Exam details- June 2011-ICWAI

(a) Application Forms for Foundation Course, Intermediate and Final Examinations are available from Institute’s Headquarters at 12, Sudder Street, Kolkata, Regional Councils and Chapters of the Institute on payment of Rs. 30/- per form. In case of overseas candidates, forms are available at Institute’s Headquarters only on payment of US $ 10 per form. (b) Students can also download the Examination Form from ICWAI Website at www.icwai.org. In case of downloaded form Rs.30/- should be added extra towards the cost of the form. c) Students can also submit the form online. Last date for receipt of Examination Application Forms without late fees is 11th April, 2011 and with late fees of Rs. 300/- is 20th April, 2011. Examination fees to be paid through Bank Demand Draft of requisite fees drawn in favour of the Institute and payable at Kolkata. Students may submit their Examination Application Forms along with the fees at ICWAI, 12 Sudder Street, Kolkata – 700016 or Regional Offices or Chapter Offices. Any query can be sent to Sr. Director (Examination) at H. Q. Finance Act 2010, involving Assessment Year 2011-2012 will be applicable for the subjects Applied Direct Taxation (Intermediate), Applied Indirect Taxation (Intermediate) and Indirect & Direct – Tax Management (Final) for the purpose of June 2011 term of Examination under Revised Syllabus 2008. Examination Centres : Examination Centres: Agartala, Ahmedabad, Akurdi, Allahabad, Asansol, Aurangabad, Bangalore, Baroda, Berhampur(Ganjam), Bhilai, Bhopal, Bhubaneswar, Bilaspur, Bokaro, Calicut, Chandigarh, Chennai, Coimbatore, Cuttack, Dehradun, Delhi, Dhanbad, Durgapur, Ernakulam, Faridabad, Ghaziabad, Guwahati, Hardwar, Howrah, Hyderabad, Indore, Jaipur, Jabbalpur, Jalandhar, Jammu, Jamshedpur, Jodhpur, Kalyan, Kannur, Kanpur, Kolhapur, Kolkata, Kota, Kottayam, Lucknow, Ludhiana, Madurai, Mangalore, Mumbai, Mysore, Nagpur, Naihati, Nasik, Neyveli, Noida, Panaji (Goa), Patiala, Patna, Pondicherry, Pune, Rajahmundry, Ranchi, Rourkela, Salem, Shillong, Solapur, Surat, Thrissur, Tiruchirapalli, Tirunelveli, Trivandrum, Udaipur, Vapi, Vashi, Vellore, Vijayawada, Vindhyanagar, Waltair and Overseas Centres at Dubai and Muscat. A candidate who is completing all conditions will only be allowed to appear for examination Probable date of publication of result : Foundation – 2nd August 2011 and Inter & Final – 22nd August 2011. Examination Fees Group (s) Final Examination Intermediate Examination Foundation Course Examination One Group (Inland Centres) (Overseas Centres) Rs.950/- US $ 100 Rs.850/- US $ 90 Rs.800/- US $ 60 Two Groups (Inland Centres) (Overseas Centres) Rs.1800/- US $ 100 Rs.1600/- US $ 90 C. Bose  Sr. Director (Examinations)

Last Date of Registration for Post Qualification Course in International Trade Laws & WTO for November 2011 Part I Examinations

Registration for the Course is open throughout the year. Candidates shall be eligible to appear for Part I Examination to the Course only after six months of registration and specified minimum attendance at PCPs currently this examination is held only for November attempt. Therefore, for appearing in the November, 2011 Examinations for Part I of the Course, the last date for taking registration in the Course is APRIL 30, 2011.

