Senior citizen income tax a.y. 2014-15 limit

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Bharatkumar Ramanlal Patel

Bharatkumar Ramanlal Patel (Querist)

14 May 2014 I want to know about senior citizen income tax limit

Rupesh Jain

Rupesh Jain (Expert)

14 May 2014 rs. 250000/-
no tax

250000-500000 10%
500000-10 lacs 20%
above 10 lacs 30%

Sandeep Dharar

Sandeep Dharar (Expert)

14 May 2014 • For a resident senior citizen (who is 60 years or more at any time during the previous year but less thar
years on the last day of the previous year, i.e., born during April 1, 1933 and March 31, 1953)—

Net income range j Education cess Secondary and
higher educatior
cess
Up to Rs. 2,50,000 Nil Nil Nil
Rs. 2,50,000 - Rs. 10% of (total income minus Rs. 2,50,000) 2% of income-tax 1% of income-tap
5,00,000
Rs. 5,00,000 - Rs. Rs. 25,000 + 20% of (total income minus 2% of income-tax 1% of income-tap
10,00,000 Rs. 5,00,000)

Above Rs. 10,00,000 Rs. 1,25,000 + 30% of (total income minus 2% of income-tax 1% of income-ta)
Rs. 10,00,000)
• For a resident super senior citizen (who is 80 years or more at any time during the previous year, i.e., bi before April 1, 1933)—

Net income range Income-tax rates Secondary and
higher education
cess
Up to Rs. 5,00,000 Nil Nil Nil
Rs. 5,00,000 - Rs. 20% of (total income minus Rs. 5,00,000) 2% of income-tax 1% of income-tax
10,00,000
Above Rs. 10,00,000 Rs. 1,00,000 + 30% of (total income minus 2% of income-tax 1% of income-tax
Rs. 10,00,000)

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