Income tax slab

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Querist : Anonymous

Querist : Anonymous (Querist)

08 April 2013 If my age 60 at january-2014 which type of income tax rate applicable for the FY-2013-14?

sandeepverma

sandeepverma (Expert)
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08 April 2013 u will consider senior citizan because u r 60 year old at the time of return filing

CS RAJESH C.CHOUDHARY

CS RAJESH C.CHOUDHARY (Expert)
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09 April 2013 II. Individual resident who is of the age of 60 years or more but below the age of 80 years at any time during the previous year

i. Where the total income does not exceed Rs. 2,50,000/-. NIL

ii. Where the total income exceeds Rs. 2,50,000/- but does not exceed Rs. 5,00,000/- 10% of the amount by which the total income exceeds Rs. 2,50,000/-.

iii. Where the total income exceeds Rs. 5,00,000/- but does not exceed Rs. 10,00,000/- Rs. 25,000/- + 20% of the amount by which the total income exceeds Rs. 5,00,000/-.

iv. Where the total income exceeds Rs. 10,00,000/- Rs. 125,000/- + 30% of the amount by which the total income exceeds Rs. 10,00,000/-.

Education Cess: 3% of the Income-tax.

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