INCOME TAX RATES : F.Y. 2009-10

tax_india

The Income Tax Rates  as per Finance Act 2009 for the FY. 2009-10 are as follows

Rates for Resident Senior Citizens (FY 2009-10):

Up to Rs 2,40,000                                  NIL
2,40,001 to 3,00,000                          10%
3,00,001 to 5,00,00                            20%
Above 5,00,000                                     30%
Rates for Resident Women (below the age of 65 years) (FY 2009-10)

Up to Rs 1,90,000                                  NIL
1,90,001 to 3,00,000                          10%
3,00,001 to 5,00,00                            20%
Above 5,00,000                                     30%

Rates for Other Individuals (FY 2009-10):

Up to Rs 1,60,000                                 NIL
1,60,001 to 3,00,000                         10%
3,00,001 to 5,00,00                           20%
Above 5,00,000                                   30%

 

 

Education cess @3%

 

AMENDMENTS IN MVAT ACT

Last date for submission of PAN to Sales Tax Department has been extended till 31st Jan 09 as per Rule 16. Sub rule (3) of Rule 16 has been included in the MVAT Act. As per this sub rule those trader whose have been registered on 01/08/2007 and do not have intimated the PAN (of Income Tax Act) to the sales tax department should compulsory intimate it to the department on or before 31st Jan 2009. Whereas those traders who have not PAN card should apply for it and intimate it to the department on or before 31st Jan 2009.( Circular no. 39T/2008)