If Mrs.K is Non Resident & her income is RS.267000 than,
frm wat her taxable income will start 190000 OR 160000 FOR (AY 2010-11)??????
my faculty told me It's 160000 as she is non resident is it TRUE?????
Yes.....For Non-resident Women / Senior citizen the basic exemption will be Rs. 160000/- only....
Rs. 190000 for Resident Women and Rs.240000 for Resident senior Citizen....
Your faculty is right.....
Is it given in module OR in any ref. book????
the slab rate of 160000 is apply to any invidual (i.e both resident or non- resident individual) if they are not woman resident below the age of 65 or resident individual above the age of 65year
Daya is correct just want to do some additions in his answer. Not only for individuals except woman and senior citizens but this general slab is also apply to HUF.
| Originally posted by : Utsav | ||
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Is it given in module OR in any ref. book???? |
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Utsav,
Check out Paragraph A-(I) of Part III to the First Schedule of the Finance Act 2009.
it mentions every individual, there is no distiction made between Resident & Non-Resident.
Unlike in case of Paragraph A-(II) Paragraph A-(III) of Part III to the First Schedule of the Finance Act 2009, wherein there is a specific mention of the residential status
Thanks for that Post mr.Rachit....
CAclubindia
