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What is the SLAB RATE for this person?

29 September 2010

Can any one tell me the TAX SLAB RATE FOR THIS PERSON?

Mr. X who was born during 29-2-1944, where now he needs to file his return for F.Y.2009-10 now can any one give me the tax slab rates of Mr. X for A.Y.2010-11?

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19 Replies

FATEMA (CHARTERED ACCOUNTANT) (719 Points)
Replied 29 September 2010

This individual turns 66 years on 29 Feb 2010.If he is a resident u/s 6 then the slab rates of resident senior citizen will apply otherwise the rates of individual/HUF will apply.

Regards,

Fatema

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k n v v s k sri kanth ( ) (564 Points)
Replied 29 September 2010

but according to the logic he gets his birthday date for every four years so can we treat him that he is a 65 yrs completed person......???? If so acc. to which act or section of IT ACT??? elaborate and suggest your answer with proofs.....??? my dear friend fatema.....

sachin kakkar (CA) (188 Points)
Replied 29 September 2010

senior citizen slab

CA Ayush Agarwal (Kolkata-Pune-Mumbai) (27186 Points)
Replied 29 September 2010

There is No Such Concept in Income Tax Act.

The Person Turn 66 Years of Age,Now He is Senior Citizen.

IT Consider It According to 365 Days Completion.

I Wanna One Answer From U :

That The Person Born on 29Feb, Suppose After 10 Years ,Any One Ask Him To Tell His Age, Then According To U , He Answer Like This That He Completed 4+4 - 8 Years & After 2 Years He Can Tell His Actual Age.

This is Unconceptual.

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(Guest)

HE IS A SENIOR CITIZEN

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CA FaIyaZ PaTrAwaLa (CA) (276 Points)
Replied 29 September 2010

Any resident individuals, who are of the age of 65yrs or more (senior citizens) at ANY TIME DURING THE PREVIOUS YEAR; The basic Exemption limit will be Rs. 2,40,000/- for the A.Y 2010-11 In your case Mr.X is definitely Senior Citizens. Correct me friends if am Wrong.:)

Saurabh Toshniwal (ca final) (2363 Points)
Replied 29 September 2010

Originally posted by : AYUSH AGRAWAL
	There is No Such Concept in Income Tax Act. The Person Turn 66 Years of Age,Now He is Senior Citizen. IT Consider It According to 365 Days Completion. I Wanna One Answer From U : That The Person Born on 29Feb, Suppose After 10 Years ,Any One Ask Him To Tell His Age, Then According To U , He Answer Like This That He Completed 4+4 - 8 Years & After 2 Years He Can Tell His Actual Age. This is Unconceptual.

agree with AYUSH AGRAWAL

Whizkid (student) (640 Points)
Replied 29 September 2010

Originally posted by : AYUSH AGRAWAL
	There is No Such Concept in Income Tax Act. The Person Turn 66 Years of Age,Now He is Senior Citizen. IT Consider It According to 365 Days Completion. I Wanna One Answer From U : That The Person Born on 29Feb, Suppose After 10 Years ,Any One Ask Him To Tell His Age, Then According To U , He Answer Like This That He Completed 4+4 - 8 Years & After 2 Years He Can Tell His Actual Age. This is Unconceptual.

LOL...:D Agree ...:)

Abhay Sethia (stundent) (300 Points)
Replied 29 September 2010

Yes it correct that that heis of 66 years and it is totally base less that he is of 65 yaers on the reasons given.

thanks

abhya

k n v v s k sri kanth ( ) (564 Points)
Replied 29 September 2010

Originally posted by : AYUSH AGRAWAL
	There is No Such Concept in Income Tax Act. The Person Turn 66 Years of Age,Now He is Senior Citizen. IT Consider It According to 365 Days Completion. I Wanna One Answer From U : That The Person Born on 29Feb, Suppose After 10 Years ,Any One Ask Him To Tell His Age, Then According To U , He Answer Like This That He Completed 4+4 - 8 Years & After 2 Years He Can Tell His Actual Age. This is Unconceptual.

Are yaar chill, what i am meant that though its a typical question which i feel as most of the government organizations only has these confusions in many situations as

acc. to POSTAL DEPT. SENIOR CITIZEN must attain 60 years

acc. to IT DEPT. SENIOR CITIZEN must attain 65 years

so from this how can you tell IT DEPT has mentioned that a person age basing on 365 days it just mentioned those days at the time of RESIDENTIAL STATUS OF AN INDIVIDUAL only and can you clarify with the sections in detail my dear friend AYUSH AGRAWAL

Regards

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Santosh (Student ( Final Year - New )) (348 Points)
Replied 29 September 2010

Originally posted by : AYUSH AGRAWAL
	There is No Such Concept in Income Tax Act. The Person Turn 66 Years of Age,Now He is Senior Citizen. IT Consider It According to 365 Days Completion. I Wanna One Answer From U : That The Person Born on 29Feb, Suppose After 10 Years ,Any One Ask Him To Tell His Age, Then According To U , He Answer Like This That He Completed 4+4 - 8 Years & After 2 Years He Can Tell His Actual Age. This is Unconceptual.

Narayanan (Chartered Accountant) (189 Points)
Replied 29 September 2010

Quite an unusual question... but sometimes logic defies all laws... but still if u want legal interpretation, here it goes:

When a term is not defined under the act, generally dictionary meaning is applied... and in case u consult a legal dictionary, it will tell you that a year means 365 days, 5 hours, 48 seconds and a fraction.

So it is now clear that this year is different from our concept of 365/366 round days... and if u apply this logic to the concept, u ll find that the person is already a sr. citizen...

An eccentric answer to a very eccentric question?