-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 KLuEx+3JsVVjNYNpa9Tv/Z62s4nfVbD0CnsvqDfFvdwXduC6NGb5nOID4+k8npRA
 JQNWXd3wtYRUlpQl9MP4Yg==

<SEC-DOCUMENT>0001305014-08-000166.txt : 20080617
<SEC-HEADER>0001305014-08-000166.hdr.sgml : 20080617
<ACCEPTANCE-DATETIME>20080617135102
ACCESSION NUMBER:		0001305014-08-000166
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20080613
FILED AS OF DATE:		20080617
DATE AS OF CHANGE:		20080617

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ASHLAND INC.
		CENTRAL INDEX KEY:			0001305014
		STANDARD INDUSTRIAL CLASSIFICATION:	WHOLESALE-CHEMICALS & ALLIED PRODUCTS [5160]
		IRS NUMBER:				200865835
		STATE OF INCORPORATION:			KY
		FISCAL YEAR END:			0930

	BUSINESS ADDRESS:	
		STREET 1:		50 EAST RIVERCENTER BLVD., 16TH FLOOR
		CITY:			COVINGTON
		STATE:			KY
		ZIP:			41012
		BUSINESS PHONE:		859-815-3483

	MAIL ADDRESS:	
		STREET 1:		50 EAST RIVERCENTER BLVD., 16TH FLOOR
		CITY:			COVINGTON
		STATE:			KY
		ZIP:			41012

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	New EXM Inc.
		DATE OF NAME CHANGE:	20041004

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			WATERS FRANK L
		CENTRAL INDEX KEY:			0001166069

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-32532
		FILM NUMBER:		08902765

	BUSINESS ADDRESS:	
		STREET 1:		500 DIEDERICH BLVD
		CITY:			RUSSELL
		STATE:			KY
		ZIP:			41169
		BUSINESS PHONE:		606 329 3823
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>doc.xml
<DESCRIPTION>PRIMARY DOCUMENT
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2008-06-13</periodOfReport>

    <issuer>
        <issuerCik>0001305014</issuerCik>
        <issuerName>ASHLAND INC.</issuerName>
        <issuerTradingSymbol>ASH</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001166069</rptOwnerCik>
            <rptOwnerName>WATERS FRANK L</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>5200 BLAZER PARKWAY</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>DUBLIN</rptOwnerCity>
            <rptOwnerState>OH</rptOwnerState>
            <rptOwnerZipCode>43017</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Vice President</officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>162</value>
                    <footnoteId id="F1"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>8</value>
                    <footnoteId id="F2"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>401(k)</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>565</value>
                    <footnoteId id="F3"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>LESOP</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Common Stock Units</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>0</value>
                <footnoteId id="F4"/>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2008-06-13</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>J</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F5"/>
            </transactionCoding>
            <transactionTimeliness>
                <value></value>
            </transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>144</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>53.92</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F5"/>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F5"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>144</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>34377</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F5">Common Stock Units acquired pursuant to Ashland's Deferred Compensation Plan as of 6-13-08, and exempt under Rule 16b-3(d).  (One (1) Common Stock Unit in the Deferred Compensation Plan is the equivalent of one (1) share of Ashland Common Stock.)</footnote>
        <footnote id="F4">1-for-1</footnote>
        <footnote id="F2">Based on Employee Savings Plan information as of 6-13-08, the latest date for which such information is reasonably available.</footnote>
        <footnote id="F3">Shares accrued under Ashland's Leveraged Employee Stock Ownership Plan as of 6-13-2008.</footnote>
        <footnote id="F1">33 of these shares are held in Ashland's Open Enrollment Dividend Reinvestment and Stock Purchase Plan as of 6-13-08.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>David B. Mattingly, Attorney-in-Fact</signatureName>
        <signatureDate>2008-06-17</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----