Thursday, January 29, 2009

###----Income Tax ( I.T.) Provisions for Senior citizens for the Financial Year ending 31st March 2009 .......

In case of Senior citizens (above 65 years of age)

Total Income Range
Tax Rates
Surcharge
Education Cess (% of I.T)
Secondary and Higher Education Cess


Upto Rs.2,25,000/-
Nil
Nil
Nil
Nil


Rs.2,25,001- Rs. 3,00,000
10% of the amount by which the total Income exceeds Rs. Rs.2,25,000
Nil
2%
1%


Rs.3,00,001- Rs. 5,00,000
Rs.7,500 +20% of amount by which the total Income exceeds Rs.3,00,000
Nil
2%
1%


Above Rs. 5,00,000
Rs.47,500 +30% of amount by which the total Income exceeds Rs.5,00,000
Nil
2%
1%

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