A PROJECT REPORT ON DIRECT TAX

Submitted in partial fulfillment of the requirement

For
MCOM PART 2nd SEM 3rd
{2015-2016}
BY
MISS: RAJESHRI .D.GIRI
Under the guidance of MS ANURADHA KAYASTH

UNIVERSITY OF MUMBAI
SHETH T.J.EDUCATION SOCIETYS
SHETH N.K.T.T COLLEGE OF COMMERCE &
SHETH J.T.T COLLEGE OF ARTS, THANE (WEST)

SHETH T.J.EDUCATION SOCIETYS

SHETH NKKT COLLAGE OF COMMERCE &
SHETH JTT COLLEGE OF ARTS
CERTIFICATE
This is to certify that MISS: RAJESHRI DHARMENDRA GIRI
M.com Part 2nd, semester - 3rd , Roll No 46 has undertaken and

of

completed

the project report on- DIRECT TAX During the academic year 2015
2016 Under the guidance of MS ANURADHA KAYASTH
on

submitted

2015 date to this, College in fulfillment of curriculum of

M.com UNIVERSITY OF MUMBAI This is bonafide project work and

information presented is true and to the best of my knowledge and belief.

PROJECT GUIDE

EXTERNAL EXAMINE

COURSE COORDINATOR

PRINCIPAL

DECLEARATION

I RAJESHRI DHARMENDRA GIRI here by declared that project report

entitled

DIRECT

TAX

under

the

guidance

of

MS:ANURADHA KAYASTH submitted in partial Fulfillment of the

requirement for the award of degree of MASTER OF COMMERCE by
UNIVERSITY OF MUMBAI is my original work.

RAJESHRI DHARMENDRA GIRI

CLASS: MCOM PART 2nd
DIVISION: A
ROLL NO 46
PLACE: THANE

SIGNATURE:

ACKNOWLEDGMENT

I take this opportunity to express and record my thanks and gratitude to

SHETH N.K.T.T. COLLEGE THANE and entire faculty of semester 3 rd of
M.com course in the college.
Further I also acknowledgment my sincere and special thanks and
gratitude to my project guide, PROF, A. O. KHADSE Project
COORDINATTOR and PRINCIPAL DR P.M.KARKHELE without whose
continues guidance and encouragement It would not been possible for me
to complete this project work.
I express my thanks to all my colleagues, friend with whom I have had
debates and discussion on the subject which has also helped.

INCOME TAX SLAB FOR 2009

Following income tax tables indicate income tax slab for "2008-2009". The first column
indicates the income tax slab, and the second column indicates the income tax applicable on
income. Income tax indicates the percentage that needs to be paid as tax on your income.
India Income tax slabs 2008-2009 for Men
Income tax slab (in Rs.)
Tax
0 to 1,50,000

No tax

1,50,000 to 3,00,000

10%

3,00,000 to 5,00,000

20%

Above 5,00,000

30%

India Income tax slabs 2008-2009 for women

Income tax slab(in Rs.)
Tax
0 to 1,80,000

No tax

1,80,000 to 3,00,000

10%

3,00,000 to 5,00,000

20%

Above 5,00,000

30%

India Income tax slabs 2008-2009 for Senior citizen

Income tax slab(in Rs.)
Tax
0 to 2,25,000

No tax

2,25,000 to 3,00,000

10%

3,00,000 to 5,00,000

20%

Above 5,00,000

30%

Main attraction - Income tax exemption limit increased. Income tax exemption limit for
senior citizens is now 2.4 lakh, for women it is 1.90 lakh and for all others the income tax
exemption limit will be 1.60 lakh.

Income tax slab base for 2009-2010 raised to 1.60 lakh for individual tax payer.
This in an increase of slab base from the earlier Rs 1.50 lakh.

For women the exemption limit according to latest tax slab will be Rs 1.90 lakh,
which is an increase of Rs 10,000 from the earlier rate of Rs 1.80 lakh.

Senior citizens will enjoy an extra Rs 15000 as the exemption limit is increased to
Rs 2.40 lakhs from an earlier 2.25 lakhs.

INCOME TAX SLAB FOR 2011

Following income tax tables indicate income tax slab for "2010-2011". The first column
indicates the income tax slab, and the second column indicates the income tax applicable on
income. Income tax indicates the percentage that needs to be paid as tax on your income.

India Income tax slabs 2010-2011 for Men

Income tax slab (in Rs.)
Tax
0 to 1,60,000

No tax

1,60,001 to 5,00,000

10%

5,00,001 to 8,00,000

20%

Above 8,00,000

30%

India Income tax slabs 2010-2011 for Women

Income tax slab (in Rs.)
Tax
0 to 1,90,000

No tax

1,90,001 to 5,00,000

10%

5,00,001 to 8,00,000

20%

Above 8,00,000

30%

India Income tax slabs 2010-2011 for Senior citizen

Income tax slab (in Rs.)
Tax
0 to 2,40,000

No tax

2,40,001 to 5,00,000

10%

5,00,001 to 8,00,000

20%

Above 8,00,000

30%

General basic exemption limit to be increased from 1,60,000 to 1,80,000. The

exemption limit for women assesses to be retained at 1,9 0,000.
Basic exemption limit for senior citizens to be increased from 2,40,000 to 2,50,000
Relaxation for Senior Citizens
Age criterion for senior citizens to be relaxed from 65 years to 60 years.
New category of very senior citizens of 80 years and above to be eligible
for higher basic exemption limit of 5,00,000.