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Slab rate for Senior Citizen...
a) on 1st April of P.Yr ?
Replies (11)
Well i say at all the cases the individual should be treated as a senior citizen and the slab rates are for F.Y.2010-11:
New Income Tax Slabs/Rates for Resident Senior Citizens (FY 2010-11):
Up to Rs 2,40,000-----------------> No tax / exempt
2,40,001 to 5,00,000-------------> 10%
5,00,001 to 8,00,000-------------> 20%
Above 8,00,000-------------------> 30%
Note: Slab rates remains same for both men and woman..........
(here date of birth arrives at 31/3/2010 suppose, then he has already attained his age of 65 on previous day i.e., 30/3/2010 so he is in 66th year running on 31/3/2010. So, he is a senior citizen acc. to I.T.ACT)
Regards
Agreed with above reply
Senior citizen means the person who has attained the age of 65 years at any time during the PY and includes a person who is above the age of 65 years. Further the act does not make any diff between a senior women and a senior men, therefore the taxable limit will be same for both of them which is 2,40,000 Rs for py 2009-10
New Income Tax Slabs/Rates for Resident Senior Citizens (FY 2010-11):
Up to Rs 2,40,000-----------------> No tax / exempt
2,40,001 to 5,00,000-------------> 10%
5,00,001 to 8,00,000-------------> 20%
Above 8,00,000-------------------> 30%
| Originally posted by : k n v v s k sri kanth | ||
 |
Well i say at all the cases the individual should be treated as a senior citizen and the slab rates are for F.Y.2010-11: New Income Tax Slabs/Rates for Resident Senior Citizens (FY 2010-11): Up to Rs 2,40,000-----------------> No tax / exempt 2,40,001 to 5,00,000-------------> 10% 5,00,001 to 8,00,000-------------> 20% Above 8,00,000-------------------> 30% Note: Slab rates remains same for both men and woman.......... (here date of birth arrives at 31/3/2010 suppose, then he has already attained his age of 65 on previous day i.e., 30/3/2010 so he is in 66th year running on 31/3/2010. So, he is a senior citizen acc. to I.T.ACT) Regards |
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In UR All Cases Senior Citizen Slab is Applicable
New Income Tax Slabs/Rates for Resident Senior Citizens (FY 2010-11):
Up to Rs 2,40,000-----------------> No tax / exempt
2,40,001 to 5,00,000-------------> 10%
5,00,001 to 8,00,000-------------> 20%
Above 8,00,000-------------------> 30%
i agree with k n v v s k sri kanth...
pl adv for women below 65 yrs.
| Originally posted by : shruti | ||
|
|
pl adv for women below 65 yrs. |
|
New Income Tax Slabs/Rates for Resident Women (below the age of 65 years) (FY 2010-11):
Up to Rs 1,90,000-----------------> No tax / exempt
1,90,001 to 5,00,000-------------> 10%
5,00,001 to 8,00,00--------------> 20%
Above 8,00,000------------------> 30%
New Income Tax Slabs/Rates for Others & Men (FY 2010-11):
Up to Rs 1,60,000 ------------------> No tax / exempt
1,60,001 to 5,00,000---------------> 10%
5,00,001 to 8,00,000--------------> 20%
Above 8,00,000--------------------> 30%
thnx for those who supported my answer:
Harpreet
Santosh
karan challani
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