the given question.

In basic slabs of Income Tax as proposed in Union Budget 2008-09, the upper limit for the slab having 20% tax now becomes

  1. Rs. 3,00,000

  2. Rs. 4,00,000

  3. Rs. 4,50,000

  4. Rs. 5,00,000
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Under the new income tax slabs proposed in Union Budget 2008-09, the 20% tax bracket was extended up to Rs. 5,00,000. This was an increase from the previous limit, providing relief to middle-income taxpayers. The restructuring aimed to stimulate consumption and reduce tax burden.

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