For obtaining registration, the Prospectus for the Post Qualification Course in ‘International Trade Laws and World Trade Organisation’, priced at Rs. 150/- (Rs. One Hundred Fifty only), can be obtained from the Institute’s sale counters at New Delhi and the Regional Offices at Mumbai, Chennai, Kolkata & Kanpur and the Branches of the Institute. Copy of Prospectus can also be obtained by post from the Postal Sales Department of the Institute at ICAI Bhawan, A-29, Sector 62, Noida - 201301 (U.P.) India by sending a Demand Draft of Rs. 150/- plus postal charges (Rs. 9 within New Delhi & Rs. 20 for Rest of India, if required by Courier; or Rs. 40/-, if required by registered post) favouring ‘The Secretary, The Institute of Chartered Accountants of India’ payable at New Delhi.

For any further information regarding the Course, please visit the website of the Institute http://www.icai.org .

Rajasthan budget 2011: Government imposes tax worth Rs 500 crore

The government of Rajasthan today imposed a few taxes aimed at earning approximately Rs 500 crore in 2011-12, with raising lands' DLC rates by 15 per cent and increasing urban cess of 5 paise per unit on consumers in municipal areas consuming more than 100 units a month. 

State Chief Minister and Finance Minister Ashok Gehlot presented his third annual Budget in the state assembly today and proposed an annual plan size of Rs 28,461 crore, with a fiscal deficit budget of Rs 8,063 crore for the year 2011-12. 

In order to strengthen civic bodies financially, Gehlot said Urban Cess of 5 paise per unit on consumers in municipal areas consuming more than 100 units per month was increased which is expected to generate a revenue of around 50 crore. 

He said raising District Level Committee (DLC) rates of all types of lands will also generate a revenue of Rs 175 crore. He also raised tax on aviation turbine fuel from 14 per cent to 20 per cent. 

The revenue surplus to be estimated for the stipulated year would be around Rs 352 crore 62 lakh, Gehlot said.

He made an estimated surplus budget of Rs 99.15 crore in the next fiscal with total revenue receipt of Rs 52,287 crore. 

He increased 40 per cent tax on tobacco products and said it was necessary to demoralise the use of tobacco products, considering its effects on its consumers' health. 

Gehlot announced to set up a Rajasthan Infrastructure Development Fund (RTIDF) to fulfil the conditions of Jawahar Lal Nehru Urban Renewable Mission (JNNURM) for execution of activities related with pollution control and making available a planned and safe public transport. 

He proposed to impose 10 per cent tax on one time tax payable under Rajasthan Motor Vehicle Act-1951 on that fund. However, vehicle up to Rs 3 lakh will be exempted from this tax. 

The Chief Minister also proposed to impose 'Green Tax' on all old and new vehicles and revenue collection will be used for pollution control. 

Doling out sops for all the sections of the society, Gehlot announced to exempt fresh fruits, vegetables, all pulses, wheat and rice from the tax bracket and exempted cinema entertainment tax, which earlier was 30 per cent. 

Tax has been reduced from 14 per cent to 5 per cent on electronic milk tester and its parts, welding glass and machine, synthetic industrial diamond powder and gems stone cutting and polishing tools, limestone, desert coolers made of iron body, LED lamps, water storage tanks made of plastic and food served by outdoor caterers. 

Gehlot exempted tax from Jaipuri Rajai, handmade woolen carpets, food being made available from religious organisations and charitable trusts, kerosene through PDS system, articles used in kitchen like gas lighter, disk and rolling pin, etc. 

He proposed to waive interest if businessmen submitted all returns and pending taxes on FY11 by March 31, 2011 and also announced simplification of tax procedures. 

Gehlot also announced to launch E-stamp system at all the seven divisional headquarters, reduced stamp duty rate from 5 per cent to 2 per cent. 

In the begining, the chief minister informed the house that the state budget was first in the country which was prepared by 'integrated financial management system'. 

Under this system, budget proposals were presented to the finance department online and the finance department also finalised the budget proposals by computer.

Income Tax returns mandatory for all candidates facing polls in India

The Election commission (EC) on Wednesday made it mandatory for all the candidates to furnish Income Tax (IT) returns before entering the polls. 

