Income Tax for the Fin. Year 2009-10(A Y 2010-11)

Budget Highlights for Calculation of Income Tax for the Financial Year 2009-10 (A Y 2010-11)

The changes in the calculation of Income Tax i sunder:
1) No tax up to Inome Rs.1,60,000 ( against Rs 1,50,000) in general Rs. 1,90,000 (against Rs. 1,80,000) for women and Rs. 2,40,000 (against Rs. 2,25,000) for senior citizens.
2) No surcharge for individual tax payers (presently 10% above income Rs.10,00,000)
3) Income Tax Rreturn form made simplified and user-friendly.