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Slab rate for Senior Citizen...


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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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

 
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* * * * * *


Agreed with above reply


Total thanks : 1 times

 
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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

 
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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%

 
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Student ( Final Year - New )

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

 
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Kolkata-Pune-Mumbai


In UR All Cases Senior Citizen Slab is Applicable

 
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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%

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

 


Total thanks : 1 times

 
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pl adv for women below 65 yrs.

 
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