The Election Commission has brought out a new nomination affidavit. 

Candidates will now have to fill a six-page affidavit including details of inherited property along with his or her nomination papers. 

The IT returns and details of properties of the spouse and all the dependents of the candidates will also have to be furnished. 

The EC has taken the decision in consultation with the Central Board of Direct Taxes in order to curb the use of blackmoney and illegal wealth in the electoral process. 

Elections will be held in West Bengal, Assam, Tamil Nadu, Kerala and Pondicherry between April 4 and May 10.

Common Reasons for Rejection of a company name

• Proposed name is not according to the activities described in Main Objects
• Proposed Name is not available in view of the existence of identical or closely resembling

companies.

• Proposed name is too general without any distinct word or identity
• Keywords like Industry/ Udyog, Enterprises, Products, Business, manufacturing may be

considered when the company proposes to deal in various business activities/ the company
already carrying on various business activities (in case of change of name). As your business
activity is in particular trade said keywords cannot be allowed

• Proposed name does not include suitable prefix
• Words like International, Hindustan, India, Bharat, Continental, Asiatic, Corporation will not be

allowed unless the scope and scale of business of the proposed company justify the use of
words

• Proposed name includes words like National, Central, Union, Federal etc which are

considered as undesirable

• Please furnish No Objection by way of Resolution of the Board of the Group of Companies
• Proposed name indicates the partnership or the patronage of any National Leader or of

Government. Please furnish necessary evidence in this regard to consider the matter further

• In case of company taking over business of partnership firm please furnish a copy of the

Partnership deed, latest Assessment order, Balance Sheet of past two years and also Profit
and Loss account. An affidavit signed by all the partners showing that the main objects of the
Company will be to take over the business of present firm and thereafter the firm will be
dissolved.

• For cases of Change of name of company ,Please furnish the following documents/ information

:-
Board resolution of the existing company for change of name and reasons for change of name.
Certified copy of latest Memorandum of Association, Balance Sheet and Profit and Loss
account.

• Present business activities of the company and the proposed activities of the company

specifying the object clause of the Memorandum under which the activities are covered.

• Turnover of the existing companies from the existing activities in the last 1 year.
• Turnover of the existing companies from the proposed activities in the last 1 year (specifying

the exact period) duly certified by Statutory Auditors

• NOC from the out-going promoters if fresh allotted name is being applied as a Change of

Name.

• Whether Form 23 for alteration in the object clause has been registered in ROC office if so

furnish a copy of Certificate issued u/s 18(1) of the Companies Act,1956

• Whether the company has filed its A/R, B/S up to date, if so proof thereof.
• Please also file a power of attorney, if applicable.
• If objects are indicated in the names, the same should correspond to the main objects. As your

main objects differ the name is rejected.

• Annexure/ attachment should be signed, if any
• File the reasons for change of name
• File Board’s resolution, if applicable
• File the present activities of the Company, if applicable
• Modify the main object , if applicable.
• Applicant should be the existing company, File Form 1A in favour of the company with fee.
• Furnish latest copy of the Memorandum & Articles of Association, if applicable.
• Please furnish a certificate from Auditors of the Company that the company has derived a

substantial portion of its income from the new objects inserted by the company in the main

clause of Memorandum & Association

• Furnish copy of Certificates of Change of objects issued u/s 18(1) of the Companies Act, 1956

with altered copy of Memorandum & Articles of Association.

• To clarify the Main objects in details.
• Whether the company is registered with Reserve Bank of India as NBFC.
• Pre- requisites for filing eForm 1A (Name availability):
• Applicant should be the promoter. If not, file revised Form 1A with fee.
• Please write the full names and addresses of the promoters/ remaining promoters duly signed
• Please mention the state in which Registered Office of the Company will be maintained
• Furnish the Main objects
• For registration of a Private Limited and Public Limited company the paid up capital must be
• least Rs.1,00,000 and Rs.5,00,000/- respectively. Please increase the capital according.

