hi
x dob is 17.02.1952 and his total income is 6lakhs p.a and he will retire as on 28.2.2012.i.e.,60 years
what income tax slab will applicable
<60 years or >60 years
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Income tax slabs
Replies (11)
An assessee is considered to be senior citizen if he attains the age of 65(now 60 from AY 2012-13) at any tym during the previous year(i.e. Financial Year).......
So, in dis case, basic exemption will be of rs. 2,50,000.
Plz correct me if m wrng!
| Originally posted by : CA Sumit Grover | ||
 |
An assessee is considered to be senior citizen if he attains the age of 65(now 60 from AY 2012-13) at any tym during the previous year(i.e. Financial Year)....... So, in dis case, basic exemption will be of2,50,000. Plz correct me if m wrng! |
 |
Agree .....
| Originally posted by : Mansha | ||
|
|
Originally posted by : CA Sumit Grover An assessee is considered to be senior citizen if he attains the age of 65(now 60 from AY 2012-13) at any tym during the previous year(i.e. Financial Year)....... So, in dis case, basic exemption will be of2,50,000. Plz correct me if m wrng! Agree ..... |
|
| Originally posted by : CA Sumit Grover | ||
|
|
An assessee is considered to be senior citizen if he attains the age of 65(now 60 from AY 2012-13) at any tym during the previous year(i.e. Financial Year)....... So, in dis case, basic exemption will be of2,50,000. Plz correct me if m wrng! |
|
AGREED.
Birthday should fall a any time durinbg d relevant previous year....
Originally posted by CA Sumit
An assessee is considered to be senior citizen if he attains the age of 65(now 60 from AY 2012-13) at any tym during the previous year(i.e. Financial Year).......
So, in dis case, basic exemption will be of Rs. 2,50,000.
Plz correct me if m wrng!
Agreed with....
agree with above................
From A.Y. 12 -13(Earlier 65 Years) if the assessee attain the age of 60 during the previous year, then senior citizen slab applicabe (exemption Rs.250000/-)
Hi..
Mr. X will attain the age of 60 on 17.02.2012. so, for F.Y. 2011-2012, he can avail the slab rate of senior citizen and can enjoy the exemption of Rs. 250000/-
Income tax slabs 2011-2012 for Senior citizen (Aged 60 years but less than 80 years)
| Income tax slab (in Rs.) |
Tax |
|---|---|
| 0 to 2,50,000 |
No tax |
| 2,50,001 to 5,00,000 |
10% |
| 5,00,001 to 8,00,000 |
20% |
| Above 8,00,000 |
30% |
he is a senior citizen slab rate applicable for his is 0 to 250000...on wards
An assessee is considered to be senior citizen if he attains the age of 65(now 60 from AY 2012-13) at any tym during the previous year(i.e. Financial Year).......
So, in dis case, basic exemption will be of Rs. 2,50,000
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