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Accounting for Indian Tax - Sr. Citizen's?

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  • Accounting for Indian Tax - Sr. Citizen's?


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Answer #1 | 21/12 2013 03:07
1. Pension income is taxable. 2. Senior Citizens: FY:2008-09=RS. 1,80,000 (65+years); FY:2009-10= Rs. 2,25,000 (65+); FY:2010-11= Rs. 2,40,000 (65+); FY:2011-12= 2,50,000 (60+) 3.Accrued interest income procedure is same for every one. It has to be shown year wise. In case of FD or in case of NSC or on any other instrument you have to findout the interest every year after march 31st. and you have to add the same to that year's income.

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