The application is to be digitally signed.

Announcement-Certificate Course on Arbitration of the ICAI

The Committee on Economic, Commercial Laws & WTO is planning to organise further Batches* of the Certificate Course on Arbitration at various Cities/Towns in the Regions/Branches during the period April - June 2011.

The objective of this Course is to familiarize the members with the relevant laws which impact the arbitration process and the practical procedural aspects and to build the competency level of the members of the Institute to position them as multidisciplinary consultants in the global service market. The course is targeted at members who are desirous of building their expertise and skills in the area. Apart from the comprehensive theoretical aspects, this course, will also cover practical and procedural aspects of the arbitration process with case studies and mock arbitration proceedings.

The members who are desirous of attending the said Course may convey their interest and also send the Form duly filled at the earliest to the Secretary, CECL & WTO, ICAI Bhawan, Indraprastha Marg, New Delhi-110002 or mail the details at cecl@icai.in; ctlwto@icai.in . For more details please visit www.icai.org.

Note:*The holding of batches are subject to the minimum number of participants as prescribed by the Committee.

Placements 2011 @ IIM-K: Finance continues to be the most preferred sectors

IIM Kozhikode concluded yet another successful year of final placements. The number of job offers company increased by 30 percent, of the total recruiters who came for campus placements 35 percent were new recruiters, which shows increasing faith of companies in IIM-K students. Plethora of roles was offered by various companies who visited the campus for placements. Finance continued to be the top preference among students and various foreign financial institutions recruited from IIM-K. A detailed overview…

  Finance: Finance continued to remain the top preference among students with more than 33% of the batch taking up roles ranging from Investment Banking, Corporate Finance, Corporate Banking, Risk Management, Equity Research and Retail Banking in Foreign and Indian Financial Institutions.

  Foreign Financial Institutions: The top recruiters among foreign banks were Nomura, Deutsche Bank, Bank of America Merrill Lynch, JPMorgan Chase, Standard Chartered, Goldman Sachs, HSBC, Citi, Arvin Meritor, Altisource and American Express. The highest compensation offered was Rs 32 lakh per annum (CTC) for a role in Mumbai by a Europe-based Investment Bank. The average salary for Foreign Financial Institutions was Rs 19.43 lakh.

As an attestation to the fact that Indian Financial Institutions are on a very high growth trajectory, ICICI Bank recruited a record 16 students from the Institute. Other prominent recruiters included Edelweiss, Axis Bank, Yes Bank, Indus Valley Partners, IDBI, Futures First, Irevna, Bajaj Allianz, SBI Capital etc. Companies like Hindustan Unilever, L&T, Airtel and Reliance Industries participated in the final placements offering roles in Corporate Finance. Rating agencies like CRISIL, ICRA and commodities derivative trading firms like NCDEX also recruited in large numbers. The average salary for Indian Financial firms was Rs 12.52 lakh.

  Consulting: Heavyweights in the sector like Mckinsey & Co, Accenture Business Consulting, Deloitte, PricewaterhouseCoopers, Cognizant Business Consulting, etc. participated in the process this year. Consulting roles were also offered by companies like Capgemini, AON Hewitt, Wipro Consulting, and MXV consulting among others. The average salary for this segment was Rs 14.42 lakh per annum. Deloitte was the largest recruiter among consulting firms this year with a total of 16 offers, while Cognizant Business Consulting was a close second with 14 offers.

