Tax slab applicable for 60 years employees
This query is : Resolved
Ajay Sharma
(Querist)
20 August 2014
I like to know about the tax slab for 60 years retired employees?
He/She is 60 years on his retirement.
He/She is 60 years on his retirement.
20 August 2014
Dear Ajay,
The tax slab for senior citizen above the age of 60 years for FY 2014-15 is as under,
Upto Rs. 3,00,000 of income = Zero
From Rs. 3,00,001 to Rs.5,00,000 = 10%
From Rs. 5,00,001 to Rs.10,00,000 = 20%
Above Rs. 10,00,000 = 30%
Note: If Total Income of assessee exceeds Rs.1 crore addition surcharge on tax @10% will be applicable.
The tax slab for senior citizen above the age of 60 years for FY 2014-15 is as under,
Upto Rs. 3,00,000 of income = Zero
From Rs. 3,00,001 to Rs.5,00,000 = 10%
From Rs. 5,00,001 to Rs.10,00,000 = 20%
Above Rs. 10,00,000 = 30%
Note: If Total Income of assessee exceeds Rs.1 crore addition surcharge on tax @10% will be applicable.
Message likes :
1 times
Rupesh Jain
(Expert)
20 August 2014
in current year its a mentin by Mr devanand .
CA P K AGRAWAL
(Expert)
22 August 2014
take 2.5 Lacs instead of Rs. 3 lacs for fy, 13-14
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Depreciation Chart Companies Act
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- MSME disclosure and disallowance
- Issuing of delivery challan by seller of goods
- Taxation of crypto futures in India Fy 2026- 2027
- Transfer of Physical Stock Between Two Proprietorship Concerns
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
