Mr Jaitely has safely neglected senior citizens who depend only on interest income for a living. Previously a rebate under Section 87A of Rs 5,000 was given for income upto Rs 5,00,000. This has been reduced to Rs 2,500 that too upto Rs 3,50,000. This would mean that a senor citizen declaring an Income of Rs 3,80,000 would pay Rs 4120 as against Rs 3,090 an increase of Rs 1,030 which has been overlooked.
I am attaching a Xl sheet which will indicate this anamoly in case of Senior Citizens.
| SENIOR CITIZENS | |||||||||||
| EXISTING | REVISED | ||||||||||
| Taxable Income | Tax | Rebate | Tax Payable | Cess | Tax Payable | Tax | Rebate | Tax Payable | Cess | Tax Payable | Diffrence |
| 3,00,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 3,10,000 | 1,000 | 1,000 | 0 | 0 | 0 | 500 | 500 | 0 | 0 | 0 | 0 |
| 3,20,000 | 2,000 | 2,000 | 0 | 0 | 0 | 1,000 | 1,000 | 0 | 0 | 0 | 0 |
| 3,30,000 | 3,000 | 3,000 | 0 | 0 | 0 | 1,500 | 1,500 | 0 | 0 | 0 | 0 |
| 3,40,000 | 4,000 | 4,000 | 0 | 0 | 0 | 2,000 | 2,000 | 0 | 0 | 0 | 0 |
| 3,50,000 | 5,000 | 5,000 | 0 | 0 | 0 | 2,500 | 2,500 | 0 | 0 | 0 | 0 |
| 3,60,000 | 6,000 | 5,000 | 1,000 | 30 | 1,030 | 3,000 | 0 | 3,000 | 90 | 3,090 | -2,060 |
| 3,70,000 | 7,000 | 5,000 | 2,000 | 60 | 2,060 | 3,500 | 0 | 3,500 | 105 | 3,605 | -1,545 |
| 3,80,000 | 8,000 | 5,000 | 3,000 | 90 | 3,090 | 4,000 | 0 | 4,000 | 120 | 4,120 | -1,030 |
| 3,90,000 | 9,000 | 5,000 | 4,000 | 120 | 4,120 | 4,500 | 0 | 4,500 | 135 | 4,635 | -515 |
| 4,00,000 | 10,000 | 5,000 | 5,000 | 150 | 5,150 | 5,000 | 0 | 5,000 | 150 | 5,150 | 0 |
| 4,10,000 | 11,000 | 5,000 | 6,000 | 180 | 6,180 | 5,500 | 0 | 5,500 | 165 | 5,665 | 515 |
| 4,20,000 | 12,000 | 5,000 | 7,000 | 210 | 7,210 | 6,000 | 0 | 6,000 | 180 | 6,180 | 1,030 |
| 4,30,000 | 13,000 | 5,000 | 8,000 | 240 | 8,240 | 6,500 | 0 | 6,500 | 195 | 6,695 | 1,545 |
| 4,40,000 | 14,000 | 5,000 | 9,000 | 270 | 9,270 | 7,000 | 0 | 7,000 | 210 | 7,210 | 2,060 |
| 4,50,000 | 15,000 | 5,000 | 10,000 | 300 | 10,300 | 7,500 | 0 | 7,500 | 225 | 7,725 | 2,575 |
| 4,60,000 | 16,000 | 5,000 | 11,000 | 330 | 11,330 | 8,000 | 0 | 8,000 | 240 | 8,240 | 3,090 |
| 4,70,000 | 17,000 | 5,000 | 12,000 | 360 | 12,360 | 8,500 | 0 | 8,500 | 255 | 8,755 | 3,605 |
| 4,80,000 | 18,000 | 5,000 | 13,000 | 390 | 13,390 | 9,000 | 0 | 9,000 | 270 | 9,270 | 4,120 |
| 4,90,000 | 19,000 | 5,000 | 14,000 | 420 | 14,420 | 9,500 | 0 | 9,500 | 285 | 9,785 | 4,635 |
| 5,00,000 | 20,000 | 5,000 | 15,000 | 450 | 15,450 | 10,000 | 0 | 10,000 | 300 | 10,300 | 5,150 |
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