  Marketing and Operations: The FMCG sector which predominantly offered roles in Sales & Marketing and Operations saw companies like HUL, P&G, ITC, Reckitt Benckiser, Marico, Hindustan Coca Cola Beverages (HCCB), Britannia, Kellogg’s and Colgate Palmolive among others, make offers to students. In the broader marketing domain, firms such as Airtel, Asian Paints, J&J Medical, 3M, Glenmark, Pfizer, Raymond, Titan, Idea, Videocon, Panasonic, Tata Motors, Tata Steel, Wipro Consumer Care, Madura F&L, HP, BILT, JDA Consulting and Zee Learn made offers to several marketing and operations enthusiasts. The highest salary in an FMCG company was Rs 22 lakh while the average compensation was slightly more than Rs 12 lakh.

  General Management: The percentage of students interested in General Management roles was found to increase significantly this year. Various companies including India’s largest conglomerates RIL and ADAG, and other companies like Mahindra & Mahindra, Cargo, Dolcera, LnT, Jindal, Olam International, Thomas Cook, Manipal Group and Triton Group offered roles in General Management. HR: Companies that participated in the placements process offering roles in the HR domain were Infosys, AON Hewitt Consulting and Apollo Hospitals. The average salary was around Rs 10.75 lakh for the HR roles offered. IT: IT companies and the Information Technology sector was back in business. The average salary in this sector was Rs 11.14 lakh per annum with prominent names from the IT domain including TCS, Wipro, IBM, Mindtree, Aricent, Capgemini, iGate, Fujitsu etc.

  Senior Roles offered: Firms such as Lenovo, Thomas Cook, EXL and Manipal Group offered senior managerial roles at the Institute. Very impressed with the quality of students, firms willingly extended Senior Managerial roles to a few candidates. A student with close to three years of work experience was offered the role of Executive Assistant to the Chairman and Managing Director by Fujitsu.

  NGOs and Entrepreneurial streak: Two students have opted for the placement holiday facility offered by the Institute in a bid to try and realise their dreams of being an entrepreneur by experimenting with starting their own business. P Satya Mani Kumar, an MBBS student has decided to join an NGO, Healing Fields Foundation that works in the area of MicroHealth Insurance. This NGO caters to the bottom of the period and targets rural areas and urban slums and as a Program Manager, he is trying to improve the general health environment in this section of society.

  For the Alma Mater: The alumni network of the Institute, which is getting increasingly stronger by the year, had a big hand to play in ensuring participation from few of the best companies in the industry in the Placement process. Alumni from a lot of companies also made it a point to travel with the recruitment team to the Institute ensuring a smooth conductance of the placements process by the company. Concluded.

Timeline: Hasan Ali case

January 2007: Income Tax department raided Hasan Ali Khan's residence in Pune, which revealed huge tax evasion and stashing black money in tax havens, including $8 bn in a bank in Zurich.  
December 2008: Income Tax department (Mumbai) issued a show cause noti 

ce to Hasan Ali regarding tax evasion and black money.

March 3, 2011: Supreme Court pulled up the government for its inaction against Hasan Ali and black money hoarders.

March 4, 2011: Enforcement Directorate issued a 'Look Out' circular in all the airports against Hasan Ali to prevent him from leaving the country.

March 7, 2011: Enforcement Directorate conducts raid in 14 locations across the country and takes Hasan Ali in its possession for interrogation.

Last date for applying to the Tata Group CA program is 14th March, 2011

Principles

The programme is modeled on the following principles

Recruit best talent from amongst the ICAI pass outs based on their academic performance, interests and capabilities Ensure accelerated long term growth through regular training & development programmes Mentoring by Senior Tata Managers

You should

Have a strong academic foundation Be flexible, resilient and adapt to the different roles and companies assigned to you Show consistently high degree of performance Align to and live the Tata Values

Requisites

Passed CA Final, PE1 and PE2 in first attempt 55% and above in all exams 27 years or less as on 1st June 2011

Annual CTC: Rs. 6,06,340

Click here to apply now

Click here to check the opportunities in various Tata Group companies and available locations

Rs 26-lakh job offer for Mumbai MBA student

Campus recruitments have hit a new high in Mumbai with a 25-year-old management student of Jamnalal Bajaj Institute of Management Studies (JBIMS) being offered an annual package of Rs 26 lakh by a leading consultancy firm, earlier this week. While at Narsee Monjee Institute of Management Studies (N

MIMS), the highest offer this year was Rs24 lakh, at SP Jain a student was offered Rs23 lakh.

