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Jinesh Shah (Querist)

27 March 2009 Why is the exemption limit Rs. 1,50,000(in case of individual other than Resident women and Resident Senior Citizen)? I mean, how such limit is derived? Why it can't be Rs. 1,50,005 or some other figure?
How are these slab rates fixed?

Regards,
Jinesh

CA Devanshi Gandhi (Ajani)

CA Devanshi Gandhi (Ajani) (Expert)

28 March 2009 they r fixed by finance minister and announced in budget

Jinesh Shah

Jinesh Shah (Querist)

28 March 2009 What is the pattern to fix them? On which basis are they fixed?

Taranjit Singh

Taranjit Singh (Expert)

29 March 2009 Hello dear, I can say only one thing about your question that slab rates increased due to inflation. For example Rs 50,000 in 1998 is not the same as Rs 50,000 today. Rs 50,000 in 1998 would at least be Rs 75,000 to Rs 80,000 and even more now taking into account the capital gains indexation methodology. So income tax slab rates are increased like at this time Rs.150000.
Have you got an idea what i want to say, please reply me.

Message likes : 1 times

Jinesh Shah

Jinesh Shah (Querist)

29 March 2009 Yes sir,
I got you but in my coaching classes, our sir used to ask this question, for which we never got solution..
Anyways Thank You Sir...

Regards,
Jinesh

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