Union Budget 2010: Tax impact for resident woman below 65 years of age
|
Tax Impact for Resident Woman below 65 years of age
|
||||
|
Gross Total Income (Rs)
|
3,00,000
|
5,00,000
|
||
|
|
A.Y. 2010-11
|
A.Y. 2011-12
|
A.Y. 2010-11
|
A.Y. 2011-12
|
|
Gross Income
|
300000
|
300000
|
500000
|
500000
|
|
Tax Benefit u/s 80C
|
100000
|
100000
|
100000
|
100000
|
|
Tx exemption under Infra Bonds
|
|
20000
|
|
20000
|
|
Net Taxable Income post sec. 80C
|
200000
|
180000
|
400000
|
380000
|
|
Income Exempt from Tax as per slabs
|
190000
|
190000
|
190000
|
190000
|
|
Taxable Amount
|
10000
|
0
|
210000
|
190000
|
|
Amount taxable @ 10%
|
10000
|
0
|
110000
|
190000
|
|
Amount taxable @ 20%
|
0
|
0
|
100000
|
0
|
|
Amount taxable @ 30%
|
0
|
0
|
0
|
0
|
|
Tax Amount Pre-Cess
|
1000
|
0
|
31000
|
19000
|
|
Education cess @3%
|
30
|
0
|
930
|
570
|
|
Total Tax Payable
|
1030
|
0
|
31930
|
19570
|
|
Tax Impact for Resident Woman below 65 years of age
|
||||
|
Gross Total Income (Rs)
|
8,00,000
|
10,00,000
|
||
|
|
A.Y. 2010-11
|
A.Y. 2011-12
|
A.Y. 2010-11
|
A.Y. 2011-12
|
|
Gross Income
|
800000
|
800000
|
1000000
|
1000000
|
|
Tax Benefit u/s 80C
|
100000
|
100000
|
100000
|
100000
|
|
Tx exemption under Infra Bonds
|
|
20000
|
|
20000
|
|
Net Taxable Income post sec. 80C
|
700000
|
680000
|
900000
|
880000
|
|
Income Exempt from Tax as per slabs
|
190000
|
190000
|
190000
|
190000
|
|
Taxable Amount
|
510000
|
490000
|
710000
|
690000
|
|
Amount taxable @ 10%
|
110000
|
310000
|
110000
|
310000
|
|
Amount taxable @ 20%
|
200000
|
180000
|
200000
|
300000
|
|
Amount taxable @ 30%
|
200000
|
0
|
400000
|
80000
|
|
Tax Amount Pre-Cess
|
111000
|
67000
|
171000
|
115000
|
|
Education cess @3%
|
3330
|
2010
|
5130
|
3450
|
|
Total Tax Payable
|
114330
|
69010
|
176130
|
118450
|
|
Tax Impact for Resident Woman below 65 years of age
|
||
|
Gross Total Income (Rs)
|
15,00,000
|
|
|
|
A.Y. 2010-11
|
A.Y. 2011-12
|
|
Gross Income
|
1500000
|
1500000
|
|
Tax Benefit u/s 80C
|
100000
|
100000
|
|
Tx exemption under Infra Bonds
|
|
20000
|
|
Net Taxable Income post sec. 80C
|
1400000
|
1380000
|
|
Income Exempt from Tax as per slabs
|
190000
|
190000
|
|
Taxable Amount
|
1210000
|
1190000
|
|
Amount taxable @ 10%
|
110000
|
310000
|
|
Amount taxable @ 20%
|
200000
|
300000
|
|
Amount taxable @ 30%
|
900000
|
580000
|
|
Tax Amount Pre-Cess
|
321000
|
265000
|
|
Education cess @3%
|
9630
|
7950
|
|
Total Tax Payable
|
330630
|
272950
|
|
Note: Only Sec 80C deduction has been assumed and excess deduction of Rs20000 in Infrastructure bonds in current amendments has not been taken into account and taxation for woman below 65 years.
|
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Source: Economic Times