These city B-schools, which are among the top in India, have students who are being offered an average salary between Rs13-Rs15.5 lakh, a 20% hike over last year. “The economy is booming and hence the salaries have risen sharply. The companies spent more time in the hiring process which is good for the participants,” said professor Abbasali Gabula, placement head, SP Jain. 

At JBIMS, 111 students have been placed in 83 companies with an average salary of Rs15.54 lakh. While ICICI Bank made 12 offers, nine job offers came from Proctor & Gamble. “Apart from the bigwig recruiters, about 17 new companies came to the campus this year,” said Debashish Sanyal, dean, NMIMS.   

Even international placements have seen diversity. “This year, we have offers from Singapore, USA and other South East Asian countries,” said Priyanka Chordia, JBIMS placement committee member.

The Institute of Company Secretaries of India welcomes sustainable growth oriented Union Budget 2011-12

“Budget reflects financial translation of the policy initiatives of the government towards inclusive growth.”

The Institute of Company Secretaries of India welcomes the Budget for the year 2011-12 placed before the Parliament by Shri Pranab Mukherjee, Hon’ble Finance Minister of India. The budget is inclusive growth oriented and broad based and focuses on priority social sector, agriculture, infrastructure, education and financial sector. Institutional initiatives to deal with corruption and black money proposed in the budget would go a long way in providing clean administration and effective governance.

The announcement by Hon’ble Finance Minister that the Companies Bill will be placed in the current session of the Parliament is a long awaited development which the professionals have been looking forward to. It will go a long way in providing new growth oriented company legislation in the country.

Providing desired impetus to the infrastructure sector by taking a number of measures towards its growth and development will help achieve the target growth rate of 9% in the next fiscal. The proposed comprehensive policy would further help in developing public private partnerships for sustainable growth of infrastructure sector.

The black money has remained a critical issue in the development agenda of the country. The institutionalization of anti black money systems by adopting five fold strategy such as joining the global crusade against black money; creating appropriate legal framework; setting up of institutions for dealing with illicit funds; developing systems for implementation by announcing comprehensive national policy in this regard and the capacity building of manpower for effective action will enable the government to bring illicit funds into the mainstream of development and constructive use.

Similarly, the setting up of Group of Ministers to deal with the ever increasing menace of corruption would lead to better administration and governance.

The budget not only spared the common man from extra tax burden but enabled individuals and senior citizen tax payers to benefit from the increased exemption limit and by lowering of age limit from 65 years to 60 years for availing of tax benefits available to senior citizens. Further, 15% tax on dividend received from foreign subsidiaries will encourage the Indian companies to repatriate dividend instead of investing it outside. However, imposition of Alternate Minimum Tax on Limited Liability Partnerships at such a nascent stage of their growth may discourage the new entrepreneurs from adopting this form of organization. Self assessment provisions in the Customs Act is a significant step towards simplification.

The measures taken to attract foreign investment by allowing mutual funds to accept subscriptions from foreign investors who meet KYC requirements for equity schemes, enhancing FII limit for investment in corporate bonds of companies in infrastructure sector and unlisted bonds with a minimum lock in period of three years would widen the class of foreign investors in Indian market. Similarly, the budgeted target of raising of Rs. 40,000 crore by way of divestment in the Central Public Sector Enterprises would bring further vibrancy in the capital market.

Initiating legislative reforms in the financial sector would help in providing adequate regulatory framework.

Government needs to reconcile ecological concerns with developmental agenda. The Group of Ministers set up to consider the environmental concerns, should also involve stakeholders either by having stakeholder representation on the group or through stakeholder engagement. Further, the budget allocation for ten year Green India Mission, launching of environmental remediation programmes etc. is a step in the right direction and it is expected that these initiatives will be encouraged further.

