Hello Friends,
Can anybody send me All benefits regarding exemptions, deductions, reliefs,etc available to Senior Citizens in The Income Tax Act, 1961 for A.Y. 2009-2010 and 2010-2011.
Its urgent.
Tks in advance
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Benefits Available to Senior Citizens
Replies (2)
Dear Jitendra,
Benegits to Senior Citizen
1) Slab Benefit -
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(III) In the case of every individual, being a resident in India, who is of the age of sixty-five years or more at any time during the previous year,—
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Rates of income-tax
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(1)
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where the total income does not exceed Rs. 2,25,000
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Nil;
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(2)
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where the total income exceeds Rs. 2,25,000 but does not exceed Rs. 3,00,000
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10 per cent of the amount by which the total income exceeds Rs. 2,25,000;
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(3)
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where the total income exceeds Rs. 3,00,000 but does not exceed Rs. 5,00,000
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Rs. 7,500 plus 20 per cent of the amount by which the total income exceeds Rs. 3,00,000;
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(4)
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where the total income exceeds Rs. 5,00,000
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Rs. 47,500 plus 30 per cent of the amount by which the total income exceeds Rs. 5,00,000
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2) Mediclaim Benefit u/s 80D - 20,000 (as against rs. 15,000)
3)MEDICAL TREATMENT U/S 80DDB - 60,000 (as against 40,000)
4) Deduction u/s 80 C on deposit under the Senior Citizens Savings Scheme Rules, 2004;
3) Form15H - for lower or no deduction of TDS
i tnk tat is all is avl for a senior citizen as quoted by Amir
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