Taxation confusion ????????????????

Thanks a lot

thanks a lot, everyone

For any other individual, every HUF/AOP/BOI/artificial juridical person

Up to Rs. 1,60,000 Nil
Rs. 1,60,000 – Rs. 3,00,000 10% of (total income minus Rs. 1,50,000)
Rs. 3,00,000 – Rs. 5,00,000 Rs. 14,000 + 20% of (total income minus Rs.
3,00,000)
Above Rs. 5,00,000 Rs. 54,000 + 30% of (total income minus Rs.
5,00,000)

For resident senior citizen (who is 65 years or more at any time during the previous year)

Up to Rs. 2,40,000 Nil
Rs. 2,40,000 – Rs. 3,00,000 10% of (total income minus Rs. 2,40,000)
Rs 3,00,000 – Rs 5,00,000 Rs 6,000 + 20% (total income minus Rs. 3,00,000)
Above Rs. 5,00,000 Rs. 46,000

For resident woman (who is below 65 years at any time during the previous year),

Up to Rs. 1,90,000 Nil
Rs. 1,90,000 – Rs. 3,00,000 10% of (total income minus Rs.
1,90,000)
Rs. 3,00,000 – Rs. 5,00,000 Rs. 11,000 + 20% of (total income
minus Rs. 3,00,000)
Above Rs. 5,00,000 Rs. 51,000 + 30% of (total income
minus Rs. 5,00,000)

Visit ICAI.ORG for further notification tfor exams

All the best

poornima is correct...

Mr Student Way To CA,

First answer to your question is that AY 2010 - 11 is applicable for May 2010 exam. Secondly the Budget given by our Hon FM on 26th Feb is just presentaion of Budget proposal & Not passing or approval of Budget, which will be done & budget taken as passed only when it gets an accent from the Hon President of India.

Now coming to your misunderstanding is that atleast I dont know when & where is that given that the exempt income limit is raised to 3.00 Lakhs. What I know as mentioned in the Budget is that the Income Tax rate  @ 10% which was till 31.03.2010 ( i.e AY 2010 - 11 ) from Basic ( as applicable in case of Normal assessee/ladies/senior ctzn as applicable from Basic exemption  to 3.00 Lkhs has been has been increased to 5.00 Lkhs instead of 3.00 Lkhs.

Friends you all here are highly learned people & so I may be wrong in interpreting so pls correct  me if my answer is wrong.

had the same confusion too...well thanks every one....