Pursuant to the recommendations of Second Administrative Reforms Commission, the Government has set up a Performance Monitoring and Evaluation System (PMES) to assess the effectiveness of Government departments in their mandated functions. While this is a welcome move, financial allocation for each of the objectives and its utilization at the end of the financial year also needs to be reflected in the evaluation.

Campus Placement for fresher members at NIRC – 15th March 2011

The Placement Cell of the ICSI is organizing a Campus Placement on
Tuesday, the 15th March 2011 at 10.00 A.M. at NIRC of ICSI ,4 Institutional
Area, Prasad Nagar , Delhi -110005.

Members admitted on or after 1st December 2010 and eligible participants of
150th MSOP being conducted at NIRC are eligible to participate.
Interested members may forward their CV in word format mentioning
“Campus Placement – New Delhi -2011” in the subject line of the email to
placement@icsi.edu latest by 10th March 2011.

Union Budget Highlights

• Direct taxes code will be effective from 01-04-2012
• States will be encouraged to agree on gst
• Individual tax limit raised to 1.80 lakhs
• No change in tax rates
• Mat raised to 18.5% from 18%
• Senior citizen age reduced to 60 years- exemption 2.50 laks
• New category of very senior citizen- 80 years or more- exemption rs. 5 lakhs
• Surcharge on domestic companies reduced to 5% from 7.5%
• Exemptions under 80c- additional 20000.00 in infra bond will continue for one more year.
• Central excise rate maintained at 10%
• No change in service tax rate
• Service tax law will be rationalised
• New services introduced- hotel accomodation having 1000.00 or more room per day, restauraent service liquer, life insurance companies services in investment, legal serivces in arbitration etc.
• Rs.52057 crores are allocated for education sector
• New series of coins having new re. Symbol will be released
• 500 crores will be infused in rural banking
• Service tax refund process will be simplified
• 2 more cpc in pune and manesar
• New companies bill to be introduced in the current session
• Allocation for farm development hiked to 7860 cr.
• The momentum of disinvestment will be maintained
• Interest subvention for home loan hiked to 25 lacs
• Fii investment limit in infra corp bond raised to $25 bn
• Govt. Will provide direct subsidy to people living below poverty line
• 15 more mega food parks will be setup
• Loan to minorities:- target 15% of total loan to priority sector
• Health allocation up by 20%

changes in Income Tax rates after Budget 2010-11

in the case of every individual or Hindu undivided family or every association of persons or body of individuals, whether incorporated or not, or every artificial juridical person referred to in sub-clause (vii) of clause (31) of section 2 of the Income-tax Act

Upto Rs. 1,80,000                                         Nil.

 Rs. 1,80,001 to Rs. 5,00,000                        10 per cent.

 Rs. 5,00,001 to Rs. 8,00,000                        20 per cent.

Above Rs. 8,00,000                                      30 per cent.

individual, being a woman resident in India, and below the age of sixty years

Upto Rs. 1,90,000                                         Nil.

 Rs. 1,90,001 to Rs. 5,00,000                        10 per cent.

 Rs. 5,00,001 to Rs. 8,00,000                         20 per cent.

Above Rs. 8,00,000                                      30 per cent

Senior citizen individual above 60 years of age but below than 80 years

Upto Rs. 2,50,000                                         Nil.

 Rs. 2,50,001 to Rs. 5,00,000                        10 per cent.

 Rs. 5,00,001 to Rs. 8,00,000                         20 per cent.

Above Rs. 8,00,000                                      30 per cent.

Senior citizen individual above  80 years of age

Upto Rs. 5,00,000                                         Nil.

 Rs. 50,00,001 to Rs. 8,00,000                      20 per cent.

Above Rs. 8,00,000                                      30 per cent.