I m a female,current salary is Rs 310000,i did a saving of Rs 25000PA,Wat would be my Tax acc to Tax Slabs2007

I m a female, my current salary is Rs 310000 PA,i did the saving of Rs 25000 Per Annum,What would be my Tax according to Tax Slabs2007

I am giving you tax for on Indian Taxation. For us no 2007. Only FY 2007-08 (AY.2008-09). The FY ends on 31.3.2008.

You are a female (<65 years). Your tax exemption limit is Rs.1,45,000 for the current FY.2007-08. Your tax savings are Rs.25,000. Your net taxable income will be Rs.3,10,000 less Rs.25,000. That is Rs.2,85,000.

0,00,000 to 1,45,000 @00% = Rs. NIL
1,45,001 to 1,50,000 @10% = Rs. 00,500
1,50,001 to 2,50,000 @20% = Rs. 20,000
2,50,001 to 2,85,000 @30% = Rs. 10,500
Total Tax=Rs.31,000+Edu.Cess@3%=Rs.930= Rs.31,930

The best way to go about is consulting your nearest TRP(Tax Return Preparer) .. He/she would be able to provide you with full info & would assit you in filing your tax returns & also answer your tax related queries... There is a web site where you can get the details about them..
www.trpscheme.com

For accounting year 2007-08,your tax shall be 38500,without considering savings,as u haven't mentioned kind of savings.

tax is applied on ur annual income ( salary + other sources )
ur annual income it seems is 31000 * 12 =372000
u should first check that is entire amt of salary is taxable if its so u need to pay considerable amt of tax.
mere savings do not help in tax savings .
there are certain options in which u can save upto Rs 100000 known as savings / investments u/s 80C ( this include ppf, insurance policy, etc )
mediclaim etc also help in reducing tax .
for females any income above 145k is taxable.

besides your HR / Personal dept must have been be deductiong ur tds every month

If you want to save your INCOME TAX in 2007-08, then i have a best solution to save you tax.
All you need to do is send your annual income and some details about your saving.
Email
fc.hdfc@gmail.com
(Certified Financial Consultant)