The year in which the income is earn is known as Financial year and the tax assessment take place in the next year hence the year is known as assessment year.rtaes applicable for the financial year applies to the assessment year. 1. Eager to know the Qualification allowance. 2. Education allowance exempted is Rs. 100/- per month per child subject maximum two childs.
The year in which the income is earn is known as Financial year and the tax assessment take place in the next year hence the year is known as assessment year.rtaes applicable for the financial year applies to the assessment year. 1. Eager to know the Qualification allowance. 2. Education allowance exempted is Rs. 100/- per month per child subject maximum two childs.
Re: the slabs for 2010-11 are mismatching with the union budget,
by GAUTAM GUPTA on Mar 24, 2010 07:24 PM
Yours is for Financial year 2010-11, whose assessment year is 2011-12
Re: Qualification Allowance
by sk ms on Mar 22, 2010 12:57 PM
This is amazing how people make up things and publish !. Qualification Allowance ? I googled it for Tax and didnt find any relevant links related to Income Tax. A faintly remember a friend who used to ask money from his old grandmother saying that he need that for buying timetable. Yes timetable :)Is this something like that . If Qualification Allowance is real please provide some details.
Re: Re: Qualification Allowance
by shalini prasad on Mar 22, 2010 02:22 PM
Only thing I know is you can claim any interest paid towards the higher education (full time graduate/post-graduate(eng, med, mba, applied/pure science)) for yourself, spouse or children under sec. 80E
You seem to be having very poor publishing standards Rediff. The information provided by you is seriously incorrect. Tax slabs given by you are for the assessment year 2009-10, not for 2010-11. For the coming FY 2010-11, the slab is like:
1.6-5 lac its 10 % 5 - 8 lac its 20 % 8 lac and above its 30 %
For women the lower limit is higher at 1.9 lakhs and for senior citizens it is much higher at 2.4 lakhs.
Re: Wrong Information
by sunil sewlani on Mar 22, 2010 11:37 AM
please correct yourself. The tax slab shown by rediff is correct. The tax slab shown by you is for the assessment year 2011-12 and not for 2010-11
Re: Re: Re: Wrong Information
by Sri Das on Mar 23, 2010 02:18 PM
you are rite...it is applicable for 2010-2011...how come people doesn't understand the budget can come in a forum to discuss something which they are not sure of...as my fried Atul does....hahahaha
Under which section are uniform allowance and qualification allowance exempt please? What are the preconditions?
Also the statement that education allowance is exempt till 2400 pa is not correct. You need to have two children, going to school and spending more than 100 pm each on tuition fees.
how could u guys print this in correct tax slabs......... its shame tht rediff prints without cross checking 1.6-5 lac its 10 % 5 - 8 lac its 20 % 8 lac and above its 30 %
Re: please correct ur tax slabs!!!
by shrikant on Mar 29, 2010 02:30 PM
correct slab is as under.upto 1,60,000/= nil,(1,90,000/= for women below 65 yrs & rs.2,40,000/= for sr citizen. 160001 to 500000/ 10% 500001 to 800000/= 20% above 800001 30%. women 190001 to 500000/= 10%, 500001 to 800000/= 20% above 800001 30% sr citizen 240001 to 500000 10%,500001 to 800000 20% above 800001 30%.
Re: please correct ur tax slabs!!!
by RAJENDRA SAKPAL on Mar 22, 2010 10:23 AM
Before putting comments please check the assessment year mention above the tax slab then make comment. Tax slab you have mentioned is for the assessment year 2011-2012.
Re: Re: please correct ur tax slabs!!!
by James Lamb on Mar 22, 2010 10:40 AM
what is the point in putting tax slabs for AY 2010-11? There are only 10 days left in the year now. That makes the article even worse.
Re: Re: please correct ur tax slabs!!!
by deepak on Mar 22, 2010 11:22 AM
@ Rajendra.... if u dont knwo the facts tehn dont comment.... please cross check for 2010-2011 slabs.... i have given u facts from recnet budget.... dont make ur self look stupid by commenting
