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Tax slab 2014-15

Rajni Ratnesh (11 Points)

06 February 2023

what is tax slab for senior citizens for A.Y. 2014-15

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Aisha (Finance Professional) (7547 Points)
Replied 06 February 2023

The tax slabs for senior citizens for the Assessment Year 2014-15 (Financial Year 2013-14) were as follows:

Taxable income up to Rs. 2,50,000: Nil
Taxable income between Rs. 2,50,000 and Rs. 5,00,000: 10% of the amount by which the taxable income exceeds Rs. 2,50,000
Taxable income between Rs. 5,00,000 and Rs. 10,00,000: Rs. 25,000 + 20% of the amount by which the taxable income exceeds Rs. 5,00,000
Taxable income above Rs. 10,00,000: Rs. 125,000 + 30% of the amount by which the taxable income exceeds Rs. 10,00,000

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CA Rashmi Gandhi (Chartered Accountant) (86220 Points)
Replied 06 February 2023

(i) In the case of senior citizen less than eighty years at any time during the previous year,—
Upto Rs. 2.5 lakhs- Nil.
Rs. 2.5 lakhs to Rs. lakhs - 10%
Rs. 5 lakhs to Rs.10 lakhs- 20% Above Rs. 10 lak - 30%

(ii) Senior Citizen More than 80 years
Upto Rs. 5 lakhs - Nil Rs. 5 lakhs to Rs. 10 lakhs - 20% Above Rs. 10 lakhs -30%

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