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Useful Information

1. Relevant Dates for filing of income tax return

If the assessee is a individual or HUF	31st July of Assessment Year
If the assessee is a company or any person whose accounts are required to be audited	30th Sep. of Assessment Year

2. Tax Rates

(i) For Individuals (other then Female and Senior Citizen), HUF, AOP,BOI

For A.Y.2008-2009

Income Slab	Rates of Income Tax
Up to Rs. 1,10,000/-	Nil
Rs. 1,10,001 to Rs. 1,50,000	10 Percent of the amount by which the total income exceeds Rs.1,10,000/-
Rs.1,50,001 to Rs. 2,50,000	Rs.4000+20% of the amount by which the total income exceeds Rs.1,50,000/-
Rs.2,50,001 and Above	Rs.24,000+30% of the amount by which the total income exceeds Rs.2,50,000/-

For A.Y. 2009-2010

Income Slab	Rates of Income Tax
Up to Rs. 1,50,000/-	Nil
Rs. 1,50,001 to Rs. 3,00,000	10 Percent of the amount by which the total income exceeds Rs.1,50,000/-
Rs.3,00,001 to Rs. 5,00,000	Rs.15,000+20% of the amount by which the total income exceeds Rs.3,00,000/-
Rs.5,00,001 and Above	Rs.55,000+30% of the amount by which the total income exceeds Rs.5,00,000/-

(ii) For Women Resident (Below the age of 65 Years)

For A.Y. 2008-2009

Income Slab	Rates of Income Tax
Up to Rs. 1,45,000/-	Nil
Rs. 1,45,001 to Rs. 1,50,000	10 Percent of the amount by which the total income exceeds Rs.1,45,000/-
Rs.1,50,001 to Rs. 2,50,000	Rs.500+20% of the amount by which the total income exceeds Rs.1,50,000/-
Rs.2,50,001 and Above	Rs.20,500+30% of the amount by which the total income exceeds Rs.2,50,000/-

For A.Y. 2009-2010

Income Slab	Rates of Income Tax
Up to Rs. 1,80,000/-	Nil
Rs. 1,80,001 to Rs. 3,00,000	10 Percent of the amount by which the total income exceeds Rs.1,80,000/-
Rs.3,00,001 to Rs. 5,00,000	Rs.12,000+20% of the amount by which the total income exceeds Rs.3,00,000/-
Rs.5,00,001 and Above	Rs.52,000+30% of the amount by which the total income exceeds Rs.5,00,000/-

(iii) For Senior Citizens (Above the age of 65 Years)

For A.Y. 2008-2009

Income Slab	Rates of Income Tax
Up to Rs. 1,95,000/-	Nil
Rs. 1,95,001 to Rs. 2,50,000	20 Percent of the amount by which the total income exceeds Rs.1,95,000/-
Rs.2,50,001 and Above	Rs.11,000+30% of the amount by which the total income exceeds Rs.2,50,000/-

For A.Y. 2009-2010

Income Slab	Rates of Income Tax
Up to Rs. 2,25,000/-	Nil
Rs. 2,25,001 to Rs. 3,00,000	10 Percent of the amount by which the total income exceeds Rs.2,25,000/-
Rs.3,00,001 to Rs. 5,00,000	Rs.7,500+20% of the amount by which the total income exceeds Rs.3,00,000/-
Rs.5,00,001 and Above	Rs.47,500+30% of the amount by which the total income exceeds Rs.5,00,000/-

Surcharge @ 10% of Income Tax if Income exceed Rs 10,00,000/-.
Education Cess @ 2% of Income Tax (including Surcharge thereon) on all assessees.
S.H.E.C. @ 1% of Income Tax (including Surcharge thereon) on all assessees.

(iv) For Partnership Firms and Company

For A.Y. 2008-2009 & 2009-2010

Assessment Year	Surcharge	Education Cess
30% on whole of Income	10% of Income Tax if income exceeds Rs. 1 Crore	2% of Income Tax (including Surchage thereon) and Additional S.H.E.C.@ 1% on all Assessees.

(v) For Co-Operative Society

A.Y. 2008-2009 & 2009-2010

Income Slab	Rates of Income Tax
Up to Rs. 10,000/-	10% of total income
Rs. 10,001 to Rs. 20,000	Rs. 1,000 +20% of the amount by which the total income exceeds Rs.10,000
Rs.20,001 and above	Rs.3,000+30% of the amount by which the total income exceeds Rs.20,000

3. Hints For Tax Planning

Savings which gives you income tax benefit.

Investment in national saving certificate
Investment in insurance policy
Investment in public provident fund
Investment in mutual funds
Investment in five years fixed deposit
Payment of housing loan installment ( Principle Amount )
Payment of school fees
Payment for mediclaim

Don't ignore children school fee certificate

4. Return Forms

New ITR Forms	Subject
ITR 1	For Individual having income from salary and interest.
ITR 2	For Individual and HUF not having Business or Profession income.
ITR 3	For Individual HUF being partners in firms and not carrying out business or profession under any proprietorship.
ITR 4	For Individual having income from Proprietory business or profeesion
ITR 5	For Firms, AOP's and BOI's
ITR 6	For Companies other than companies claming exemption U/s 11.
ITR 7	For person including companies required to furnish return U/s 139 (4A)/(4B)/ (4C)/(4D).
ITR 8	Return of Fringe Benefit.

5. Permanent Account Number

Applicability
» Whose income is chargeable to tax.
» Whose turnover or gross receipts from Business or Profession are likely to exceed Rs. 5 lakhs during the year.
» Any employer who is liable to furnish fringe benefit tax return.

Pan Form

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