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Discussion > Income Tax > Tax queries >

Slab rate for Senior Citizen...

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s

[ Scorecard : 86]
Posted On 29 September 2010 at 09:30 Report Abuse

What will be the slab rate applicable to a Male individual if he has attained Age of 65yrs

a) on 1st April of P.Yr ?
b) Any time during P.Yr. ?
c) on 31st March of P.yr. ?

What will be the slab rate if it would be an individual Female... ?


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k n v v s k sri kanth


[ Scorecard : 564]
Posted On 29 September 2010 at 10:17

Well i say at all the cases the individual should be treated as a senior citizen and the slab rates are for F.Y.2010-11:

New Income Tax Slabs/Rates for Resident Senior Citizens (FY 2010-11):
Up to Rs 2,40,000-----------------> No tax / exempt
2,40,001 to 5,00,000-------------> 10%
5,00,001 to 8,00,000-------------> 20%
Above 8,00,000-------------------> 30%

Note: Slab rates remains same for both men and woman..........

(here date of birth arrives at 31/3/2010 suppose, then he has already attained his age of 65 on previous day i.e., 30/3/2010 so he is in 66th year running on 31/3/2010. So, he is a senior citizen acc. to I.T.ACT)

 

Regards





Harpreet
* * * * * *

[ Scorecard : 1628]
Posted On 29 September 2010 at 10:23

Agreed with above reply



Total thanks : 1 times



MudraMantri
Wantapreneur

[ Scorecard : 472]
Posted On 29 September 2010 at 10:40

Senior citizen means the person who has attained the age of 65 years at any time during the PY and includes a person who is above the age of 65 years. Further the act does not make any diff between a senior women and a senior men, therefore the taxable limit will be same for both of them which is 2,40,000 Rs for py 2009-10




sachin kakkar
CA

[ Scorecard : 183]
Posted On 29 September 2010 at 12:11

New Income Tax Slabs/Rates for Resident Senior Citizens (FY 2010-11):
Up to Rs 2,40,000-----------------> No tax / exempt
2,40,001 to 5,00,000-------------> 10%
5,00,001 to 8,00,000-------------> 20%
Above 8,00,000-------------------> 30%




Santosh
Student ( Final Year - New )

[ Scorecard : 343]
Posted On 29 September 2010 at 12:42

Originally posted by : k n v v s k sri kanth

Well i say at all the cases the individual should be treated as a senior citizen and the slab rates are for F.Y.2010-11:

New Income Tax Slabs/Rates for Resident Senior Citizens (FY 2010-11):
Up to Rs 2,40,000-----------------> No tax / exempt
2,40,001 to 5,00,000-------------> 10%
5,00,001 to 8,00,000-------------> 20%
Above 8,00,000-------------------> 30%

Note: Slab rates remains same for both men and woman..........

(here date of birth arrives at 31/3/2010 suppose, then he has already attained his age of 65 on previous day i.e., 30/3/2010 so he is in 66th year running on 31/3/2010. So, he is a senior citizen acc. to I.T.ACT)

 

Regards


Total thanks : 1 times



CA AYUSH AGRAWAL
PBN-KOL-PUNE-CHENNAI ("A PHILOSOPHER")

[ Scorecard : 25176]
Posted On 29 September 2010 at 13:17

In UR All Cases Senior Citizen Slab is Applicable




NITIN BHATIA
CA FINAL

[ Scorecard : 188]
Posted On 29 September 2010 at 15:39

New Income Tax Slabs/Rates for Resident Senior Citizens (FY 2010-11):
Up to Rs 2,40,000-----------------> No tax / exempt
2,40,001 to 5,00,000-------------> 10%
5,00,001 to 8,00,000-------------> 20%
Above 8,00,000-------------------> 30%




karan challani
article

[ Scorecard : 77]
Posted On 29 September 2010 at 16:33

 i agree with k n v v s k sri kanth...

 



Total thanks : 1 times



shruti
job

[ Scorecard : 127]
Posted On 29 September 2010 at 17:44

pl adv for women below 65 yrs.



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